Insider Selling: SYSCO Co. (SYY) Director Sells $369,100.00 in Stock
SYSCO Co. (NYSE:SYY) Director Richard G. Tilghman sold 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 15th. The shares were sold at an average price of $73.82, for a total transaction of $369,100.00. Following the completion of the sale, the director now owns 66,137 shares in the company, valued at approximately $4,882,233.34. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.
Shares of NYSE:SYY opened at $74.83 on Monday. The firm has a market cap of $35.68 billion, a PE ratio of 30.17, a price-to-earnings-growth ratio of 1.89 and a beta of 0.56. The company has a current ratio of 1.44, a quick ratio of 0.90 and a debt-to-equity ratio of 3.76. SYSCO Co. has a 52 week low of $50.83 and a 52 week high of $75.33.
SYSCO (NYSE:SYY) last issued its quarterly earnings results on Monday, August 13th. The company reported $0.94 EPS for the quarter, topping analysts’ consensus estimates of $0.93 by $0.01. The company had revenue of $15.32 billion for the quarter, compared to analyst estimates of $15.30 billion. SYSCO had a net margin of 2.23% and a return on equity of 64.33%. SYSCO’s revenue was up 6.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.72 earnings per share. equities analysts anticipate that SYSCO Co. will post 3.01 earnings per share for the current year.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Blue Chip Partners Inc. bought a new position in SYSCO during the second quarter worth $104,000. Quad Cities Investment Group LLC bought a new position in SYSCO during the second quarter worth $111,000. Flagship Harbor Advisors LLC bought a new position in SYSCO during the second quarter worth $121,000. Fort L.P. bought a new position in SYSCO during the second quarter worth $123,000. Finally, Private Capital Group LLC raised its stake in SYSCO by 970.2% during the first quarter. Private Capital Group LLC now owns 2,044 shares of the company’s stock worth $123,000 after buying an additional 1,853 shares during the last quarter. 79.15% of the stock is owned by institutional investors and hedge funds.
A number of brokerages have weighed in on SYY. Pivotal Research raised their target price on shares of SYSCO from $58.00 to $62.00 and gave the company a “sell” rating in a research report on Saturday. Argus raised their target price on shares of SYSCO from $67.00 to $86.00 and gave the company a “buy” rating in a research report on Thursday. Loop Capital lifted their price target on shares of SYSCO to $80.00 and gave the stock a “buy” rating in a report on Tuesday, August 14th. BMO Capital Markets lifted their price target on shares of SYSCO from $74.00 to $81.00 and gave the stock an “outperform” rating in a report on Tuesday, August 14th. Finally, Morgan Stanley lifted their price target on shares of SYSCO from $67.00 to $71.00 and gave the stock an “equal weight” rating in a report on Tuesday, August 14th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the company’s stock. SYSCO has a consensus rating of “Hold” and a consensus target price of $72.42.
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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