SYSCO Co. (SYY) Insider Sells $958,464.00 in Stock
SYSCO Co. (NYSE:SYY) insider Wayne Shurts sold 15,600 shares of the stock in a transaction that occurred on Wednesday, January 10th. The shares were sold at an average price of $61.44, for a total transaction of $958,464.00. Following the completion of the transaction, the insider now owns 55,235 shares in the company, valued at $3,393,638.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.
Wayne Shurts also recently made the following trade(s):
- On Wednesday, December 13th, Wayne Shurts sold 7,800 shares of SYSCO stock. The shares were sold at an average price of $61.76, for a total transaction of $481,728.00.
- On Wednesday, November 29th, Wayne Shurts sold 15,600 shares of SYSCO stock. The shares were sold at an average price of $56.66, for a total transaction of $883,896.00.
- On Tuesday, October 24th, Wayne Shurts sold 7,800 shares of SYSCO stock. The shares were sold at an average price of $54.86, for a total transaction of $427,908.00.
Shares of SYSCO Co. (NYSE:SYY) opened at $61.38 on Friday. The company has a current ratio of 1.40, a quick ratio of 0.88 and a debt-to-equity ratio of 3.77. SYSCO Co. has a 12-month low of $48.85 and a 12-month high of $62.79. The stock has a market cap of $31,980.00, a price-to-earnings ratio of 28.03, a PEG ratio of 2.64 and a beta of 0.53.
SYSCO (NYSE:SYY) last issued its quarterly earnings data 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. SYSCO had a net margin of 2.12% and a return on equity of 58.47%. The company had revenue of $14.65 billion during the quarter, compared to the consensus estimate of $14.43 billion. During the same quarter in the prior year, the firm earned $0.67 earnings per share. The firm’s revenue was up 4.9% compared to the same quarter last year. research analysts expect that SYSCO Co. will post 2.78 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 26th. Stockholders of record on Friday, January 5th will be given a dividend of $0.36 per share. This is an increase from SYSCO’s previous quarterly dividend of $0.33. The ex-dividend date is Thursday, January 4th. This represents a $1.44 annualized dividend and a dividend yield of 2.35%. SYSCO’s dividend payout ratio is currently 65.75%.
Several brokerages have commented on SYY. Loop Capital upped their target price on shares of SYSCO to $68.00 and gave the company a “buy” rating in a research note on Monday, December 11th. Pivotal Research upped their target price on shares of SYSCO from $53.00 to $60.00 and gave the company a “buy” rating in a research note on Tuesday, December 12th. Zacks Investment Research raised shares of SYSCO from a “hold” rating to a “strong-buy” rating and set a $71.00 target price for the company in a research note on Wednesday. Finally, BMO Capital Markets set a $66.00 target price on shares of SYSCO and gave the company a “buy” rating in a research note on Friday, December 8th. Six investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $59.55.
Several hedge funds have recently modified their holdings of SYY. Beach Investment Management LLC. bought a new position in SYSCO in the second quarter valued at $2,198,000. Marshall Wace North America L.P. grew its position in SYSCO by 14.4% in the second quarter. Marshall Wace North America L.P. now owns 109,121 shares of the company’s stock valued at $5,457,000 after purchasing an additional 13,703 shares in the last quarter. Marshall Wace LLP bought a new position in SYSCO in the second quarter valued at $265,000. Progressive Investment Management Corp grew its position in SYSCO by 1.2% in the second quarter. Progressive Investment Management Corp now owns 8,431 shares of the company’s stock valued at $424,000 after purchasing an additional 102 shares in the last quarter. Finally, Boston Private Wealth LLC grew its position in SYSCO by 2.5% in the second quarter. Boston Private Wealth LLC now owns 12,529 shares of the company’s stock valued at $631,000 after purchasing an additional 300 shares in the last quarter. 80.07% of the stock is owned by institutional investors.
SYSCO Company Profile
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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