Sysco Corporation (NYSE:SYY) CEO William J. Delaney III sold 400,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 21st. The stock was sold at an average price of $54.16, for a total transaction of $21,664,000.00. Following the sale, the chief executive officer now owns 576,725 shares in the company, valued at approximately $31,235,426. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

Shares of Sysco Corporation (SYY) traded down 0.93% during midday trading on Friday, reaching $53.37. 2,382,026 shares of the company traded hands. Sysco Corporation has a 1-year low of $47.15 and a 1-year high of $57.07. The stock has a 50 day moving average price of $52.31 and a 200 day moving average price of $52.57. The firm has a market capitalization of $28.17 billion, a PE ratio of 25.66 and a beta of 0.52.

Sysco Corporation (NYSE:SYY) last posted its quarterly earnings data on Monday, August 14th. The company reported $0.72 EPS for the quarter, beating 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 firm had revenue of $14.40 billion during the quarter, compared to the consensus estimate of $14.35 billion. During the same period in the prior year, the company earned $0.64 EPS. The firm’s revenue was up 5.5% compared to the same quarter last year. Analysts expect that Sysco Corporation will post $2.76 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 27th. Investors of record on Friday, October 6th will be paid a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 2.47%. The ex-dividend date of this dividend is Thursday, October 5th. Sysco Corporation’s dividend payout ratio is currently 63.16%.

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Several institutional investors and hedge funds have recently modified their holdings of SYY. BlackRock Inc. increased its stake in shares of Sysco Corporation by 2,088.2% in the 1st quarter. BlackRock Inc. now owns 32,207,618 shares of the company’s stock worth $1,672,219,000 after acquiring an additional 30,735,711 shares during the last quarter. Janus Henderson Group PLC increased its stake in shares of Sysco Corporation by 9,055.0% in the 2nd quarter. Janus Henderson Group PLC now owns 5,707,603 shares of the company’s stock worth $287,264,000 after acquiring an additional 5,645,259 shares during the last quarter. American Century Companies Inc. increased its stake in shares of Sysco Corporation by 47.6% in the 2nd quarter. American Century Companies Inc. now owns 5,054,930 shares of the company’s stock worth $254,415,000 after acquiring an additional 1,629,990 shares during the last quarter. Capital World Investors increased its stake in shares of Sysco Corporation by 11.7% in the 2nd quarter. Capital World Investors now owns 13,767,000 shares of the company’s stock worth $692,893,000 after acquiring an additional 1,445,000 shares during the last quarter. Finally, Nordea Investment Management AB increased its stake in shares of Sysco Corporation by 252.7% in the 2nd quarter. Nordea Investment Management AB now owns 1,928,089 shares of the company’s stock worth $97,041,000 after acquiring an additional 1,381,441 shares during the last quarter. 79.91% of the stock is owned by institutional investors and hedge funds.

Several equities research analysts have recently issued reports on SYY shares. Zacks Investment Research upgraded shares of Sysco Corporation from a “hold” rating to a “buy” rating and set a $56.00 price objective on the stock in a research report on Tuesday, July 4th. BMO Capital Markets reiterated a “buy” rating and set a $60.00 price objective on shares of Sysco Corporation in a research report on Tuesday, June 27th. Bank of America Corporation reiterated a “buy” rating and set a $61.00 price objective on shares of Sysco Corporation in a research report on Monday, June 26th. Wells Fargo & Company reiterated a “buy” rating on shares of Sysco Corporation in a research report on Friday, June 23rd. Finally, 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. Nine analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price 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.

Insider Buying and Selling by Quarter for Sysco Corporation (NYSE:SYY)

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