Insider Selling: Sysco Corporation (NYSE:SYY) EVP Sells 40,000 Shares of Stock

Sysco Corporation (NYSE:SYY - Get Free Report) EVP Greg D. Bertrand sold 40,000 shares of the company's stock in a transaction on Tuesday, July 22nd. The stock was sold at an average price of $80.00, for a total transaction of $3,200,000.00. Following the sale, the executive vice president directly owned 56,304 shares in the company, valued at $4,504,320. This trade represents a 41.54% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link.

Sysco Stock Performance

Shares of Sysco stock traded up $0.06 during trading on Monday, reaching $80.36. The company's stock had a trading volume of 4,450,648 shares, compared to its average volume of 2,545,264. The company has a quick ratio of 0.76, a current ratio of 1.26 and a debt-to-equity ratio of 6.37. The business's 50-day moving average price is $75.55 and its 200-day moving average price is $73.51. Sysco Corporation has a 52 week low of $67.12 and a 52 week high of $82.23. The firm has a market cap of $38.95 billion, a PE ratio of 20.82, a P/E/G ratio of 2.37 and a beta of 0.81.

Sysco (NYSE:SYY - Get Free Report) last issued its quarterly earnings data on Tuesday, April 29th. The company reported $0.96 earnings per share for the quarter, missing the consensus estimate of $1.02 by ($0.06). Sysco had a return on equity of 107.96% and a net margin of 2.36%. The business had revenue of $19.60 billion during the quarter, compared to analyst estimates of $20.11 billion. During the same quarter last year, the firm earned $0.96 EPS. Sysco's revenue for the quarter was up 1.1% compared to the same quarter last year. Equities analysts forecast that Sysco Corporation will post 4.58 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Morgan Stanley lifted their price target on Sysco from $72.00 to $77.00 and gave the stock an "equal weight" rating in a report on Monday, July 14th. UBS Group lifted their target price on Sysco from $83.00 to $91.00 and gave the stock a "buy" rating in a research note on Monday. Guggenheim reissued a "buy" rating and set a $82.00 target price on shares of Sysco in a report on Tuesday, July 8th. JPMorgan Chase & Co. raised their price target on Sysco from $82.00 to $85.00 and gave the company an "overweight" rating in a report on Tuesday, May 20th. Finally, BMO Capital Markets decreased their price objective on shares of Sysco from $82.00 to $77.00 and set an "outperform" rating on the stock in a report on Wednesday, April 30th. Five investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $83.85.

Institutional Investors Weigh In On Sysco

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Rialto Wealth Management LLC increased its stake in Sysco by 188.7% during the 1st quarter. Rialto Wealth Management LLC now owns 332 shares of the company's stock worth $25,000 after acquiring an additional 217 shares during the period. Parvin Asset Management LLC bought a new position in shares of Sysco in the fourth quarter worth $29,000. Chung Wu Investment Group LLC bought a new position in shares of Sysco in the second quarter worth $30,000. Golden State Wealth Management LLC raised its stake in Sysco by 48.4% in the first quarter. Golden State Wealth Management LLC now owns 429 shares of the company's stock valued at $32,000 after purchasing an additional 140 shares in the last quarter. Finally, N.E.W. Advisory Services LLC bought a new stake in Sysco during the first quarter worth about $33,000. 83.41% of the stock is currently owned by institutional investors and hedge funds.

Sysco Company Profile

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.