SYSCO Co. (NYSE:SYY) Director Trian Fund Management, L.P. sold 2,278,939 shares of the business’s stock in a transaction dated Thursday, June 14th. The shares were sold at an average price of $66.14, for a total value of $150,729,025.46. Following the transaction, the director now owns 4,657 shares in the company, valued at $308,013.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
SYSCO traded up $0.59, reaching $66.48, during trading on Thursday, according to Marketbeat Ratings. 2,510,200 shares of the company traded hands, compared to its average volume of 2,768,588. The company has a current ratio of 1.44, a quick ratio of 0.90 and a debt-to-equity ratio of 3.76. The company has a market capitalization of $34.60 billion, a price-to-earnings ratio of 26.81, a PEG ratio of 2.13 and a beta of 0.57. SYSCO Co. has a 1-year low of $48.85 and a 1-year high of $66.63.
SYSCO (NYSE:SYY) last released its quarterly earnings data on Monday, May 7th. The company reported $0.67 earnings per share for the quarter, beating analysts’ consensus estimates of $0.63 by $0.04. The company had revenue of $14.35 billion for the quarter, compared to the consensus estimate of $14.32 billion. SYSCO had a return on equity of 64.33% and a net margin of 2.23%. The company’s quarterly revenue was up 6.1% on a year-over-year basis. During the same period in the previous year, the business earned $0.51 earnings per share. analysts predict that SYSCO Co. will post 2.98 earnings per share for the current year.
Several brokerages recently issued reports on SYY. Morgan Stanley restated a “hold” rating and set a $61.00 price target (down from $64.00) on shares of SYSCO in a research note on Tuesday, May 8th. Zacks Investment Research upgraded SYSCO from a “sell” rating to a “hold” rating in a research note on Wednesday, May 9th. Pivotal Research lowered their price target on SYSCO from $61.00 to $56.00 and set a “buy” rating on the stock in a research note on Wednesday, May 2nd. Credit Suisse Group began coverage on SYSCO in a research note on Tuesday, April 17th. They set an “outperform” rating and a $68.00 price target on the stock. Finally, Citigroup boosted their price target on SYSCO from $60.00 to $63.00 and gave the company a “neutral” rating in a research note on Tuesday, March 27th. Seven investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $65.64.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Private Capital Group LLC boosted its holdings in SYSCO by 970.2% during the first quarter. Private Capital Group LLC now owns 2,044 shares of the company’s stock valued at $123,000 after purchasing an additional 1,853 shares in the last quarter. Centaurus Financial Inc. acquired a new position in shares of SYSCO in the 1st quarter worth approximately $129,000. Valeo Financial Advisors LLC boosted its holdings in shares of SYSCO by 98.7% in the 4th quarter. Valeo Financial Advisors LLC now owns 2,267 shares of the company’s stock worth $138,000 after acquiring an additional 1,126 shares in the last quarter. Bedel Financial Consulting Inc. acquired a new position in shares of SYSCO in the 1st quarter worth approximately $145,000. Finally, Centerpoint Advisors LLC acquired a new position in shares of SYSCO in the 1st quarter worth approximately $149,000. 80.02% of the stock is currently owned by institutional investors.
SYSCO Company Profile
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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