SYSCO Co. (NYSE:SYY) Director Hans-Joachim Koerber sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $73.35, for a total value of $733,500.00. Following the completion of the sale, the director now directly owns 52,872 shares in the company, valued at approximately $3,878,161.20. The transaction was disclosed in a filing with the SEC, which is accessible through this link.
SYY traded down $0.15 during trading on Friday, hitting $73.14. The company’s stock had a trading volume of 551,760 shares, compared to its average volume of 3,582,011. The firm’s 50 day moving average price is $71.22 and its 200-day moving average price is $69.86. The company has a debt-to-equity ratio of 3.25, a current ratio of 1.33 and a quick ratio of 0.81. The stock has a market cap of $37.42 billion, a PE ratio of 20.60, a PEG ratio of 2.02 and a beta of 0.52. SYSCO Co. has a twelve month low of $59.44 and a twelve month high of $75.98.
SYSCO (NYSE:SYY) last issued its quarterly earnings results on Monday, August 12th. The company reported $1.10 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.07 by $0.03. The company had revenue of $15.47 billion during the quarter, compared to the consensus estimate of $15.65 billion. SYSCO had a return on equity of 76.80% and a net margin of 2.79%. SYSCO’s revenue was up 1.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.94 EPS. Equities analysts anticipate that SYSCO Co. will post 3.82 earnings per share for the current year.
SYY has been the topic of a number of recent research reports. Loop Capital upped their target price on SYSCO to $80.00 and gave the company a “buy” rating in a research note on Wednesday, May 8th. Pivotal Research reaffirmed a “sell” rating and issued a $58.00 target price (up previously from $54.00) on shares of SYSCO in a research note on Tuesday, May 7th. Morgan Stanley upped their target price on SYSCO from $69.00 to $72.00 and gave the company an “equal weight” rating in a research note on Tuesday, May 7th. Wells Fargo & Co reaffirmed a “buy” rating on shares of SYSCO in a research note on Monday, August 12th. Finally, JPMorgan Chase & Co. upped their target price on SYSCO from $75.00 to $80.00 and gave the company an “overweight” rating in a research note on Tuesday, August 13th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and seven have given a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $73.60.
A number of institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. raised its holdings in SYSCO by 1.3% in the 2nd quarter. Vanguard Group Inc. now owns 44,414,289 shares of the company’s stock valued at $3,140,979,000 after acquiring an additional 551,581 shares during the last quarter. BlackRock Inc. raised its holdings in SYSCO by 3.3% in the 2nd quarter. BlackRock Inc. now owns 31,130,419 shares of the company’s stock valued at $2,201,542,000 after acquiring an additional 1,004,706 shares during the last quarter. Trian Fund Management L.P. raised its holdings in SYSCO by 2.1% in the 2nd quarter. Trian Fund Management L.P. now owns 23,671,603 shares of the company’s stock valued at $1,674,056,000 after acquiring an additional 489,566 shares during the last quarter. Wells Fargo & Company MN raised its holdings in SYSCO by 2.5% in the 2nd quarter. Wells Fargo & Company MN now owns 10,313,753 shares of the company’s stock valued at $729,388,000 after acquiring an additional 246,850 shares during the last quarter. Finally, Parnassus Investments CA raised its holdings in SYSCO by 4.7% in the 1st quarter. Parnassus Investments CA now owns 8,752,593 shares of the company’s stock valued at $584,323,000 after acquiring an additional 393,096 shares during the last quarter. Institutional investors own 78.54% of the company’s stock.
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. 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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