Investors Buy Sysco (SYY) on Weakness Following Insider Selling

Investors purchased shares of Sysco (NYSE:SYY) on weakness during trading hours on Friday after an insider sold shares in the company. $61.11 million flowed into the stock on the tick-up and $17.04 million flowed out of the stock on the tick-down, for a money net flow of $44.07 million into the stock. Of all stocks tracked, Sysco had the 27th highest net in-flow for the day. Sysco traded down ($0.43) for the day and closed at $61.15Specifically, EVP Wayne Shurts sold 7,800 shares of the company’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $58.98, for a total value of $460,044.00. Following the completion of the sale, the executive vice president now directly owns 55,235 shares in the company, valued at approximately $3,257,760.30. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Paul T. Moskowitz sold 15,334 shares of the company’s stock in a transaction on Friday, March 9th. The shares were sold at an average price of $60.69, for a total value of $930,620.46. Following the completion of the sale, the insider now owns 58,329 shares of the company’s stock, valued at $3,539,987.01. The disclosure for this sale can be found here. Insiders have sold 79,076 shares of company stock valued at $4,838,936 over the last quarter. 9.60% of the stock is owned by company insiders.

Several analysts have issued reports on the company. Credit Suisse Group began coverage on Sysco in a report on Tuesday, April 17th. They issued an “outperform” rating and a $68.00 target price for the company. Zacks Investment Research lowered Sysco from a “hold” rating to a “sell” rating in a research note on Thursday, April 12th. Citigroup upped their price target on Sysco from $60.00 to $63.00 and gave the company a “neutral” rating in a research note on Tuesday, March 27th. Bank of America upped their price target on Sysco from $68.00 to $70.00 and gave the company a “buy” rating in a research note on Tuesday, February 6th. Finally, Loop Capital decreased their price target on Sysco from $72.00 to $70.00 and set a “buy” rating on the stock in a research note on Tuesday, February 6th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and seven have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $65.25.

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The company has a market cap of $32,139.76, a P/E ratio of 24.66, a price-to-earnings-growth ratio of 2.08 and a beta of 0.55. The company has a debt-to-equity ratio of 3.66, a current ratio of 1.38 and a quick ratio of 0.85.

Sysco (NYSE:SYY) last posted its earnings results on Monday, February 5th. The company reported $0.66 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.65 by $0.01. Sysco had a return on equity of 61.02% and a net margin of 2.10%. The firm had revenue of $14.41 billion for the quarter, compared to analyst estimates of $14.15 billion. During the same quarter in the prior year, the company earned $0.58 EPS. Sysco’s revenue was up 7.1% on a year-over-year basis. research analysts predict that Sysco will post 2.93 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, April 27th. Investors of record on Friday, April 6th will be paid a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 2.35%. The ex-dividend date of this dividend is Thursday, April 5th. Sysco’s payout ratio is 58.06%.

A number of institutional investors and hedge funds have recently bought and sold shares of SYY. Dimensional Fund Advisors LP lifted its stake in Sysco by 0.5% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,291,486 shares of the company’s stock worth $69,676,000 after acquiring an additional 6,462 shares in the last quarter. Neuberger Berman Group LLC lifted its stake in Sysco by 2.5% during the 3rd quarter. Neuberger Berman Group LLC now owns 41,894 shares of the company’s stock worth $2,260,000 after acquiring an additional 1,009 shares in the last quarter. Atlantic Trust Group LLC lifted its stake in Sysco by 23.0% during the 3rd quarter. Atlantic Trust Group LLC now owns 56,304 shares of the company’s stock worth $3,036,000 after acquiring an additional 10,527 shares in the last quarter. QUANTRES ASSET MANAGEMENT Ltd acquired a new position in Sysco during the 4th quarter worth about $765,000. Finally, DnB Asset Management AS lifted its stake in Sysco by 4.2% during the 4th quarter. DnB Asset Management AS now owns 67,158 shares of the company’s stock worth $4,079,000 after acquiring an additional 2,700 shares in the last quarter. 79.02% of the stock is currently owned by hedge funds and other institutional investors.

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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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