Sysco (NYSE:SYY) insider Paul T. Moskowitz sold 30,667 shares of the company’s stock in a transaction dated Wednesday, April 18th. The shares were sold at an average price of $62.50, for a total value of $1,916,687.50. Following the sale, the insider now owns 58,329 shares in the company, valued at $3,645,562.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
SYY stock opened at $61.58 on Friday. The company has a current ratio of 1.38, a quick ratio of 0.85 and a debt-to-equity ratio of 3.66. The company has a market capitalization of $32,280.67, a P/E ratio of 24.83, a P/E/G ratio of 2.09 and a beta of 0.55. Sysco has a 1-year low of $48.85 and a 1-year high of $64.27.
Sysco (NYSE:SYY) last posted its quarterly earnings data on Monday, February 5th. The company reported $0.66 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.65 by $0.01. The company had revenue of $14.41 billion for the quarter, compared to analysts’ expectations of $14.15 billion. Sysco had a net margin of 2.10% and a return on equity of 61.02%. Sysco’s revenue for the quarter was up 7.1% compared to the same quarter last year. During the same period in the prior year, the business earned $0.58 earnings per share. sell-side analysts predict that Sysco will post 2.93 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 27th. Investors of record on Friday, April 6th will be given a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 2.34%. The ex-dividend date of this dividend is Thursday, April 5th. Sysco’s dividend payout ratio (DPR) is 58.06%.
Several brokerages have recently weighed in on SYY. Morgan Stanley upgraded Sysco from an “underweight” rating to an “equal weight” rating and set a $64.00 price target on the stock in a research report on Tuesday, January 16th. Citigroup upped their price target on Sysco from $60.00 to $63.00 and gave the company a “neutral” rating in a research report on Tuesday, March 27th. Credit Suisse Group began coverage on Sysco in a research report on Tuesday. They set an “outperform” rating and a $68.00 price target on the stock. Jefferies Group set a $67.00 price target on Sysco and gave the company a “hold” rating in a research report on Monday, February 5th. Finally, BMO Capital Markets set a $74.00 price target on Sysco and gave the company a “buy” rating in a research report on Monday, February 5th. One analyst has rated the stock with a sell rating, six have given a hold rating and seven have given a buy rating to the company. Sysco currently has a consensus rating of “Hold” and a consensus price target of $65.25.
Several hedge funds have recently bought and sold shares of SYY. Miller Howard Investments Inc. NY bought a new position in shares of Sysco in the fourth quarter worth approximately $60,798,000. Millennium Management LLC increased its position in shares of Sysco by 701.8% in the fourth quarter. Millennium Management LLC now owns 1,057,931 shares of the company’s stock worth $64,248,000 after purchasing an additional 925,982 shares during the last quarter. Element Capital Management LLC bought a new position in shares of Sysco in the fourth quarter worth approximately $45,129,000. Amundi Pioneer Asset Management Inc. bought a new position in shares of Sysco in the fourth quarter worth approximately $31,092,000. Finally, American Century Companies Inc. boosted its stake in Sysco by 7.5% in the fourth quarter. American Century Companies Inc. now owns 6,578,176 shares of the company’s stock worth $399,493,000 after buying an additional 457,259 shares in the last quarter. Institutional investors own 79.02% of the company’s stock.
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Sysco Company Profile
Sysco Corporation, through its subsidiaries, markets and distributes a range of food and related products primarily to the foodservice or food-away-from-home industry in the United States, Canada, Bahamas, Mexico, Costa Rica, Panama, the United Kingdom, France, Sweden, Ireland, Belgium, Spain, and Luxembourg.
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