William J. Delaney III Sells 150,000 Shares of Sysco Corporation (SYY) Stock
Sysco Corporation (NYSE:SYY) CEO William J. Delaney III sold 150,000 shares of the business’s stock in a transaction on Monday, November 13th. The stock was sold at an average price of $54.05, for a total transaction of $8,107,500.00. Following the completion of the sale, the chief executive officer now owns 526,725 shares of the company’s stock, valued at $28,469,486.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.
Sysco Corporation (NYSE SYY) traded up $0.38 on Friday, hitting $54.48. 2,003,300 shares of the stock traded hands, compared to its average volume of 2,918,071. The company has a current ratio of 1.40, a quick ratio of 0.88 and a debt-to-equity ratio of 3.77. Sysco Corporation has a fifty-two week low of $48.85 and a fifty-two week high of $57.23. The company has a market cap of $28,590.00, a price-to-earnings ratio of 21.22, a price-to-earnings-growth ratio of 2.43 and a beta of 0.53.
Sysco Corporation (NYSE:SYY) last issued its quarterly earnings results on Monday, November 6th. The company reported $0.74 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.72 by $0.02. The business had revenue of $14.65 billion for the quarter, compared to the consensus estimate of $14.43 billion. Sysco Corporation had a net margin of 2.12% and a return on equity of 58.47%. The firm’s quarterly revenue was up 4.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.67 EPS. sell-side analysts predict that Sysco Corporation will post 2.77 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, January 26th. Investors of record on Friday, January 5th will be given a dividend of $0.36 per share. This is an increase from Sysco Corporation’s previous quarterly dividend of $0.33. This represents a $1.44 annualized dividend and a yield of 2.64%. Sysco Corporation’s dividend payout ratio is 60.27%.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Kistler Tiffany Companies LLC lifted its position in Sysco Corporation by 0.4% during the 2nd quarter. Kistler Tiffany Companies LLC now owns 2,915 shares of the company’s stock worth $147,000 after buying an additional 12 shares in the last quarter. Schnieders Capital Management LLC lifted its position in Sysco Corporation by 0.4% during the 2nd quarter. Schnieders Capital Management LLC now owns 4,070 shares of the company’s stock valued at $205,000 after purchasing an additional 18 shares during the period. Blue Chip Partners Inc. lifted its position in Sysco Corporation by 0.6% during the 2nd quarter. Blue Chip Partners Inc. now owns 2,967 shares of the company’s stock valued at $149,000 after purchasing an additional 18 shares during the period. Northwest Quadrant Wealth Management LLC lifted its position in Sysco Corporation by 0.6% during the 2nd quarter. Northwest Quadrant Wealth Management LLC now owns 5,169 shares of the company’s stock valued at $269,000 after purchasing an additional 29 shares during the period. Finally, Keel Point LLC lifted its position in Sysco Corporation by 0.8% during the 2nd quarter. Keel Point LLC now owns 5,782 shares of the company’s stock valued at $291,000 after purchasing an additional 47 shares during the period. Institutional investors and hedge funds own 80.30% of the company’s stock.
SYY has been the topic of a number of research reports. Jefferies Group LLC reaffirmed a “hold” rating and set a $51.00 target price on shares of Sysco Corporation in a research report on Friday, August 4th. Pivotal Research reaffirmed a “hold” rating and set a $53.00 target price on shares of Sysco Corporation in a research report on Sunday, November 5th. Royal Bank Of Canada set a $50.00 target price on shares of Sysco Corporation and gave the stock a “hold” rating in a research report on Friday, August 11th. Zacks Investment Research lowered shares of Sysco Corporation from a “buy” rating to a “hold” rating in a research report on Wednesday, August 16th. Finally, BMO Capital Markets reaffirmed an “outperform” rating on shares of Sysco Corporation in a research report on Tuesday, September 12th. Nine analysts have rated the stock with a hold rating and six have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $56.42.
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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