Sysco Corp. (SYY) CEO William J. Delaney III Sells 20,114 Shares
Sysco Corp. (NYSE:SYY) CEO William J. Delaney III sold 20,114 shares of the firm’s stock in a transaction that occurred on Friday, October 14th. The stock was sold at an average price of $49.02, for a total transaction of $985,988.28. Following the transaction, the chief executive officer now directly owns 422,507 shares of the company’s stock, valued at $20,711,293.14. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.
Sysco Corp. (NYSE:SYY) traded up 0.02% on Tuesday, reaching $48.27. The company had a trading volume of 2,058,844 shares. The stock’s 50-day moving average price is $49.82 and its 200-day moving average price is $49.74. Sysco Corp. has a 12-month low of $38.84 and a 12-month high of $53.97. The stock has a market capitalization of $26.80 billion, a P/E ratio of 29.43 and a beta of 0.52.
Sysco Corp. (NYSE:SYY) last announced its quarterly earnings data on Monday, August 15th. The company reported $0.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.61 by $0.03. The firm earned $13.65 billion during the quarter, compared to the consensus estimate of $13.68 billion. Sysco Corp. had a return on equity of 28.67% and a net margin of 1.89%. The business’s revenue for the quarter was up 10.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.52 EPS. On average, equities research analysts anticipate that Sysco Corp. will post $2.31 EPS for the current fiscal year.
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The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 28th. Shareholders of record on Friday, October 7th will be paid a $0.31 dividend. The ex-dividend date is Wednesday, October 5th. This represents a $1.24 dividend on an annualized basis and a yield of 2.57%. Sysco Corp.’s dividend payout ratio (DPR) is presently 75.15%.
Several equities analysts recently weighed in on SYY shares. Morgan Stanley reissued a “sell” rating on shares of Sysco Corp. in a research note on Monday, June 20th. Vetr cut shares of Sysco Corp. from a “hold” rating to a “sell” rating and set a $50.83 price objective for the company. in a research report on Thursday, August 18th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $57.00 price objective (up from $55.00) on shares of Sysco Corp. in a research report on Tuesday, August 16th. Deutsche Bank AG initiated coverage on shares of Sysco Corp. in a research report on Monday, July 18th. They set a “hold” rating and a $52.00 price objective for the company. Finally, Jefferies Group reaffirmed a “hold” rating and set a $50.00 price objective on shares of Sysco Corp. in a research report on Friday, September 30th. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and four have issued a buy rating to the stock. Sysco Corp. currently has a consensus rating of “Hold” and an average price target of $50.45.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Eagle Asset Management Inc. increased its position in Sysco Corp. by 5.7% in the second quarter. Eagle Asset Management Inc. now owns 1,767,902 shares of the company’s stock valued at $89,703,000 after buying an additional 95,309 shares during the last quarter. Nuveen Asset Management LLC increased its position in Sysco Corp. by 1,825.0% in the first quarter. Nuveen Asset Management LLC now owns 688,095 shares of the company’s stock valued at $32,155,000 after buying an additional 652,350 shares during the last quarter. Sabal Trust CO increased its position in Sysco Corp. by 2.0% in the second quarter. Sabal Trust CO now owns 465,104 shares of the company’s stock valued at $23,600,000 after buying an additional 9,269 shares during the last quarter. Parsec Financial Management Inc. increased its position in Sysco Corp. by 1.2% in the second quarter. Parsec Financial Management Inc. now owns 333,992 shares of the company’s stock valued at $16,947,000 after buying an additional 3,912 shares during the last quarter. Finally, Panagora Asset Management Inc. increased its position in Sysco Corp. by 1,297.1% in the first quarter. Panagora Asset Management Inc. now owns 821,152 shares of the company’s stock valued at $38,372,000 after buying an additional 762,376 shares during the last quarter. Hedge funds and other institutional investors own 77.24% of the company’s stock.
Sysco Corp. Company Profile
Sysco Corporation (Sysco) 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. The Company provides products and related services to approximately 425,000 customers, including restaurants, healthcare and educational facilities, lodging establishments and other foodservice customers.
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