SYSCO Co. (SYY) SVP Sells $702,026.00 in Stock

SYSCO Co. (NYSE:SYY) SVP William W. Goetz sold 11,323 shares of the company’s stock in a transaction that occurred on Tuesday, January 16th. The stock was sold at an average price of $62.00, for a total value of $702,026.00. Following the transaction, the senior vice president now owns 35,825 shares in the company, valued at approximately $2,221,150. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

Shares of SYSCO Co. (NYSE SYY) opened at $63.21 on Friday. The firm has a market capitalization of $32,940.00, a P/E ratio of 28.86, a P/E/G ratio of 2.43 and a beta of 0.53. SYSCO Co. has a 52 week low of $48.85 and a 52 week high of $63.30. The company has a debt-to-equity ratio of 3.77, a current ratio of 1.40 and a quick ratio of 0.88.

SYSCO (NYSE:SYY) last released its quarterly earnings data on Monday, November 6th. The company reported $0.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.72 by $0.02. The business had revenue of $14.65 billion for the quarter, compared to analysts’ expectations of $14.43 billion. SYSCO had a return on equity of 58.47% and a net margin of 2.12%. The firm’s quarterly revenue was up 4.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.67 EPS. analysts forecast that SYSCO Co. will post 2.85 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 26th. Investors of record on Friday, January 5th will be given a $0.36 dividend. The ex-dividend date of this dividend is Thursday, January 4th. This is a boost from SYSCO’s previous quarterly dividend of $0.33. This represents a $1.44 annualized dividend and a yield of 2.28%. SYSCO’s dividend payout ratio is 65.75%.

A number of research firms have weighed in on SYY. Zacks Investment Research upgraded SYSCO from a “hold” rating to a “buy” rating and set a $60.00 target price on the stock in a report on Tuesday, October 10th. Morgan Stanley upgraded SYSCO from an “underweight” rating to an “equal weight” rating and set a $64.00 price target on the stock in a research note on Tuesday, January 16th. BMO Capital Markets set a $66.00 price target on SYSCO and gave the stock a “buy” rating in a research note on Friday, December 8th. Pivotal Research upped their price target on SYSCO from $53.00 to $60.00 and gave the stock a “buy” rating in a research note on Tuesday, December 12th. Finally, Loop Capital upped their price target on SYSCO to $68.00 and gave the stock a “buy” rating in a research note on Monday, December 11th. Seven analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Buy” and an average target price of $59.92.

A number of hedge funds have recently added to or reduced their stakes in the stock. Ingalls & Snyder LLC bought a new position in SYSCO in the 4th quarter valued at approximately $279,000. Mathes Company Inc. bought a new position in SYSCO in the 4th quarter valued at approximately $237,000. BKD Wealth Advisors LLC lifted its position in SYSCO by 6.8% in the 4th quarter. BKD Wealth Advisors LLC now owns 59,051 shares of the company’s stock valued at $3,586,000 after acquiring an additional 3,781 shares in the last quarter. Fox Run Management L.L.C. bought a new position in SYSCO in the 4th quarter valued at approximately $399,000. Finally, Berkshire Asset Management LLC PA lifted its position in SYSCO by 9.9% in the 4th quarter. Berkshire Asset Management LLC PA now owns 43,573 shares of the company’s stock valued at $2,646,000 after acquiring an additional 3,932 shares in the last quarter. 80.08% of the stock is currently owned by institutional investors and hedge funds.

COPYRIGHT VIOLATION NOTICE: This article was first reported by Week Herald and is owned by of Week Herald. If you are reading this article on another site, it was illegally stolen and reposted in violation of U.S. and international copyright legislation. The original version of this article can be viewed at https://weekherald.com/2018/01/21/sysco-co-syy-svp-sells-702026-00-in-stock.html.

SYSCO 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 (NYSE:SYY)

Receive News & Ratings for SYSCO Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SYSCO and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply