Aaron E. Alt Buys 1,000 Shares of Sysco Co. (NYSE:SYY) Stock

Sysco Co. (NYSE:SYY – Get Rating) CFO Aaron E. Alt purchased 1,000 shares of the firm’s stock in a transaction on Tuesday, June 21st. The stock was acquired at an average price of $80.09 per share, with a total value of $80,090.00. Following the completion of the purchase, the chief financial officer now owns 14,220 shares of the company’s stock, valued at approximately $1,138,879.80. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website.

SYY traded down $1.77 during trading on Wednesday, hitting $78.30. The company’s stock had a trading volume of 2,368,117 shares, compared to its average volume of 2,521,957. The company has a current ratio of 1.24, a quick ratio of 0.72 and a debt-to-equity ratio of 8.03. Sysco Co. has a twelve month low of $68.05 and a twelve month high of $91.53. The business’s fifty day simple moving average is $83.58 and its 200 day simple moving average is $81.18. The firm has a market capitalization of $39.89 billion, a price-to-earnings ratio of 40.36, a P/E/G ratio of 2.22 and a beta of 1.15.

Sysco (NYSE:SYY – Get Rating) last issued its quarterly earnings data on Tuesday, May 10th. The company reported $0.71 EPS for the quarter, beating the consensus estimate of $0.54 by $0.17. Sysco had a return on equity of 100.62% and a net margin of 1.52%. The company had revenue of $16.90 billion for the quarter, compared to analyst estimates of $15.99 billion. During the same period last year, the company earned $0.22 earnings per share. Sysco’s quarterly revenue was up 42.9% compared to the same quarter last year. As a group, equities research analysts forecast that Sysco Co. will post 3.23 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 22nd. Investors of record on Friday, July 1st will be given a dividend of $0.49 per share. This is an increase from Sysco’s previous quarterly dividend of $0.47. The ex-dividend date of this dividend is Thursday, June 30th. This represents a $1.96 dividend on an annualized basis and a yield of 2.50%. Sysco’s dividend payout ratio (DPR) is presently 96.91%.

A number of institutional investors have recently made changes to their positions in SYY. EverSource Wealth Advisors LLC acquired a new stake in Sysco during the fourth quarter worth $25,000. CFS Investment Advisory Services LLC increased its stake in Sysco by 8,046.2% during the first quarter. CFS Investment Advisory Services LLC now owns 2,049,905 shares of the company’s stock worth $25,000 after acquiring an additional 2,024,741 shares during the last quarter. Oliver Lagore Vanvalin Investment Group acquired a new stake in Sysco during the first quarter worth $29,000. Allegheny Financial Group LTD acquired a new stake in Sysco during the fourth quarter worth $31,000. Finally, KRS Capital Management LLC acquired a new stake in Sysco during the fourth quarter worth $31,000. Hedge funds and other institutional investors own 80.64% of the company’s stock.

SYY has been the subject of a number of research analyst reports. StockNews.com cut Sysco from a “strong-buy” rating to a “buy” rating in a research note on Monday. Morgan Stanley increased their price objective on Sysco from $86.00 to $94.00 in a report on Wednesday, May 11th. CL King initiated coverage on Sysco in a report on Friday, March 11th. They issued a “neutral” rating on the stock. Argus raised Sysco from a “hold” rating to a “buy” rating and set a $95.00 price objective on the stock in a report on Tuesday, February 22nd. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on Sysco from $82.00 to $84.00 in a report on Wednesday, May 11th. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $93.67.

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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