Sysco Co. (NYSE:SYY) CEO Kevin Hourican Sells 75,018 Shares

Sysco Co. (NYSE:SYYGet Rating) CEO Kevin Hourican sold 75,018 shares of Sysco stock in a transaction that occurred on Friday, April 8th. The stock was sold at an average price of $86.00, for a total value of $6,451,548.00. The sale was disclosed in a filing with the SEC, which is available at this link.

Sysco stock traded down $0.86 during midday trading on Monday, reaching $84.71. 2,894,689 shares of the stock were exchanged, compared to its average volume of 2,645,490. The company’s fifty day moving average is $82.08 and its 200-day moving average is $79.13. The firm has a market cap of $43.43 billion, a PE ratio of 55.73, a PEG ratio of 2.56 and a beta of 1.26. The company has a debt-to-equity ratio of 8.68, a quick ratio of 0.78 and a current ratio of 1.33. Sysco Co. has a 52 week low of $68.05 and a 52 week high of $89.22.

Sysco (NYSE:SYYGet Rating) last posted its quarterly earnings data on Tuesday, February 8th. The company reported $0.57 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.69 by ($0.12). The business had revenue of $16.32 billion for the quarter, compared to the consensus estimate of $15.88 billion. Sysco had a net margin of 1.29% and a return on equity of 82.36%. Sysco’s quarterly revenue was up 41.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.17 EPS. On average, sell-side analysts anticipate that Sysco Co. will post 3.04 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, April 22nd. Investors of record on Friday, April 1st will be paid a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 2.22%. The ex-dividend date of this dividend is Thursday, March 31st. Sysco’s dividend payout ratio is currently 123.69%.

Hedge funds have recently added to or reduced their stakes in the business. EverSource Wealth Advisors LLC purchased a new stake in Sysco in the fourth quarter worth approximately $25,000. Allegheny Financial Group LTD purchased a new position in Sysco in the 4th quarter worth $31,000. KRS Capital Management LLC purchased a new stake in Sysco during the fourth quarter valued at about $31,000. Bell Investment Advisors Inc bought a new position in shares of Sysco during the third quarter valued at about $36,000. Finally, Atticus Wealth Management LLC purchased a new position in shares of Sysco in the fourth quarter worth about $39,000. 80.94% of the stock is owned by institutional investors and hedge funds.

Several research firms have recently commented on SYY. Argus raised shares of Sysco from a “hold” rating to a “buy” rating and set a $95.00 target price for the company in a research report on Tuesday, February 22nd. Piper Sandler boosted their price target on shares of Sysco from $83.00 to $90.00 and gave the stock an “overweight” rating in a report on Friday. JPMorgan Chase & Co. decreased their price objective on shares of Sysco from $90.00 to $88.00 and set a “neutral” rating for the company in a research note on Friday, December 17th. Morgan Stanley boosted their target price on Sysco from $85.00 to $86.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 9th. Finally, StockNews.com started coverage on Sysco in a research report on Thursday, March 31st. They set a “buy” rating for the company. Four investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, Sysco currently has a consensus rating of “Buy” and a consensus price target of $88.89.

About Sysco (Get Rating)

Sysco Corporation, through its subsidiaries, engages in the marketing and distribution of various food and related products primarily 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.

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Insider Buying and Selling by Quarter for Sysco (NYSE:SYY)

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