Sysco Corporation (SYY) CEO Sells $21,664,000.00 in Stock
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.
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