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

Sysco Co. (NYSE:SYY - Get Free Report) EVP Greg D. Bertrand sold 48,027 shares of Sysco stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $77.00, for a total value of $3,698,079.00. Following the sale, the executive vice president now owns 56,304 shares in the company, valued at $4,335,408. This trade represents a 46.03 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Sysco Price Performance

SYY traded down $0.28 on Friday, hitting $75.43. 1,727,229 shares of the company were exchanged, compared to its average volume of 1,685,464. The business's fifty day moving average is $77.00 and its 200 day moving average is $75.66. Sysco Co. has a fifty-two week low of $69.03 and a fifty-two week high of $82.89. The company has a debt-to-equity ratio of 5.38, a quick ratio of 0.73 and a current ratio of 1.26. The firm has a market capitalization of $37.05 billion, a P/E ratio of 19.39, a price-to-earnings-growth ratio of 2.10 and a beta of 1.18.

Sysco (NYSE:SYY - Get Free Report) last posted its earnings results on Tuesday, October 29th. The company reported $1.09 earnings per share for the quarter, missing the consensus estimate 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 last year, the business posted $1.07 earnings per share. The business's revenue was up 4.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that Sysco Co. will post 4.57 EPS for the current year.

Sysco Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 24th. Stockholders of record on Friday, January 3rd will be given a $0.51 dividend. The ex-dividend date is Friday, January 3rd. This represents a $2.04 annualized dividend and a dividend yield of 2.70%. Sysco's dividend payout ratio is currently 52.44%.

Institutional Trading of Sysco

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. State Street Corp boosted its stake in shares of Sysco by 11.1% during the 3rd quarter. State Street Corp now owns 27,294,612 shares of the company's stock worth $2,130,617,000 after purchasing an additional 2,721,449 shares during the last quarter. ProShare Advisors LLC boosted its position in Sysco by 103.0% during the second quarter. ProShare Advisors LLC now owns 4,746,176 shares of the company's stock worth $338,830,000 after acquiring an additional 2,408,226 shares during the last quarter. Diamond Hill Capital Management Inc. grew its stake in Sysco by 49.8% in the 2nd quarter. Diamond Hill Capital Management Inc. now owns 6,012,607 shares of the company's stock worth $429,240,000 after acquiring an additional 1,997,895 shares during the period. Ameriprise Financial Inc. raised its holdings in Sysco by 26.1% in the 2nd quarter. Ameriprise Financial Inc. now owns 8,623,178 shares of the company's stock valued at $615,076,000 after acquiring an additional 1,782,180 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA purchased a new position in shares of Sysco during the 3rd quarter worth $137,900,000. Hedge funds and other institutional investors own 83.41% of the company's stock.

Wall Street Analyst Weigh In

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

Sysco Company Profile

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.