SYSCO Co. (SYY) Insider Russell T. Libby Sells 13,334 Shares of Stock

SYSCO Co. (NYSE:SYY) insider Russell T. Libby sold 13,334 shares of the company’s stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $60.69, for a total value of $809,240.46. Following the sale, the insider now owns 64,394 shares in the company, valued at approximately $3,908,071.86. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Shares of SYSCO Co. (SYY) traded up $0.21 during trading on Friday, hitting $60.84. The stock had a trading volume of 3,063,400 shares, compared to its average volume of 2,782,033. The company has a debt-to-equity ratio of 3.77, a current ratio of 1.40 and a quick ratio of 0.88. The firm has a market cap of $31,870.00, a PE ratio of 27.78, a price-to-earnings-growth ratio of 2.60 and a beta of 0.53. SYSCO Co. has a fifty-two week low of $48.85 and a fifty-two week high of $62.79.

SYSCO (NYSE:SYY) last announced its quarterly earnings results on Monday, November 6th. The company reported $0.74 earnings per share for the quarter, topping analysts’ consensus estimates 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 business’s quarterly revenue was up 4.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.67 EPS. research analysts forecast that SYSCO Co. will post 2.78 EPS for the current 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 issued a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 2.37%. This is a positive change from SYSCO’s previous quarterly dividend of $0.33. The ex-dividend date is Thursday, January 4th. SYSCO’s dividend payout ratio is 60.27%.

A number of hedge funds have recently modified their holdings of SYY. Janus Henderson Group PLC grew its holdings in SYSCO by 9,055.0% in the 2nd quarter. Janus Henderson Group PLC now owns 5,707,603 shares of the company’s stock worth $287,264,000 after buying an additional 5,645,259 shares in the last quarter. American Century Companies Inc. grew its holdings in SYSCO by 47.6% in the 2nd quarter. American Century Companies Inc. now owns 5,054,930 shares of the company’s stock worth $254,415,000 after buying an additional 1,629,990 shares in the last quarter. Capital World Investors grew its holdings in SYSCO by 11.7% in the 2nd quarter. Capital World Investors now owns 13,767,000 shares of the company’s stock worth $692,893,000 after buying an additional 1,445,000 shares in the last quarter. Nordea Investment Management AB grew its holdings in SYSCO by 252.7% in the 2nd quarter. Nordea Investment Management AB now owns 1,928,089 shares of the company’s stock worth $97,041,000 after buying an additional 1,381,441 shares in the last quarter. Finally, Parnassus Investments CA grew its holdings in SYSCO by 20.3% in the 3rd quarter. Parnassus Investments CA now owns 7,410,401 shares of the company’s stock worth $399,791,000 after buying an additional 1,250,005 shares in the last quarter. 80.07% of the stock is owned by institutional investors and hedge funds.

Several analysts have issued reports on SYY shares. Loop Capital upped their price objective on SYSCO to $68.00 and gave the company a “buy” rating in a research note on Monday, December 11th. Zacks Investment Research cut SYSCO from a “buy” rating to a “hold” rating in a research report on Thursday, November 9th. Pivotal Research reiterated a “hold” rating and set a $53.00 price target on shares of SYSCO in a research report on Sunday, November 5th. Finally, BMO Capital Markets set a $66.00 price target on SYSCO and gave the stock a “buy” rating in a research report on Friday, December 8th. Seven analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $58.55.

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About SYSCO

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)

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