Insider Selling: Sysco Co. (NYSE:SYY) EVP Sells $3,698,079.00 in Stock

Sysco Co. (NYSE:SYY) 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

Shares of NYSE:SYY opened at $75.43 on Monday. Sysco Co. has a 12 month low of $69.03 and a 12 month high of $82.89. The company has a debt-to-equity ratio of 5.38, a current ratio of 1.26 and a quick ratio of 0.73. The business’s 50 day simple moving average is $77.04 and its 200-day simple moving average is $75.72. The firm has a market capitalization of $37.05 billion, a price-to-earnings ratio of 19.39, a price-to-earnings-growth ratio of 2.10 and a beta of 1.18.

Sysco (NYSE:SYY) last posted its 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 company had revenue of $20.48 billion during the quarter, compared to analysts’ expectations of $20.47 billion. During the same period in the previous year, the company posted $1.07 EPS. Sysco’s quarterly revenue was up 4.4% compared to the same quarter last year. As a group, equities analysts forecast that Sysco Co. will post 4.57 earnings per share for the current fiscal year.

Sysco Dividend Announcement

The business also recently announced 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 is Friday, January 3rd. Sysco’s payout ratio is currently 52.44%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. JPMorgan Chase & Co. boosted their price target on Sysco from $85.00 to $88.00 and gave the company an “overweight” rating in a research report on Monday, September 16th. StockNews.com lowered Sysco from a “strong-buy” rating to a “buy” rating in a report on Wednesday, December 18th. Wells Fargo & Company lowered 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. Melius Research raised Sysco to a “hold” rating in a report on Wednesday, December 18th. Finally, Melius started coverage on Sysco in a report on Wednesday, December 18th. They issued a “hold” rating and a $85.00 price objective on the stock. Four analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, Sysco currently has a consensus rating of “Moderate Buy” and a consensus target price of $85.93.

Institutional Investors Weigh In On Sysco

Institutional investors and hedge funds have recently bought and sold shares of the stock. Armstrong Advisory Group Inc. raised its holdings in Sysco by 1,240.0% in the 3rd quarter. Armstrong Advisory Group Inc. now owns 335 shares of the company’s stock valued at $26,000 after acquiring an additional 310 shares during the last quarter. Ashton Thomas Securities LLC acquired a new position in Sysco in the 3rd quarter valued at $26,000. Valley Wealth Managers Inc. acquired a new position in Sysco in the 3rd quarter valued at $31,000. Focused Wealth Management Inc acquired a new position in Sysco in the 3rd quarter valued at $37,000. Finally, Fairscale Capital LLC acquired a new position in Sysco in the 2nd quarter valued at $38,000. Hedge funds and other institutional investors own 83.41% of the company’s stock.

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.