William J. Delaney III Sells 30,000 Shares of Sysco Corporation (SYY) Stock
Sysco Corporation (NYSE:SYY) CEO William J. Delaney III sold 30,000 shares of the stock in a transaction that occurred on Wednesday, September 13th. The shares were sold at an average price of $53.16, for a total transaction of $1,594,800.00. Following the completion of the transaction, the chief executive officer now directly owns 406,725 shares of the company’s stock, valued at $21,621,501. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.
Sysco Corporation (SYY) traded up 1.86% during trading on Friday, reaching $53.66. 5,033,958 shares of the company’s stock were exchanged. The stock has a market capitalization of $28.33 billion, a PE ratio of 25.80 and a beta of 0.52. Sysco Corporation has a 52 week low of $47.15 and a 52 week high of $57.07. The stock has a 50-day moving average of $52.19 and a 200-day moving average of $52.55.
Sysco Corporation (NYSE:SYY) last released its quarterly earnings results on Monday, August 14th. The company reported $0.72 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.71 by $0.01. Sysco Corporation had a return on equity of 53.25% and a net margin of 2.06%. The business had revenue of $14.40 billion during the quarter, compared to analysts’ expectations of $14.35 billion. During the same quarter in the prior year, the business earned $0.64 earnings per share. The company’s quarterly revenue was up 5.5% compared to the same quarter last year. On average, equities research analysts anticipate that Sysco Corporation will post $2.76 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, October 27th. Stockholders of record on Friday, October 6th will be paid a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 2.46%. The ex-dividend date of this dividend is Thursday, October 5th. Sysco Corporation’s dividend payout ratio (DPR) is presently 63.16%.
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Several institutional investors have recently added to or reduced their stakes in SYY. BlackRock Inc. raised its stake in shares of Sysco Corporation by 2,088.2% during the first quarter. BlackRock Inc. now owns 32,207,618 shares of the company’s stock worth $1,672,219,000 after purchasing an additional 30,735,711 shares during the last quarter. Janus Henderson Group PLC raised its stake in shares of Sysco Corporation by 9,055.0% during the second quarter. Janus Henderson Group PLC now owns 5,707,603 shares of the company’s stock worth $287,264,000 after purchasing an additional 5,645,259 shares during the last quarter. American Century Companies Inc. raised its stake in shares of Sysco Corporation by 47.6% during the second quarter. American Century Companies Inc. now owns 5,054,930 shares of the company’s stock worth $254,415,000 after purchasing an additional 1,629,990 shares during the last quarter. Capital World Investors raised its stake in shares of Sysco Corporation by 11.7% during the second quarter. Capital World Investors now owns 13,767,000 shares of the company’s stock worth $692,893,000 after purchasing an additional 1,445,000 shares during the last quarter. Finally, Nordea Investment Management AB raised its stake in shares of Sysco Corporation by 252.7% during the second quarter. Nordea Investment Management AB now owns 1,928,089 shares of the company’s stock worth $97,041,000 after purchasing an additional 1,381,441 shares during the last quarter. Institutional investors and hedge funds own 79.97% of the company’s stock.
SYY has been the subject of several research analyst reports. Zacks Investment Research lowered shares of Sysco Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday, July 11th. 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 report on Friday, August 11th. Bank of America Corporation reaffirmed a “buy” rating and issued a $61.00 price objective on shares of Sysco Corporation in a research report on Monday, June 26th. Wells Fargo & Company reaffirmed a “buy” rating on shares of Sysco Corporation in a research report on Monday, August 14th. Finally, J P Morgan Chase & Co reissued an “overweight” rating and set a $57.00 price target on shares of Sysco Corporation in a research report on Friday, June 23rd. Nine research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $56.17.
Sysco Corporation Company Profile
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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