Stock Traders Buy Large Volume of Sysco Corp. Put Options (SYY)
Shares of Sysco Corp. (NYSE:SYY) were the target of some unusual options trading on Friday. Investors bought 3,536 put options on the stock, Analyst Ratings Net reports. This represents an increase of 147% compared to the average volume of 1,434 put options.
Several analysts have recently commented on the stock. Analysts at Citigroup Inc. reiterated a “neutral” rating on shares of Sysco Corp. in a research note on Monday, August 18th. They now have a $39.00 price target on the stock, down previously from $40.00. Separately, analysts at Zacks reiterated a “neutral” rating on shares of Sysco Corp. in a research note on Thursday, August 14th. They now have a $40.00 price target on the stock. Finally, analysts at Jefferies Group reiterated a “hold” rating on shares of Sysco Corp. in a research note on Thursday, July 24th. They now have a $35.00 price target on the stock, down previously from $40.00. Six investment analysts have rated the stock with a hold rating, The stock has a consensus rating of “Hold” and an average target price of $36.75.
Sysco Corp. (NYSE:SYY) traded up 0.11% during mid-day trading on Friday, hitting $37.83. The stock had a trading volume of 2,831,767 shares. Sysco Corp. has a one year low of $31.13 and a one year high of $43.40. The stock’s 50-day moving average is $36.94 and its 200-day moving average is $36.60. The company has a market cap of $22.197 billion and a price-to-earnings ratio of 23.92.
Sysco Corp. (NYSE:SYY) last issued its quarterly earnings data on Monday, August 11th. The company reported $0.50 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.50. The company had revenue of $12.29 billion for the quarter, compared to the consensus estimate of $12.14 billion. During the same quarter in the previous year, the company posted $0.50 earnings per share. The company’s quarterly revenue was up 5.9% on a year-over-year basis. On average, analysts predict that Sysco Corp. will post $1.88 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Friday, October 24th. Shareholders of record on Friday, October 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 3.07%. The ex-dividend date of this dividend is Wednesday, October 1st.
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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