SYSCO (SYY) Reaches New 12-Month High and Low Following Dividend Announcement

SYSCO Co. (NYSE:SYY) reached a new 52-week high and low during mid-day trading on Friday after the company announced a dividend. The stock traded as low as $65.40 and last traded at $65.03, with a volume of 48413 shares traded. The stock had previously closed at $64.64.

The newly announced dividend which will be paid on Friday, July 27th. Investors of record on Friday, July 6th will be given a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 2.21%. SYSCO’s dividend payout ratio (DPR) is presently 58.06%.

Several brokerages recently issued reports on SYY. Pivotal Research set a $58.00 price target on SYSCO and gave the company a “hold” rating in a research report on Tuesday, May 8th. Zacks Investment Research cut SYSCO from a “hold” rating to a “sell” rating in a research report on Tuesday, May 1st. Morgan Stanley restated a “hold” rating and issued a $61.00 price target (down previously from $64.00) on shares of SYSCO in a research report on Tuesday, May 8th. Credit Suisse Group set a $68.00 price target on SYSCO and gave the company a “hold” rating in a research report on Saturday, May 5th. Finally, Royal Bank of Canada restated a “sector perform” rating and issued a $61.00 price target on shares of SYSCO in a research report on Tuesday, February 6th. Seven research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. SYSCO presently has a consensus rating of “Hold” and a consensus target price of $65.64.

The firm has a market cap of $33.65 billion, a price-to-earnings ratio of 26.22, a P/E/G ratio of 2.06 and a beta of 0.55. The company has a quick ratio of 0.90, a current ratio of 1.44 and a debt-to-equity ratio of 3.76.

SYSCO (NYSE:SYY) last announced its quarterly earnings data on Monday, May 7th. The company reported $0.67 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.63 by $0.04. SYSCO had a return on equity of 64.33% and a net margin of 2.23%. The company had revenue of $14.35 billion for the quarter, compared to analyst estimates of $14.32 billion. During the same quarter in the previous year, the company earned $0.51 EPS. The firm’s revenue for the quarter was up 6.1% compared to the same quarter last year. analysts predict that SYSCO Co. will post 2.98 earnings per share for the current year.

In other SYSCO news, Director Richard G. Tilghman sold 5,000 shares of SYSCO stock in a transaction that occurred on Thursday, March 15th. The stock was sold at an average price of $59.80, for a total value of $299,000.00. Following the sale, the director now owns 90,552 shares of the company’s stock, valued at approximately $5,415,009.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Wayne Shurts sold 15,275 shares of SYSCO stock in a transaction that occurred on Tuesday, March 13th. The shares were sold at an average price of $60.85, for a total value of $929,483.75. Following the completion of the sale, the insider now directly owns 39,635 shares in the company, valued at approximately $2,411,789.75. The disclosure for this sale can be found here. Insiders sold a total of 91,609 shares of company stock worth $5,673,454 in the last ninety days. 9.60% of the stock is owned by corporate insiders.

Large investors have recently made changes to their positions in the company. Cambridge Investment Research Advisors Inc. boosted its stake in shares of SYSCO by 6.8% during the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 65,788 shares of the company’s stock worth $3,995,000 after acquiring an additional 4,167 shares in the last quarter. Deutsche Bank AG boosted its stake in shares of SYSCO by 1.7% during the 4th quarter. Deutsche Bank AG now owns 2,691,367 shares of the company’s stock worth $163,438,000 after acquiring an additional 45,042 shares in the last quarter. AXA boosted its stake in shares of SYSCO by 2.2% during the 4th quarter. AXA now owns 445,779 shares of the company’s stock worth $27,073,000 after acquiring an additional 9,700 shares in the last quarter. MetLife Investment Advisors LLC purchased a new stake in shares of SYSCO during the 4th quarter worth approximately $9,008,000. Finally, Garde Capital Inc. boosted its stake in shares of SYSCO by 6.8% during the 4th quarter. Garde Capital Inc. now owns 15,373 shares of the company’s stock worth $934,000 after acquiring an additional 973 shares in the last quarter. 80.06% of the stock is currently owned by institutional investors and hedge funds.

About SYSCO

Sysco Corporation, through its subsidiaries, markets and distributes a range of food and related products primarily to the foodservice or food-away-from-home industry in the United States, Canada, Bahamas, Mexico, Costa Rica, Panama, the United Kingdom, France, Sweden, Ireland, Belgium, Spain, and Luxembourg.

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