Joshua D. Frank Sells 650,000 Shares of Sysco Co. (NYSE:SYY) Stock

Sysco Co. (NYSE:SYY) Director Joshua D. Frank sold 650,000 shares of the stock in a transaction on Monday, June 7th. The shares were sold at an average price of $79.56, for a total value of $51,714,000.00. Following the sale, the director now owns 4,840 shares in the company, valued at approximately $385,070.40. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Shares of Sysco stock opened at $78.93 on Friday. The company has a current ratio of 1.65, a quick ratio of 1.19 and a debt-to-equity ratio of 8.41. The stock has a market cap of $40.38 billion, a price-to-earnings ratio of -157.86, a PEG ratio of 5.59 and a beta of 1.44. The business’s fifty day simple moving average is $81.71. Sysco Co. has a fifty-two week low of $50.03 and a fifty-two week high of $86.73.

Sysco (NYSE:SYY) last issued its earnings results on Tuesday, May 4th. The company reported $0.22 earnings per share for the quarter, topping the consensus estimate of $0.20 by $0.02. The business had revenue of $11.82 billion for the quarter, compared to analyst estimates of $12.02 billion. Sysco had a positive return on equity of 17.14% and a negative net margin of 0.56%. The business’s quarterly revenue was down 13.7% on a year-over-year basis. During the same period last year, the company posted $0.45 EPS. On average, analysts forecast that Sysco Co. will post 1.31 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, July 23rd. Investors of record on Friday, July 2nd will be given a $0.47 dividend. This is a positive change from Sysco’s previous quarterly dividend of $0.45. This represents a $1.88 annualized dividend and a dividend yield of 2.38%. The ex-dividend date is Thursday, July 1st. Sysco’s dividend payout ratio (DPR) is 89.55%.

Several institutional investors and hedge funds have recently modified their holdings of SYY. Norges Bank purchased a new position in shares of Sysco in the 4th quarter worth $351,055,000. Lazard Asset Management LLC increased its holdings in Sysco by 41,835.4% in the 4th quarter. Lazard Asset Management LLC now owns 3,984,284 shares of the company’s stock valued at $295,872,000 after purchasing an additional 3,974,783 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in Sysco by 31.3% in the 4th quarter. JPMorgan Chase & Co. now owns 13,829,373 shares of the company’s stock valued at $1,026,969,000 after purchasing an additional 3,299,518 shares in the last quarter. Swedbank acquired a new stake in Sysco in the 4th quarter valued at $118,840,000. Finally, Primecap Management Co. CA acquired a new stake in Sysco in the 1st quarter valued at $94,779,000. 79.37% of the stock is currently owned by institutional investors and hedge funds.

SYY has been the topic of a number of analyst reports. Barclays increased their target price on Sysco from $80.00 to $83.00 and gave the company an “equal weight” rating in a report on Friday, May 21st. JPMorgan Chase & Co. increased their target price on Sysco from $80.00 to $85.00 and gave the company a “neutral” rating in a report on Monday, April 12th. They noted that the move was a valuation call. Wells Fargo & Company increased their target price on Sysco from $89.00 to $95.00 and gave the company an “overweight” rating in a report on Tuesday, April 27th. Piper Sandler increased their target price on Sysco from $82.00 to $86.00 and gave the company an “overweight” rating in a report on Thursday, March 18th. Finally, Morgan Stanley increased their price target on Sysco from $88.00 to $89.00 and gave the stock an “equal weight” rating in a research note on Monday, May 24th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $85.38.

Sysco Company Profile

Sysco Corporation, through its subsidiaries, markets and distributes a range of food and related products primarily to the foodservice or food-away-from-home industry in the United States, Canada, the United Kingdom, France, and internationally. It operates through three segments: U.S. Foodservice Operations, International Foodservice Operations, SYGMA, and Other.

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Insider Buying and Selling by Quarter for Sysco (NYSE:SYY)

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