SYSCO Co. (SYY) Director Sells $150,729,025.46 in Stock

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.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 27th. Shareholders of record on Friday, July 6th will be issued a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 2.17%. The ex-dividend date of this dividend is Thursday, July 5th. SYSCO’s payout ratio is 58.06%.

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.

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

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