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.
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