Sysco Corp. EVP Unloads $6,953,829 in Stock (SYY)
Sysco Corp. (NYSE:SYY) EVP Michael W. Green sold 185,386 shares of the stock on the open market in a transaction that occurred on Monday, June 23rd. The stock was sold at an average price of $37.51, for a total value of $6,953,828.86. Following the completion of the sale, the executive vice president now directly owns 71,465 shares of the company’s stock, valued at approximately $2,680,652. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.
Shares of Sysco Corp. (NYSE:SYY) traded down 0.90% during mid-day trading on Wednesday, hitting $37.45. 2,894,589 shares of the company’s stock traded hands. Sysco Corp. has a 52 week low of $31.13 and a 52 week high of $43.40. The stock has a 50-day moving average of $37.07 and a 200-day moving average of $36.31. The company has a market cap of $21.892 billion and a price-to-earnings ratio of 23.33.
Sysco Corp. (NYSE:SYY) last released its earnings data on Monday, May 5th. The company reported $0.38 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.39 by $0.01. The company had revenue of $11.30 billion for the quarter, compared to the consensus estimate of $11.40 billion. During the same quarter in the prior year, the company posted $0.49 earnings per share. The company’s quarterly revenue was up 3.2% on a year-over-year basis. Analysts expect that Sysco Corp. will post $1.76 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Friday, July 25th. Investors of record on Thursday, July 3rd will be given a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 3.10%. The ex-dividend date of this dividend is Tuesday, July 1st.
A number of research firms have recently commented on SYY. Analysts at Morgan Stanley initiated coverage on shares of Sysco Corp. in a research note on Wednesday. They set an “equal weight” rating on the stock. Separately, analysts at Citigroup Inc. reiterated a “neutral” rating on shares of Sysco Corp. in a research note on Monday, June 16th. They now have a $40.00 price target on the stock, up previously from $36.00. Finally, analysts at Zacks reiterated a “neutral” rating on shares of Sysco Corp. in a research note on Friday, June 6th. They now have a $39.00 price target on the stock. Seven investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $35.40.
Sysco Corporation (NYSE:SYY), along with its subsidiaries and divisions, is a North American distributor of food and related products primarily to the foodservice or food-away-from-home industry.
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