Insider Selling: Sysco Co. (NYSE:SYY) EVP Sells 48,027 Shares of Stock

Sysco Co. (NYSE:SYY) EVP Greg D. Bertrand sold 48,027 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $77.00, for a total transaction of $3,698,079.00. Following the completion of the sale, the executive vice president now directly owns 56,304 shares in the company, valued at $4,335,408. This represents a 46.03 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Sysco Price Performance

Shares of Sysco stock opened at $75.43 on Friday. The firm has a market cap of $37.05 billion, a PE ratio of 19.39, a price-to-earnings-growth ratio of 2.10 and a beta of 1.18. The company’s fifty day simple moving average is $77.04 and its two-hundred day simple moving average is $75.67. The company has a quick ratio of 0.73, a current ratio of 1.26 and a debt-to-equity ratio of 5.38. Sysco Co. has a 12-month low of $69.03 and a 12-month high of $82.89.

Sysco (NYSE:SYY) last announced its quarterly earnings results on Tuesday, October 29th. The company reported $1.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.13 by ($0.04). Sysco had a net margin of 2.44% and a return on equity of 101.04%. The business had revenue of $20.48 billion for the quarter, compared to analysts’ expectations of $20.47 billion. During the same quarter in the prior year, the firm earned $1.07 EPS. The firm’s revenue for the quarter was up 4.4% on a year-over-year basis. As a group, equities analysts expect that Sysco Co. will post 4.57 EPS for the current year.

Sysco Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 24th. Investors of record on Friday, January 3rd will be paid a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 2.70%. The ex-dividend date of this dividend is Friday, January 3rd. Sysco’s payout ratio is 52.44%.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in SYY. Armstrong Advisory Group Inc. boosted its stake in shares of Sysco by 1,240.0% during the 3rd quarter. Armstrong Advisory Group Inc. now owns 335 shares of the company’s stock valued at $26,000 after purchasing an additional 310 shares in the last quarter. Ashton Thomas Securities LLC bought a new stake in Sysco during the 3rd quarter valued at approximately $26,000. Valley Wealth Managers Inc. purchased a new position in shares of Sysco during the 3rd quarter worth approximately $31,000. Focused Wealth Management Inc bought a new position in shares of Sysco in the 3rd quarter worth approximately $37,000. Finally, Canoe Financial LP purchased a new position in shares of Sysco in the 3rd quarter valued at approximately $38,000. 83.41% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have recently issued reports on SYY shares. Melius Research raised shares of Sysco to a “hold” rating in a report on Wednesday, December 18th. JPMorgan Chase & Co. upped their price objective on Sysco from $85.00 to $88.00 and gave the stock an “overweight” rating in a report on Monday, September 16th. Wells Fargo & Company decreased their price objective on Sysco from $87.00 to $82.00 and set an “overweight” rating on the stock in a report on Wednesday, October 30th. StockNews.com lowered Sysco from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, December 18th. Finally, Melius assumed coverage on shares of Sysco in a research note on Wednesday, December 18th. They set a “hold” rating and a $85.00 price target on the stock. Four equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $85.93.

About Sysco

Sysco Corporation, through its subsidiaries, engages in the marketing and distribution of various food and related products to the foodservice or food-away-from-home industry in the United States, Canada, the United Kingdom, France, and internationally. It operates through U.S. Foodservice Operations, International Foodservice Operations, SYGMA, and Other segments.