Sysco Corp. (NYSE:SYY) insider William B. Day sold 26,507 shares of the business’s stock in a transaction dated Monday, October 3rd. The shares were sold at an average price of $49.00, for a total value of $1,298,843.00. Following the completion of the transaction, the insider now owns 132,790 shares in the company, valued at approximately $6,506,710. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.
Sysco Corp. (NYSE:SYY) opened at 48.28 on Friday. The firm has a market cap of $26.80 billion, a PE ratio of 29.44 and a beta of 0.51. Sysco Corp. has a 12-month low of $38.84 and a 12-month high of $53.97. The firm has a 50-day moving average price of $50.65 and a 200 day moving average price of $49.63.
Sysco Corp. (NYSE:SYY) last released its quarterly earnings results on Monday, August 15th. The company reported $0.64 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.61 by $0.03. Sysco Corp. had a return on equity of 28.67% and a net margin of 1.89%. The firm had revenue of $13.65 billion for the quarter, compared to the consensus estimate of $13.68 billion. During the same quarter last year, the business posted $0.52 EPS. The company’s revenue for the quarter was up 10.0% on a year-over-year basis. Equities research analysts forecast that Sysco Corp. will post $2.31 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, October 28th. Shareholders of record on Friday, October 7th will be paid a $0.31 dividend. This represents a $1.24 annualized dividend and a dividend yield of 2.57%. The ex-dividend date is Wednesday, October 5th. Sysco Corp.’s dividend payout ratio is 75.15%.
A number of research analysts have commented on SYY shares. Barclays PLC started coverage on Sysco Corp. in a research note on Friday, September 23rd. They issued an “underweight” rating and a $48.00 target price on the stock. Jefferies Group reiterated a “hold” rating and set a $50.00 price target on shares of Sysco Corp. in a research note on Friday, September 30th. Argus upped their price target on Sysco Corp. from $56.00 to $60.00 and gave the stock a “buy” rating in a research note on Friday, August 19th. Bank of America Corp. set a $54.00 price target on Sysco Corp. and gave the stock a “hold” rating in a research note on Saturday, September 17th. Finally, Deutsche Bank AG started coverage on Sysco Corp. in a research note on Monday, July 18th. They set a “hold” rating and a $52.00 price target for the company. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and four have issued a buy rating to the stock. Sysco Corp. currently has an average rating of “Hold” and an average target price of $50.45.
Several hedge funds have recently added to or reduced their stakes in SYY. Los Angeles Capital Management & Equity Research Inc. increased its stake in Sysco Corp. by 24.4% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 202,633 shares of the company’s stock valued at $9,469,000 after buying an additional 39,705 shares in the last quarter. Teachers Advisors Inc. increased its stake in Sysco Corp. by 7.3% in the first quarter. Teachers Advisors Inc. now owns 955,398 shares of the company’s stock valued at $44,646,000 after buying an additional 65,051 shares in the last quarter. Tobam purchased a new stake in Sysco Corp. during the first quarter valued at about $13,209,000. Columbia Partners L L C Investment Management boosted its position in shares of Sysco Corp. by 6.5% in the first quarter. Columbia Partners L L C Investment Management now owns 10,550 shares of the company’s stock valued at $493,000 after buying an additional 640 shares during the last quarter. Finally, NN Investment Partners Holdings N.V. bought a new position in shares of Sysco Corp. during the first quarter valued at $47,883,000. 76.65% of the stock is currently owned by hedge funds and other institutional investors.
Sysco Corp. Company Profile
Sysco Corporation (Sysco) along with its subsidiaries and divisions, is a North American distributor of food and related products primarily to the foodservice or food-away-from-home industry. The Company provides products and related services to approximately 425,000 customers, including restaurants, healthcare and educational facilities, lodging establishments and other foodservice customers.
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