Sysco Corporation (SYY) EVP Wayne Shurts Sells 7,800 Shares
Sysco Corporation (NYSE:SYY) EVP Wayne Shurts sold 7,800 shares of the stock in a transaction on Wednesday, December 13th. The stock was sold at an average price of $61.76, for a total value of $481,728.00. Following the completion of the sale, the executive vice president now directly owns 55,235 shares in the company, valued at $3,411,313.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.
Wayne Shurts also recently made the following trade(s):
- On Wednesday, November 29th, Wayne Shurts sold 15,600 shares of Sysco stock. The stock was sold at an average price of $56.66, for a total value of $883,896.00.
- On Tuesday, October 24th, Wayne Shurts sold 7,800 shares of Sysco stock. The stock was sold at an average price of $54.86, for a total value of $427,908.00.
Shares of Sysco Corporation (NYSE:SYY) traded down $0.72 on Friday, hitting $60.90. The stock had a trading volume of 3,086,500 shares, compared to its average volume of 2,901,728. The firm has a market capitalization of $32,107.49, a price-to-earnings ratio of 24.17, a price-to-earnings-growth ratio of 2.64 and a beta of 0.54. The company has a debt-to-equity ratio of 3.77, a current ratio of 1.40 and a quick ratio of 0.88. Sysco Corporation has a 52 week low of $48.85 and a 52 week high of $62.79.
Sysco (NYSE:SYY) last issued its quarterly earnings results on Monday, November 6th. The company reported $0.74 EPS for the quarter, beating analysts’ consensus estimates of $0.72 by $0.02. The company had revenue of $14.65 billion for the quarter, compared to analyst estimates of $14.43 billion. Sysco had a return on equity of 58.47% and a net margin of 2.12%. The company’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same period last year, the company earned $0.67 earnings per share. research analysts expect that Sysco Corporation will post 2.78 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, January 26th. Stockholders of record on Friday, January 5th will be issued a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 2.36%. This is a positive change from Sysco’s previous quarterly dividend of $0.33. The ex-dividend date is Thursday, January 4th. Sysco’s dividend payout ratio (DPR) is 60.00%.
Several institutional investors and hedge funds have recently modified their holdings of the company. City Holding Co. boosted its stake in Sysco by 5.2% during the second quarter. City Holding Co. now owns 35,812 shares of the company’s stock valued at $1,802,000 after buying an additional 1,780 shares in the last quarter. Iberiabank Corp boosted its stake in Sysco by 1.9% during the second quarter. Iberiabank Corp now owns 62,914 shares of the company’s stock valued at $3,166,000 after buying an additional 1,143 shares in the last quarter. Waverton Investment Management Ltd boosted its stake in Sysco by 3.4% during the second quarter. Waverton Investment Management Ltd now owns 12,842 shares of the company’s stock valued at $646,000 after buying an additional 428 shares in the last quarter. Capital Investment Advisors LLC boosted its stake in Sysco by 7.8% during the second quarter. Capital Investment Advisors LLC now owns 74,931 shares of the company’s stock valued at $3,771,000 after buying an additional 5,395 shares in the last quarter. Finally, New England Research & Management Inc. boosted its stake in Sysco by 66.0% during the second quarter. New England Research & Management Inc. now owns 15,390 shares of the company’s stock valued at $775,000 after buying an additional 6,120 shares in the last quarter. 80.22% of the stock is currently owned by institutional investors.
Several equities research analysts have weighed in on the company. BMO Capital Markets reaffirmed an “outperform” rating on shares of Sysco in a research report on Tuesday, September 12th. Pivotal Research increased their target price on Sysco from $53.00 to $60.00 and gave the stock a “buy” rating in a research report on Tuesday. Zacks Investment Research raised Sysco from a “hold” rating to a “buy” rating and set a $60.00 price target on the stock in a report on Tuesday, October 10th. Finally, Loop Capital raised their price target on Sysco to $68.00 and gave the company a “buy” rating in a report on Monday. Seven investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $58.55.
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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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