Paul T. Moskowitz Sells 16,667 Shares of Sysco Corporation (SYY) Stock
Sysco Corporation (NYSE:SYY) insider Paul T. Moskowitz sold 16,667 shares of Sysco Corporation stock in a transaction that occurred on Friday, September 29th. The shares were sold at an average price of $54.12, for a total value of $902,018.04. Following the transaction, the insider now directly owns 61,936 shares in the company, valued at approximately $3,351,976.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Sysco Corporation (NYSE:SYY) opened at 53.74 on Wednesday. The company’s 50-day moving average is $52.90 and its 200 day moving average is $52.69. Sysco Corporation has a 52-week low of $47.15 and a 52-week high of $57.07. The company has a market cap of $28.37 billion, a price-to-earnings ratio of 25.84 and a beta of 0.52.
Sysco Corporation (NYSE:SYY) last released its quarterly earnings data on Monday, August 14th. The company reported $0.72 EPS for the quarter, beating the consensus estimate of $0.71 by $0.01. Sysco Corporation had a return on equity of 53.25% and a net margin of 2.06%. The company had revenue of $14.40 billion for the quarter, compared to analysts’ expectations of $14.35 billion. During the same period last year, the firm posted $0.64 earnings per share. Sysco Corporation’s revenue was up 5.5% compared to the same quarter last year. Equities analysts forecast that Sysco Corporation will post $2.76 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 27th. Stockholders of record on Friday, October 6th will be issued a dividend of $0.33 per share. The ex-dividend date is Thursday, October 5th. This represents a $1.32 annualized dividend and a dividend yield of 2.46%. Sysco Corporation’s payout ratio is 63.16%.
A number of equities research analysts recently commented on SYY shares. Wells Fargo & Company reissued a “buy” rating on shares of Sysco Corporation in a research report on Monday, August 14th. Zacks Investment Research downgraded shares of Sysco Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, July 11th. BMO Capital Markets set a $60.00 price objective on shares of Sysco Corporation and gave the stock a “buy” rating in a report on Thursday, August 3rd. BidaskClub lowered shares of Sysco Corporation from a “buy” rating to a “hold” rating in a research note on Wednesday, June 21st. Finally, Bank of America Corporation reiterated a “buy” rating and issued a $61.00 target price on shares of Sysco Corporation in a research note on Monday, June 26th. Nine research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $56.17.
Institutional investors and hedge funds have recently made changes to their positions in the business. TrimTabs Asset Management LLC increased its position in Sysco Corporation by 88.7% during the first quarter. TrimTabs Asset Management LLC now owns 2,162 shares of the company’s stock valued at $112,000 after acquiring an additional 1,016 shares during the last quarter. Arcadia Investment Management Corp MI boosted its position in Sysco Corporation by 10.7% in the second quarter. Arcadia Investment Management Corp MI now owns 2,336 shares of the company’s stock worth $118,000 after purchasing an additional 225 shares during the last quarter. Acrospire Investment Management LLC boosted its position in Sysco Corporation by 84.6% in the second quarter. Acrospire Investment Management LLC now owns 2,400 shares of the company’s stock worth $121,000 after purchasing an additional 1,100 shares during the last quarter. Manchester Capital Management LLC boosted its position in Sysco Corporation by 13.4% in the second quarter. Manchester Capital Management LLC now owns 2,538 shares of the company’s stock worth $128,000 after purchasing an additional 300 shares during the last quarter. Finally, Kistler Tiffany Companies LLC boosted its position in Sysco Corporation by 0.4% in the second quarter. Kistler Tiffany Companies LLC now owns 2,915 shares of the company’s stock worth $147,000 after purchasing an additional 12 shares during the last quarter. Institutional investors and hedge funds own 79.91% of the company’s stock.
About Sysco Corporation
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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