SYSCO Co. (SYY) Insider Wayne Shurts Sells 15,600 Shares
SYSCO Co. (NYSE:SYY) insider Wayne Shurts sold 15,600 shares of SYSCO stock in a transaction dated Wednesday, January 10th. The stock was sold at an average price of $61.44, for a total value of $958,464.00. Following the sale, the insider now owns 55,235 shares in the company, valued at approximately $3,393,638.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.
Wayne Shurts also recently made the following trade(s):
- On Wednesday, December 13th, Wayne Shurts sold 7,800 shares of SYSCO stock. The stock was sold at an average price of $61.76, for a total value of $481,728.00.
- On Wednesday, November 29th, Wayne Shurts sold 15,600 shares of SYSCO stock. The stock was sold at an average price of $56.66, for a total value of $883,896.00.
- On Tuesday, October 24th, Wayne Shurts sold 7,800 shares of SYSCO stock. The stock was sold at an average price of $54.86, for a total value of $427,908.00.
SYSCO Co. (NYSE:SYY) traded down $0.13 during midday trading on Thursday, hitting $61.22. The company had a trading volume of 1,682,106 shares, compared to its average volume of 2,700,000. 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 Co. has a 52-week low of $48.85 and a 52-week high of $62.79. The stock has a market capitalization of $31,900.00, a price-to-earnings ratio of 27.95, a P/E/G ratio of 2.64 and a beta of 0.53.
SYSCO (NYSE:SYY) last released its quarterly earnings results on Monday, November 6th. The company reported $0.74 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.72 by $0.02. SYSCO had a return on equity of 58.47% and a net margin of 2.12%. The firm had revenue of $14.65 billion for the quarter, compared to analyst estimates of $14.43 billion. During the same quarter last year, the company posted $0.67 earnings per share. The business’s revenue was up 4.9% on a year-over-year basis. equities analysts forecast that SYSCO Co. will post 2.78 EPS for the current year.
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 represents a $1.44 dividend on an annualized basis and a yield of 2.35%. The ex-dividend date of this dividend is Thursday, January 4th. This is a positive change from SYSCO’s previous quarterly dividend of $0.33. SYSCO’s payout ratio is currently 65.75%.
A number of institutional investors and hedge funds have recently made changes to their positions in SYY. Janus Henderson Group PLC boosted its holdings in SYSCO by 9,055.0% in the 2nd quarter. Janus Henderson Group PLC now owns 5,707,603 shares of the company’s stock valued at $287,264,000 after purchasing an additional 5,645,259 shares in the last quarter. American Century Companies Inc. boosted its holdings in SYSCO by 47.6% in the 2nd quarter. American Century Companies Inc. now owns 5,054,930 shares of the company’s stock valued at $254,415,000 after purchasing an additional 1,629,990 shares in the last quarter. Capital World Investors boosted its holdings in 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 purchasing an additional 1,445,000 shares in the last quarter. Nordea Investment Management AB boosted its holdings in SYSCO by 252.7% in the 2nd quarter. Nordea Investment Management AB now owns 1,928,089 shares of the company’s stock valued at $97,041,000 after purchasing an additional 1,381,441 shares in the last quarter. Finally, Parnassus Investments CA boosted its holdings in SYSCO by 20.3% in the 3rd quarter. Parnassus Investments CA now owns 7,410,401 shares of the company’s stock valued at $399,791,000 after purchasing an additional 1,250,005 shares in the last quarter. 80.07% of the stock is currently owned by institutional investors.
A number of analysts have recently commented on the company. Loop Capital lifted their target price on SYSCO to $68.00 and gave the stock a “buy” rating in a research report on Monday, December 11th. Pivotal Research raised their price target on SYSCO from $53.00 to $60.00 and gave the stock a “buy” rating in a report on Tuesday, December 12th. Zacks Investment Research raised SYSCO from a “hold” rating to a “strong-buy” rating and set a $71.00 price target on the stock in a report on Wednesday. Finally, BMO Capital Markets set a $66.00 price target on SYSCO and gave the stock a “buy” rating in a report on Friday, December 8th. Six investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $59.55.
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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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