Trian Fund Management, L.P. Sells 707,000 Shares of SYSCO Co. (SYY) Stock

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SYSCO Co. (NYSE:SYY) Director Trian Fund Management, L.P. sold 707,000 shares of SYSCO stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $66.30, for a total transaction of $46,874,100.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

SYY traded down $0.33 during trading on Thursday, reaching $66.12. 2,193,796 shares of the company’s stock were exchanged, compared to its average volume of 3,313,909. SYSCO Co. has a 1 year low of $58.12 and a 1 year high of $75.98. The company has a current ratio of 1.25, a quick ratio of 0.76 and a debt-to-equity ratio of 3.70. The firm has a market capitalization of $34.12 billion, a PE ratio of 21.06, a P/E/G ratio of 1.89 and a beta of 0.54.

SYSCO (NYSE:SYY) last posted its quarterly earnings results on Monday, February 4th. The company reported $0.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.72 by $0.03. SYSCO had a net margin of 2.48% and a return on equity of 71.45%. The company had revenue of $14.80 billion during the quarter, compared to analyst estimates of $14.75 billion. During the same period last year, the firm posted $0.78 EPS. SYSCO’s revenue for the quarter was up 2.8% compared to the same quarter last year. As a group, analysts predict that SYSCO Co. will post 3.4 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 26th. Shareholders of record on Friday, April 5th will be given a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a yield of 2.36%. The ex-dividend date is Thursday, April 4th. SYSCO’s dividend payout ratio is presently 49.68%.

A number of analysts recently commented on the stock. Zacks Investment Research reiterated a “hold” rating on shares of SYSCO in a research note on Friday, November 16th. Loop Capital set a $75.00 target price on shares of SYSCO and gave the stock a “buy” rating in a research note on Friday, December 14th. Pivotal Research reiterated a “sell” rating and issued a $54.00 target price on shares of SYSCO in a research note on Friday, February 1st. Finally, Bank of America cut shares of SYSCO from a “buy” rating to a “neutral” rating and set a $68.00 target price for the company. in a research note on Wednesday, January 16th. One equities research analyst has rated the stock with a sell rating, six have assigned 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 $72.92.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Whittier Trust Co. increased its holdings in shares of SYSCO by 1.1% during the 4th quarter. Whittier Trust Co. now owns 14,950 shares of the company’s stock valued at $936,000 after purchasing an additional 160 shares in the last quarter. Financial Counselors Inc. increased its holdings in shares of SYSCO by 1.8% during the 4th quarter. Financial Counselors Inc. now owns 8,904 shares of the company’s stock valued at $558,000 after purchasing an additional 161 shares in the last quarter. Valley National Advisers Inc. increased its holdings in shares of SYSCO by 60.5% during the 4th quarter. Valley National Advisers Inc. now owns 472 shares of the company’s stock valued at $30,000 after purchasing an additional 178 shares in the last quarter. Kaizen Advisory LLC increased its holdings in shares of SYSCO by 17.2% during the 4th quarter. Kaizen Advisory LLC now owns 1,337 shares of the company’s stock valued at $84,000 after purchasing an additional 196 shares in the last quarter. Finally, Burney Co. increased its holdings in shares of SYSCO by 1.2% during the 4th quarter. Burney Co. now owns 16,817 shares of the company’s stock valued at $1,054,000 after purchasing an additional 200 shares in the last quarter. 79.38% of the stock is owned by institutional investors.

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About SYSCO

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. It operates through three segments: U.S. Foodservice Operations, International Foodservice Operations, and SYGMA. The company distributes a line of frozen foods, such as meats, seafood, fully prepared entrees, fruits, vegetables, and desserts; a line of canned and dry foods; fresh meats and seafood; dairy products; beverage products; imported specialties; and fresh produce.

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

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