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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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.
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