Insider Selling: SYSCO Co. (SYY) Insider Sells 15,600 Shares of Stock
SYSCO Co. (NYSE:SYY) insider Wayne Shurts sold 15,600 shares of the firm’s stock in a transaction dated Thursday, May 25th. The stock was sold at an average price of $54.25, for a total transaction of $846,300.00. Following the completion of the transaction, the insider now directly owns 58,776 shares in the company, valued at $3,188,598. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Wayne Shurts also recently made the following trade(s):
- On Wednesday, April 5th, Wayne Shurts sold 15,600 shares of SYSCO stock. The stock was sold at an average price of $51.66, for a total transaction of $805,896.00.
Shares of SYSCO Co. (NYSE:SYY) traded up 0.28% during trading on Friday, reaching $54.43. 1,707,704 shares of the company’s stock were exchanged. The stock has a market capitalization of $29.13 billion, a price-to-earnings ratio of 28.69 and a beta of 0.52. The stock has a 50 day moving average price of $53.42 and a 200-day moving average price of $53.49. SYSCO Co. has a 52 week low of $47.15 and a 52 week high of $57.07.
SYSCO (NYSE:SYY) last released its earnings results on Monday, May 8th. The company reported $0.51 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.51. The company had revenue of $13.52 billion for the quarter, compared to analyst estimates of $13.14 billion. SYSCO had a net margin of 1.94% and a return on equity of 40.85%. The firm’s quarterly revenue was up 12.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.46 EPS. Analysts predict that SYSCO Co. will post $2.47 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, July 28th. Shareholders of record on Friday, July 7th will be issued a $0.33 dividend. The ex-dividend date of this dividend is Wednesday, July 5th. This represents a $1.32 dividend on an annualized basis and a yield of 2.43%. SYSCO’s dividend payout ratio (DPR) is 71.74%.
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Several research firms have recently weighed in on SYY. Royal Bank of Canada reissued a “sector perform” rating and issued a $47.00 price target on shares of SYSCO in a research note on Thursday, February 2nd. Credit Suisse Group AG raised shares of SYSCO from a “neutral” rating to an “outperform” rating and set a $59.00 price target on the stock in a research note on Monday, February 6th. BMO Capital Markets raised shares of SYSCO from a “market perform” rating to an “outperform” rating and raised their price target for the stock from $56.00 to $60.00 in a research note on Thursday, May 4th. Wells Fargo & Co reissued a “buy” rating on shares of SYSCO in a research note on Monday, February 6th. Finally, Jefferies Group LLC reissued a “hold” rating and issued a $51.00 price target (up from $50.00) on shares of SYSCO in a research note on Monday, May 8th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and seven have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $56.30.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. North Star Investment Management Corp. raised its position in SYSCO by 81.2% in the first quarter. North Star Investment Management Corp. now owns 1,944 shares of the company’s stock worth $101,000 after buying an additional 871 shares during the period. TrimTabs Asset Management LLC raised its position in shares of SYSCO by 88.7% in the first quarter. TrimTabs Asset Management LLC now owns 2,162 shares of the company’s stock valued at $112,000 after buying an additional 1,016 shares during the last quarter. Johnson Financial Group Inc. raised its position in shares of SYSCO by 49.5% in the fourth quarter. Johnson Financial Group Inc. now owns 2,100 shares of the company’s stock valued at $116,000 after buying an additional 695 shares during the last quarter. Howe & Rusling Inc. raised its position in shares of SYSCO by 81.1% in the first quarter. Howe & Rusling Inc. now owns 2,595 shares of the company’s stock valued at $135,000 after buying an additional 1,162 shares during the last quarter. Finally, Crow Point Partners LLC bought a new position in shares of SYSCO during the third quarter valued at $137,000. Institutional investors own 77.50% of the company’s stock.
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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