Sysco Corporation (SYY) Director Sells $19,766,150.26 in Stock
Sysco Corporation (NYSE:SYY) Director Trian Fund Management, L.P. sold 372,314 shares of the stock in a transaction dated Wednesday, September 13th. The shares were sold at an average price of $53.09, for a total transaction of $19,766,150.26. Following the completion of the sale, the director now owns 5,529 shares of the company’s stock, valued at approximately $293,534.61. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.
Sysco Corporation (NYSE:SYY) traded down 1.53% on Thursday, hitting $52.67. 3,462,786 shares of the stock were exchanged. The company has a 50-day moving average of $52.19 and a 200-day moving average of $52.55. Sysco Corporation has a 12 month low of $47.15 and a 12 month high of $57.07. The stock has a market cap of $27.80 billion, a price-to-earnings ratio of 25.32 and a beta of 0.52.
Sysco Corporation (NYSE:SYY) last released its quarterly earnings data on Monday, August 14th. The company reported $0.72 earnings per share for the quarter, beating the consensus estimate of $0.71 by $0.01. Sysco Corporation had a net margin of 2.06% and a return on equity of 53.25%. The firm had revenue of $14.40 billion during the quarter, compared to analysts’ expectations of $14.35 billion. During the same period in the previous year, the company earned $0.64 earnings per share. The firm’s quarterly revenue was up 5.5% on a year-over-year basis. On average, equities analysts predict that Sysco Corporation will post $2.76 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 27th. Stockholders of record on Friday, October 6th will be issued a dividend of $0.33 per share. The ex-dividend date is Thursday, October 5th. This represents a $1.32 annualized dividend and a dividend yield of 2.51%. Sysco Corporation’s payout ratio is 63.16%.
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Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Griffin Asset Management Inc. purchased a new position in shares of Sysco Corporation during the second quarter valued at approximately $2,912,000. Toronto Dominion Bank raised its holdings in shares of Sysco Corporation by 24.2% during the second quarter. Toronto Dominion Bank now owns 167,531 shares of the company’s stock valued at $8,430,000 after purchasing an additional 32,697 shares during the last quarter. Archford Capital Strategies LLC raised its holdings in shares of Sysco Corporation by 13,033.9% during the second quarter. Archford Capital Strategies LLC now owns 7,749 shares of the company’s stock valued at $947,000 after purchasing an additional 7,690 shares during the last quarter. Cetera Investment Advisers raised its holdings in shares of Sysco Corporation by 285.5% during the second quarter. Cetera Investment Advisers now owns 16,644 shares of the company’s stock valued at $844,000 after purchasing an additional 12,326 shares during the last quarter. Finally, Beaton Management Co. Inc. purchased a new position in shares of Sysco Corporation during the second quarter valued at approximately $503,000. 79.97% of the stock is owned by hedge funds and other institutional investors.
Several research firms have commented on SYY. BMO Capital Markets reiterated an “outperform” rating on shares of Sysco Corporation in a research note on Tuesday. Zacks Investment Research lowered shares of Sysco Corporation from a “buy” rating to a “hold” rating in a research note on Wednesday, August 16th. Wells Fargo & Company reiterated a “buy” rating on shares of Sysco Corporation in a research note on Monday, August 14th. Pivotal Research set a $53.00 price objective on shares of Sysco Corporation and gave the company a “hold” rating in a research note on Sunday, August 13th. Finally, Royal Bank Of Canada set a $50.00 price objective on shares of Sysco Corporation and gave the company a “hold” rating in a research note on Friday, August 11th. Nine equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Sysco Corporation currently has a consensus rating of “Hold” and an average target price of $56.17.
About Sysco Corporation
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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