DoD tests AI models that make it easy to switch from vendors like Palantir
Sysco Corp (NYSE:SYY), the $37 billion market cap food distribution giant, saw Executive Vice President Bertrand Greg D report significant transactions in the company's stock, according to a recent SEC filing. On January 2, Bertrand executed sales of 48,027 shares of Sysco common stock at a price of $77 per share, totaling approximately $3.7 million. These sales were made under a Rule 10b5-1 trading plan. According to InvestingPro data, the stock currently trades at $75.43, with analysis indicating it may be undervalued.
Additionally, Bertrand exercised stock options to acquire 43,750 shares at a price of $52.42 per share, amounting to a total value of $2.29 million. Following these transactions, Bertrand's direct ownership in Sysco stands at 56,304.382 shares. InvestingPro analysis reveals that management has been actively buying back shares, while maintaining a strong financial health score of "GOOD." Get access to detailed insider trading patterns and 8 additional exclusive ProTips with an InvestingPro subscription.
In other recent news, Sysco Corp. reported a 4.4% increase in total revenue, reaching $20.5 billion, and a slight rise in adjusted earnings per share to $1.09 in the first quarter of fiscal year 2025. The company's U.S. Foodservice volume grew by 2.7%. Despite a minor decline in gross margins, Sysco remains steadfast in achieving its full-year financial targets. In addition to financial performance, Sysco has been making strategic moves, including the integration of Campbells Prime Meat in the UK and the divestment of its Mexico joint venture. These developments are part of the company's focus on growth markets.
Sysco's outlook for the remainder of fiscal year 2025 is positive, with expectations of continued growth in net sales and adjusted EPS. The company plans to return $2 billion to shareholders through dividends and share repurchases. In other developments, Sysco shareholders recently approved executive compensation and a new stock plan. The company's annual meeting resulted in the re-election of all director nominees and the adoption of the Sysco Corporation (NYSE:SYY) 2025 Employee Stock Purchase Plan. These are among the recent developments that investors may want to consider.
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