Greg D. Bertrand Sells 48,027 Shares of Sysco Co. (NYSE:SYY) Stock

Sysco Co. (NYSE:SYY) EVP Greg D. Bertrand sold 48,027 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $77.00, for a total value of $3,698,079.00. Following the completion of the transaction, the executive vice president now owns 56,304 shares in the company, valued at $4,335,408. This represents a 46.03 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Sysco Trading Down 0.4 %

Shares of Sysco stock opened at $75.43 on Friday. The company has a debt-to-equity ratio of 5.38, a quick ratio of 0.73 and a current ratio of 1.26. The stock has a market capitalization of $37.05 billion, a P/E ratio of 19.39, a P/E/G ratio of 2.10 and a beta of 1.18. Sysco Co. has a 52-week low of $69.03 and a 52-week high of $82.89. The stock’s 50-day simple moving average is $77.04 and its 200 day simple moving average is $75.67.

Sysco (NYSE:SYY) last announced its quarterly earnings results on Tuesday, October 29th. The company reported $1.09 EPS for the quarter, missing analysts’ consensus estimates of $1.13 by ($0.04). Sysco had a net margin of 2.44% and a return on equity of 101.04%. The business had revenue of $20.48 billion for the quarter, compared to analysts’ expectations of $20.47 billion. During the same quarter in the previous year, the company posted $1.07 earnings per share. The business’s quarterly revenue was up 4.4% compared to the same quarter last year. As a group, research analysts anticipate that Sysco Co. will post 4.57 EPS for the current year.

Sysco Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 24th. Investors of record on Friday, January 3rd will be paid a dividend of $0.51 per share. The ex-dividend date is Friday, January 3rd. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.70%. Sysco’s payout ratio is 52.44%.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Armstrong Advisory Group Inc. lifted its holdings in shares of Sysco by 1,240.0% in the third quarter. Armstrong Advisory Group Inc. now owns 335 shares of the company’s stock worth $26,000 after buying an additional 310 shares in the last quarter. Ashton Thomas Securities LLC purchased a new stake in Sysco in the 3rd quarter worth approximately $26,000. Valley Wealth Managers Inc. bought a new position in Sysco in the 3rd quarter valued at $31,000. Focused Wealth Management Inc purchased a new position in shares of Sysco during the 3rd quarter valued at $37,000. Finally, Fairscale Capital LLC bought a new position in shares of Sysco in the second quarter worth $38,000. Institutional investors own 83.41% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have weighed in on SYY. Wells Fargo & Company dropped their price objective on Sysco from $87.00 to $82.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 30th. StockNews.com cut shares of Sysco from a “strong-buy” rating to a “buy” rating in a report on Wednesday, December 18th. Jefferies Financial Group increased their price objective on shares of Sysco from $91.00 to $95.00 and gave the company a “buy” rating in a research note on Monday, December 16th. JPMorgan Chase & Co. boosted their target price on Sysco from $85.00 to $88.00 and gave the stock an “overweight” rating in a research note on Monday, September 16th. Finally, Melius Research raised Sysco to a “hold” rating in a research report on Wednesday, December 18th. Four investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, Sysco currently has a consensus rating of “Moderate Buy” and an average target price of $85.93.

About Sysco

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