SYSCO Co. (NYSE:SYY) Director Richard G. Tilghman sold 5,000 shares of the firm’s stock in a transaction on Monday, October 15th. The stock was sold at an average price of $68.62, for a total value of $343,100.00. Following the completion of the transaction, the director now directly owns 56,393 shares in the company, valued at $3,869,687.66. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.
Shares of SYY stock opened at $70.55 on Friday. SYSCO Co. has a 52-week low of $52.30 and a 52-week high of $75.98. The company has a quick ratio of 0.74, a current ratio of 1.21 and a debt-to-equity ratio of 3.01. The firm has a market capitalization of $38.07 billion, a price-to-earnings ratio of 22.47, a price-to-earnings-growth ratio of 1.98 and a beta of 0.56.
SYSCO (NYSE:SYY) last issued its quarterly earnings results on Monday, August 13th. The company reported $0.94 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.93 by $0.01. SYSCO had a return on equity of 68.15% and a net margin of 2.44%. The business had revenue of $15.32 billion during the quarter, compared to analyst estimates of $15.30 billion. During the same quarter in the prior year, the business posted $0.72 EPS. SYSCO’s revenue for the quarter was up 6.2% compared to the same quarter last year. Analysts expect that SYSCO Co. will post 3.49 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, October 26th. Shareholders of record on Friday, October 5th will be paid a $0.36 dividend. The ex-dividend date is Thursday, October 4th. This represents a $1.44 dividend on an annualized basis and a yield of 2.04%. SYSCO’s payout ratio is presently 45.86%.
SYY has been the topic of a number of recent research reports. Argus raised their target price on SYSCO from $67.00 to $86.00 and gave the stock a “buy” rating in a report on Thursday, August 16th. Jefferies Financial Group set a $68.00 target price on SYSCO and gave the stock a “hold” rating in a report on Monday, August 13th. ValuEngine cut SYSCO from a “buy” rating to a “hold” rating in a report on Thursday, August 2nd. Zacks Investment Research cut SYSCO from a “hold” rating to a “sell” rating in a report on Monday, July 23rd. Finally, Wells Fargo & Co raised their target price on SYSCO from $71.00 to $80.00 and gave the stock a “$70.32” rating in a report on Wednesday, July 18th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $72.42.
A number of hedge funds have recently modified their holdings of SYY. Blue Chip Partners Inc. purchased a new position in shares of SYSCO during the second quarter valued at about $104,000. Quad Cities Investment Group LLC purchased a new position in shares of SYSCO during the second quarter valued at about $111,000. Flagship Harbor Advisors LLC purchased a new position in shares of SYSCO during the second quarter valued at about $121,000. Private Capital Group LLC grew its position in shares of SYSCO by 970.2% during the first quarter. Private Capital Group LLC now owns 2,044 shares of the company’s stock valued at $123,000 after purchasing an additional 1,853 shares in the last quarter. Finally, Fort L.P. purchased a new position in shares of SYSCO during the second quarter valued at about $123,000. Institutional investors and hedge funds own 80.22% of the company’s stock.
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. It operates through three segments: U.S. Foodservice Operations, International Foodservice Operations, and SYGMA. The company distributes a line of frozen foods, such as meats, seafood, fully prepared entrees, fruits, vegetables, and desserts; a line of canned and dry foods; fresh meats and seafood; dairy products; beverage products; imported specialties; and fresh produce.
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