Investors Buy High Volume of Call Options on SYSCO (SYY)
SYSCO Co. (NYSE:SYY) was the target of unusually large options trading activity on Wednesday. Stock investors acquired 30,704 call options on the company. This represents an increase of approximately 2,527% compared to the typical volume of 1,169 call options.
Several research firms recently weighed in on SYY. Zacks Investment Research upgraded shares of SYSCO from a “hold” rating to a “buy” rating and set a $60.00 price target for the company in a research report on Tuesday, October 10th. BMO Capital Markets set a $66.00 price target on shares of SYSCO and gave the stock a “buy” rating in a research report on Friday, December 8th. Pivotal Research upped their price target on shares of SYSCO from $53.00 to $60.00 and gave the stock a “buy” rating in a research report on Tuesday, December 12th. Finally, Loop Capital upped their price target on shares of SYSCO to $68.00 and gave the stock a “buy” rating in a research report on Monday, December 11th. Seven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. SYSCO presently has an average rating of “Buy” and a consensus price target of $58.55.
SYSCO (NYSE:SYY) opened at $61.45 on Friday. The firm has a market cap of $32,020.00, a PE ratio of 28.06, a P/E/G ratio of 2.60 and a beta of 0.53. The company has a debt-to-equity ratio of 3.77, a quick ratio of 0.88 and a current ratio of 1.40. SYSCO has a 1 year low of $48.85 and a 1 year high of $62.79.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 26th. Shareholders of record on Friday, January 5th will be issued a $0.36 dividend. This is an increase from SYSCO’s previous quarterly dividend of $0.33. The ex-dividend date of this dividend is Thursday, January 4th. This represents a $1.44 dividend on an annualized basis and a yield of 2.34%. SYSCO’s dividend payout ratio is presently 60.27%.
In other SYSCO news, CEO William J. Delaney III sold 150,000 shares of the company’s stock in a transaction dated Monday, November 13th. The shares were sold at an average price of $54.05, for a total value of $8,107,500.00. Following the completion of the transaction, the chief executive officer now owns 526,725 shares in the company, valued at $28,469,486.25. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO William J. Delaney III sold 30,000 shares of the company’s stock in a transaction dated Wednesday, October 18th. The stock was sold at an average price of $54.71, for a total transaction of $1,641,300.00. Following the transaction, the chief executive officer now owns 406,725 shares of the company’s stock, valued at approximately $22,251,924.75. The disclosure for this sale can be found here. In the last quarter, insiders sold 224,534 shares of company stock valued at $12,351,572. Insiders own 9.60% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its holdings in SYSCO by 1.6% in the 2nd quarter. Vanguard Group Inc. now owns 38,501,911 shares of the company’s stock valued at $1,937,801,000 after acquiring an additional 590,968 shares during the last quarter. BlackRock Inc. grew its stake in shares of SYSCO by 0.3% in the 2nd quarter. BlackRock Inc. now owns 32,291,082 shares of the company’s stock valued at $1,625,211,000 after buying an additional 83,464 shares during the period. State Street Corp grew its stake in shares of SYSCO by 1.0% in the 2nd quarter. State Street Corp now owns 26,707,981 shares of the company’s stock valued at $1,344,209,000 after buying an additional 272,303 shares during the period. Capital World Investors grew its stake in shares of SYSCO by 11.7% in the 2nd quarter. Capital World Investors now owns 13,767,000 shares of the company’s stock valued at $692,893,000 after buying an additional 1,445,000 shares during the period. Finally, Ameriprise Financial Inc. grew its stake in shares of SYSCO by 2.0% in the 3rd quarter. Ameriprise Financial Inc. now owns 10,451,813 shares of the company’s stock valued at $563,890,000 after buying an additional 208,815 shares during the period. Institutional investors own 80.07% of the company’s stock.
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SYSCO 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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