Insider Selling: Sysco Corporation (SYY) CEO Sells $8,107,500.00 in Stock
Sysco Corporation (NYSE:SYY) CEO William J. Delaney III sold 150,000 shares of the firm’s stock in a transaction on Monday, November 13th. The stock was sold at an average price of $54.05, for a total transaction of $8,107,500.00. Following the completion of the sale, the chief executive officer now owns 526,725 shares in the company, valued at approximately $28,469,486.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.
Shares of Sysco Corporation (NYSE:SYY) opened at $54.89 on Friday. The company has a quick ratio of 0.88, a current ratio of 1.40 and a debt-to-equity ratio of 3.77. The company has a market capitalization of $28,530.00, a PE ratio of 21.54, a P/E/G ratio of 2.46 and a beta of 0.53. Sysco Corporation has a 12-month low of $48.85 and a 12-month high of $57.23.
Sysco Corporation (NYSE:SYY) last posted its earnings results on Monday, November 6th. The company reported $0.74 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.72 by $0.02. The company had revenue of $14.65 billion during the quarter, compared to analyst estimates of $14.43 billion. Sysco Corporation had a return on equity of 58.47% and a net margin of 2.12%. The company’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same period in the previous year, the company earned $0.67 EPS. analysts anticipate that Sysco Corporation will post 2.77 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 26th. Investors of record on Friday, January 5th will be given a $0.36 dividend. This is a positive change from Sysco Corporation’s previous quarterly dividend of $0.33. This represents a $1.44 annualized dividend and a dividend yield of 2.62%. Sysco Corporation’s payout ratio is currently 60.27%.
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Several institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. lifted its stake in Sysco Corporation by 1.6% in the 2nd quarter. Vanguard Group Inc. now owns 38,501,911 shares of the company’s stock valued at $1,937,801,000 after acquiring an additional 590,968 shares in the last quarter. BlackRock Inc. lifted its stake in Sysco Corporation by 0.3% in the 2nd quarter. BlackRock Inc. now owns 32,291,082 shares of the company’s stock valued at $1,625,211,000 after acquiring an additional 83,464 shares in the last quarter. State Street Corp lifted its stake in Sysco Corporation by 1.0% in the 2nd quarter. State Street Corp now owns 26,707,981 shares of the company’s stock valued at $1,344,209,000 after acquiring an additional 272,303 shares in the last quarter. Capital World Investors lifted its stake in Sysco Corporation by 11.7% in the 2nd quarter. Capital World Investors now owns 13,767,000 shares of the company’s stock valued at $692,893,000 after acquiring an additional 1,445,000 shares in the last quarter. Finally, Ameriprise Financial Inc. raised its stake in shares of Sysco Corporation by 2.0% during the 3rd quarter. Ameriprise Financial Inc. now owns 10,451,813 shares of the company’s stock worth $563,890,000 after purchasing an additional 208,815 shares in the last quarter. Institutional investors and hedge funds own 80.30% of the company’s stock.
Several research analysts recently commented on SYY shares. Jefferies Group LLC reaffirmed a “hold” rating and issued a $51.00 target price on shares of Sysco Corporation in a research report on Friday, August 4th. Pivotal Research reaffirmed a “hold” rating and issued a $53.00 target price on shares of Sysco Corporation in a research report on Sunday, November 5th. Royal Bank Of Canada set a $50.00 price objective on Sysco Corporation and gave the company a “hold” rating in a report on Friday, August 11th. Zacks Investment Research cut Sysco Corporation from a “buy” rating to a “hold” rating in a report on Wednesday, August 16th. Finally, BMO Capital Markets reissued an “outperform” rating on shares of Sysco Corporation in a report on Tuesday, September 12th. Nine investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Sysco Corporation has an average rating of “Hold” and an average target price of $56.42.
About Sysco Corporation
Sysco Corporation (Sysco) is a distributor of food and related products primarily to the foodservice or food-away-from-home industry. The Company’s segments include Broadline, SYGMA and Other. The Broadline segment includes its Broadline operations located in the Bahamas, Canada, Costa Rica, Ireland, Mexico and the United States.
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