Insider Trading Review: SYSCO Corporation (NYSE:SYY)

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SYSCO Corporation (NYSE:SYY) insider has recently participated in insider trading activity. Director, WARD JACKIE M bought 2,100 shares for $101,619 via one transaction Jun 13. Following the transaction, the insider now owns 126,218 shares in total, priced at $6280607.68 as of Thursday. Another notable insider trading was done by the same insider on Jun 10. WARD JACKIE M acquired 4,100 shares at an average price of $48.76 for a total of $199,916. Moreover, Grade Joel T. carried out a sale of 14,777 shares at $48.72 each on Jun 13. The transaction amounted to $719,935. Director HAFNER JOSEPH A JR sold 7,000 shares for $340,130 through one transaction Jun 13. Following this sale, this insider’s stake in the company comprises 63,766 shares, priced at $3172996.16 as of Thursday.

The stock has experienced a total of 27 insider trades in the past three months. These trades include 10 sell activities and 17 buy trades. Furthermore, over the past 12 months, the stock was traded 119 times by insiders. In 45 of these trades, the insider was a seller while an employee of the company was the buyer in just 74 instances.

On April 26, 2016 Sysco Corporation (SYY) named three highly experienced executives to new leadership roles in foodservice operations, effective at the beginning of its new fiscal year on July 3, 2016.

Greg Bertrand has been named senior vice president-U.S. foodservice operations with responsibility for all of Sysco’s U.S. broadline operating companies. Scott Sonnemaker has been named senior vice president-international foodservice operations-Americas with responsibility for Sysco Canada, Bahamas Foodservices, International Food Group and Sysco’s joint ventures with Mayca Distributors in Costa Rica and Pacific Star Foodservice in Mexico. Bill Goetz has been named senior vice president-sales and marketing with responsibility for Sysco’s sales and marketing organizations.

“As we sharpen our focus on helping our customers profitably grow their businesses, we are very fortunate to have three highly capable Sysco leaders ready to take on broader responsibilities in foodservice operations,” said Tom Bené, president and chief operating officer of Sysco. “I’m confident that Greg, Scott and Bill have the experience and expertise to help us accelerate our current business momentum and strengthen our operations in the U.S. and international markets.”

Bertrand, Sonnemaker and Goetz will continue to report to Bené in their new roles.

Bertrand brings more than 25 years of Sysco experience to his new role, including a succession of senior foodservice operations positions such as president-Sysco Eastern Wisconsin, president-Sysco Chicago, market vice president-Midwest and, most recently, senior vice president-foodservice operations-West.

Sonnemaker also brings a wealth of Sysco experience to his new position with more than 20 years of service in a variety of sales, marketing and foodservice operations roles. Sonnemaker has served as president and chief executive officer-Sysco Portland, senior vice president-foodservice operations-West region and, most recently, senior vice president-sales and chief customer officer.

Goetz, who joined Sysco in 2012 as senior vice president and chief marketing officer,  is also a highly experienced business-to-business marketer and sales leader. He previously served as vice president, corporate marketing, and vice president, international marketing, at ECOLAB Corporation; and vice president and chief marketing officer, and president and chief operations officer, global accounts and strategic markets, at Cintas Corporation, a position he held until joining Sysco.

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