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%.
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.
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