Insider Selling: Sysco Co. (NYSE:SYY) EVP Sells 50,000 Shares of Stock

Sysco Co. (NYSE:SYYGet Rating) EVP Greg D. Bertrand sold 50,000 shares of the company’s stock in a transaction dated Thursday, April 21st. The stock was sold at an average price of $90.00, for a total transaction of $4,500,000.00. Following the completion of the sale, the executive vice president now owns 32,324 shares in the company, valued at approximately $2,909,160. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

SYY traded down $0.94 during trading on Friday, hitting $88.80. The company’s stock had a trading volume of 2,362,836 shares, compared to its average volume of 2,595,711. The company has a quick ratio of 0.78, a current ratio of 1.33 and a debt-to-equity ratio of 8.68. Sysco Co. has a one year low of $68.05 and a one year high of $91.53. The firm has a market cap of $45.52 billion, a PE ratio of 58.76, a P/E/G ratio of 2.48 and a beta of 1.26. The business’s 50 day simple moving average is $83.20 and its 200-day simple moving average is $79.54.

Sysco (NYSE:SYYGet Rating) last released its quarterly earnings results on Tuesday, February 8th. The company reported $0.57 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.69 by ($0.12). The business had revenue of $16.32 billion during the quarter, compared to the consensus estimate of $15.88 billion. Sysco had a return on equity of 82.36% and a net margin of 1.29%. The firm’s revenue was up 41.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.17 earnings per share. Equities research analysts expect that Sysco Co. will post 3.17 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 22nd. Stockholders of record on Friday, April 1st will be given a dividend of $0.47 per share. The ex-dividend date of this dividend is Thursday, March 31st. This represents a $1.88 annualized dividend and a dividend yield of 2.12%. Sysco’s payout ratio is 123.69%.

A number of research firms have recently commented on SYY. Piper Sandler increased their price target on shares of Sysco from $83.00 to $90.00 and gave the company an “overweight” rating in a report on Friday, April 8th. Morgan Stanley increased their price target on shares of Sysco from $85.00 to $86.00 and gave the company an “equal weight” rating in a report on Wednesday, February 9th. StockNews.com began coverage on shares of Sysco in a report on Thursday, March 31st. They set a “buy” rating on the stock. Argus upgraded shares of Sysco from a “hold” rating to a “buy” rating and set a $95.00 price target on the stock in a report on Tuesday, February 22nd. Finally, CL King assumed coverage on shares of Sysco in a report on Friday, March 11th. They set a “neutral” rating on the stock. Four research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, Sysco has a consensus rating of “Buy” and a consensus price target of $88.89.

Several hedge funds have recently made changes to their positions in the company. Field & Main Bank raised its position in shares of Sysco by 1.7% during the 1st quarter. Field & Main Bank now owns 7,030 shares of the company’s stock valued at $574,000 after purchasing an additional 115 shares during the period. Ellevest Inc. raised its position in shares of Sysco by 2.9% during the 1st quarter. Ellevest Inc. now owns 4,190 shares of the company’s stock valued at $342,000 after purchasing an additional 120 shares during the period. Wagner Wealth Management LLC raised its position in shares of Sysco by 25.9% during the 4th quarter. Wagner Wealth Management LLC now owns 608 shares of the company’s stock valued at $48,000 after purchasing an additional 125 shares during the period. Leavell Investment Management Inc. raised its position in shares of Sysco by 3.3% during the 1st quarter. Leavell Investment Management Inc. now owns 4,069 shares of the company’s stock valued at $334,000 after purchasing an additional 130 shares during the period. Finally, Parsons Capital Management Inc. RI raised its position in shares of Sysco by 0.6% during the 3rd quarter. Parsons Capital Management Inc. RI now owns 22,312 shares of the company’s stock valued at $1,752,000 after purchasing an additional 131 shares during the period. Hedge funds and other institutional investors own 80.94% of the company’s stock.

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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