SYSCO Co. (SYY) Director Sells $158,249,931.98 in Stock

SYSCO Co. (NYSE:SYY) Director Trian Fund Management, L.P. sold 2,115,358 shares of the company’s stock in a transaction on Wednesday, September 12th. The shares were sold at an average price of $74.81, for a total transaction of $158,249,931.98. Following the transaction, the director now owns 4,005 shares of the company’s stock, valued at $299,614.05. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

Trian Fund Management, L.P. also recently made the following trade(s):

  • On Friday, September 7th, Trian Fund Management, L.P. sold 2,790,710 shares of SYSCO stock. The shares were sold at an average price of $75.03, for a total transaction of $209,386,971.30.
  • On Thursday, June 14th, Trian Fund Management, L.P. sold 2,278,939 shares of SYSCO stock. The shares were sold at an average price of $66.14, for a total transaction of $150,729,025.46.

Shares of SYY stock traded down $0.46 during mid-day trading on Wednesday, reaching $74.49. The company’s stock had a trading volume of 5,496,700 shares, compared to its average volume of 2,732,184. SYSCO Co. has a 1-year low of $52.18 and a 1-year high of $75.98. The stock has a market cap of $38.83 billion, a price-to-earnings ratio of 23.72, a P/E/G ratio of 2.02 and a beta of 0.54. The company has a debt-to-equity ratio of 3.01, a quick ratio of 0.74 and a current ratio of 1.21.

SYSCO (NYSE:SYY) last announced its quarterly earnings data on Monday, August 13th. The company reported $0.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.93 by $0.01. SYSCO had a net margin of 2.44% and a return on equity of 68.15%. The company had revenue of $15.32 billion during the quarter, compared to analysts’ expectations of $15.30 billion. During the same quarter in the prior year, the company posted $0.72 EPS. The business’s revenue was up 6.2% on a year-over-year basis. sell-side analysts predict that SYSCO Co. will post 3.49 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 26th. Stockholders of record on Friday, October 5th will be paid a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.93%. The ex-dividend date is Thursday, October 4th. SYSCO’s dividend payout ratio is 45.86%.

Hedge funds have recently made changes to their positions in the company. Sumitomo Life Insurance Co. grew its holdings in shares of SYSCO by 4.1% in the 2nd quarter. Sumitomo Life Insurance Co. now owns 19,123 shares of the company’s stock worth $1,306,000 after purchasing an additional 758 shares during the last quarter. Eastern Bank grew its holdings in shares of SYSCO by 0.4% in the 2nd quarter. Eastern Bank now owns 212,281 shares of the company’s stock worth $14,497,000 after purchasing an additional 773 shares during the last quarter. World Asset Management Inc grew its holdings in shares of SYSCO by 2.1% in the 2nd quarter. World Asset Management Inc now owns 38,744 shares of the company’s stock worth $2,646,000 after purchasing an additional 800 shares during the last quarter. CIBC World Markets Inc. grew its holdings in shares of SYSCO by 19.7% in the 2nd quarter. CIBC World Markets Inc. now owns 4,876 shares of the company’s stock worth $333,000 after purchasing an additional 803 shares during the last quarter. Finally, Advisor Partners LLC grew its holdings in shares of SYSCO by 7.5% in the 2nd quarter. Advisor Partners LLC now owns 11,819 shares of the company’s stock worth $807,000 after purchasing an additional 827 shares during the last quarter. Institutional investors own 80.19% of the company’s stock.

Several equities analysts recently commented on SYY shares. Argus upped their target price on shares of SYSCO from $67.00 to $86.00 and gave the company a “buy” rating in a research note on Thursday, August 16th. Jefferies Financial Group set a $68.00 target price on shares of SYSCO and gave the company a “hold” rating in a research note on Monday, August 13th. ValuEngine cut shares of SYSCO from a “buy” rating to a “hold” rating in a research note on Thursday, August 2nd. Zacks Investment Research cut shares of SYSCO from a “hold” rating to a “sell” rating in a research note on Monday, July 23rd. Finally, Wells Fargo & Co upped their target price on shares of SYSCO from $71.00 to $80.00 and gave the company a “$70.32” rating in a research note on Wednesday, July 18th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $72.42.

About SYSCO

Sysco Corporation, through its subsidiaries, markets and distributes a range of food and related products primarily to the foodservice or food-away-from-home industry in the United States, Canada, Bahamas, Mexico, Costa Rica, Panama, the United Kingdom, France, Sweden, Ireland, Belgium, Spain, and Luxembourg.

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