Traders Sell Shares of SYSCO Co. (SYY) on Strength Following Insider Selling

Investors sold shares of SYSCO Co. (NYSE:SYY) on strength during trading hours on Friday following insider selling activity. $20.63 million flowed into the stock on the tick-up and $129.42 million flowed out of the stock on the tick-down, for a money net flow of $108.79 million out of the stock. Of all stocks tracked, SYSCO had the 0th highest net out-flow for the day. SYSCO traded up $0.15 for the day and closed at $54.58Specifically, Director Daniel J. Brutto bought 2,500 shares of SYSCO stock in a transaction dated Friday, March 31st. The stock was acquired at an average cost of $51.94 per share, with a total value of $129,850.00. Following the completion of the acquisition, the director now directly owns 3,968 shares in the company, valued at approximately $206,097.92. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Wayne Shurts sold 15,600 shares of the company’s stock in a transaction on Wednesday, April 5th. The shares were sold at an average price of $51.66, for a total value of $805,896.00. Following the sale, the insider now directly owns 43,176 shares of the company’s stock, valued at $2,230,472.16. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 75,600 shares of company stock valued at $3,991,296. 8.81% of the stock is currently owned by company insiders.

SYY has been the subject of several analyst reports. Deutsche Bank AG reaffirmed a “hold” rating and set a $55.00 target price (up from $54.00) on shares of SYSCO in a report on Wednesday, February 8th. Credit Suisse Group AG raised SYSCO from a “neutral” rating to an “outperform” rating and set a $59.00 target price for the company in a report on Monday, February 6th. BMO Capital Markets set a $56.00 target price on SYSCO and gave the company a “hold” rating in a report on Tuesday, February 7th. Royal Bank of Canada initiated coverage on SYSCO in a report on Wednesday, January 25th. They set a “sector perform” rating and a $47.00 target price for the company. Finally, JPMorgan Chase & Co. raised SYSCO from a “neutral” rating to an “overweight” rating and set a $57.00 target price for the company in a report on Tuesday, February 7th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and seven have given a buy rating to the company’s stock. SYSCO presently has a consensus rating of “Hold” and an average price target of $56.30.

The firm’s 50-day moving average is $53.11 and its 200-day moving average is $53.30. The firm has a market cap of $29.21 billion, a PE ratio of 28.77 and a beta of 0.52.

SYSCO (NYSE:SYY) last posted its earnings results on Monday, May 8th. The company reported $0.51 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.51. The firm had revenue of $13.52 billion for the quarter, compared to analyst estimates of $13.14 billion. SYSCO had a return on equity of 40.85% and a net margin of 1.94%. The company’s revenue for the quarter was up 12.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.46 earnings per share. On average, equities research analysts predict that SYSCO Co. will post $2.47 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, April 28th. Shareholders of record on Friday, April 7th were issued a dividend of $0.33 per share. The ex-dividend date of this dividend was Wednesday, April 5th. This represents a $1.32 annualized dividend and a yield of 2.43%. SYSCO’s dividend payout ratio is presently 71.74%.

Hedge funds and other institutional investors have recently bought and sold shares of the company. North Star Investment Management Corp. raised its position in SYSCO by 81.2% in the first quarter. North Star Investment Management Corp. now owns 1,944 shares of the company’s stock valued at $101,000 after buying an additional 871 shares in the last quarter. Johnson Financial Group Inc. raised its position in SYSCO by 49.5% in the fourth quarter. Johnson Financial Group Inc. now owns 2,100 shares of the company’s stock valued at $116,000 after buying an additional 695 shares in the last quarter. TrimTabs Asset Management LLC raised its position in SYSCO by 88.7% in the first quarter. TrimTabs Asset Management LLC now owns 2,162 shares of the company’s stock valued at $112,000 after buying an additional 1,016 shares in the last quarter. Howe & Rusling Inc. raised its position in SYSCO by 81.1% in the first quarter. Howe & Rusling Inc. now owns 2,595 shares of the company’s stock valued at $135,000 after buying an additional 1,162 shares in the last quarter. Finally, Crow Point Partners LLC acquired a new position in SYSCO during the third quarter valued at $137,000. Hedge funds and other institutional investors own 77.50% of the company’s stock.

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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.

12 Month Chart for NYSE:SYY

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