Sysco Corporation (SYY) CEO William J. Delaney III Sells 400,000 Shares of Stock

Sysco Corporation (NYSE:SYY) CEO William J. Delaney III sold 400,000 shares of Sysco Corporation stock in a transaction dated Thursday, September 21st. The stock was sold at an average price of $54.16, for a total value of $21,664,000.00. Following the completion of the transaction, the chief executive officer now owns 576,725 shares of the company’s stock, valued at approximately $31,235,426. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Sysco Corporation (NYSE SYY) traded down 0.93% during mid-day trading on Friday, hitting $53.37. 2,382,026 shares of the stock traded hands. The stock has a market cap of $28.17 billion, a P/E ratio of 25.66 and a beta of 0.52. The stock has a 50-day moving average price of $52.31 and a 200-day moving average price of $52.57. Sysco Corporation has a 12 month low of $47.15 and a 12 month high of $57.07.

Sysco Corporation (NYSE:SYY) last posted its quarterly earnings results on Monday, August 14th. The company reported $0.72 earnings per share for the quarter, beating the consensus estimate of $0.71 by $0.01. Sysco Corporation had a net margin of 2.06% and a return on equity of 53.25%. The business had revenue of $14.40 billion during the quarter, compared to analysts’ expectations of $14.35 billion. During the same quarter in the prior year, the company posted $0.64 EPS. The business’s revenue for the quarter was up 5.5% on a year-over-year basis. On average, equities analysts forecast that Sysco Corporation will post $2.76 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, October 27th. Stockholders of record on Friday, October 6th will be paid a $0.33 dividend. The ex-dividend date of this dividend is Thursday, October 5th. This represents a $1.32 annualized dividend and a dividend yield of 2.47%. Sysco Corporation’s dividend payout ratio (DPR) is 63.16%.

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Several research analysts have issued reports on the company. BidaskClub lowered Sysco Corporation from a “buy” rating to a “hold” rating in a research report on Friday, June 9th. J P Morgan Chase & Co restated an “overweight” rating and set a $57.00 target price on shares of Sysco Corporation in a research report on Friday, June 23rd. Wells Fargo & Company restated a “buy” rating on shares of Sysco Corporation in a research report on Friday, June 23rd. Bank of America Corporation restated a “buy” rating and set a $61.00 target price on shares of Sysco Corporation in a research report on Monday, June 26th. Finally, BMO Capital Markets restated a “buy” rating and set a $60.00 target price on shares of Sysco Corporation in a research report on Tuesday, June 27th. Nine analysts have rated the stock with a hold rating and six have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $56.17.

Several institutional investors have recently bought and sold shares of the company. Griffin Asset Management Inc. purchased a new stake in shares of Sysco Corporation in the 2nd quarter valued at approximately $2,912,000. Toronto Dominion Bank boosted its position in shares of Sysco Corporation by 24.2% during the 2nd quarter. Toronto Dominion Bank now owns 167,531 shares of the company’s stock worth $8,430,000 after purchasing an additional 32,697 shares during the period. Archford Capital Strategies LLC boosted its position in shares of Sysco Corporation by 13,033.9% during the 2nd quarter. Archford Capital Strategies LLC now owns 7,749 shares of the company’s stock worth $947,000 after purchasing an additional 7,690 shares during the period. Cetera Investment Advisers boosted its position in shares of Sysco Corporation by 285.5% during the 2nd quarter. Cetera Investment Advisers now owns 16,644 shares of the company’s stock worth $844,000 after purchasing an additional 12,326 shares during the period. Finally, Beaton Management Co. Inc. purchased a new position in shares of Sysco Corporation during the 2nd quarter worth approximately $503,000. 79.91% of the stock is owned by institutional investors and hedge funds.

About Sysco Corporation

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.

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

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