Sysco Corporation (NYSE:SYY) – Jefferies Group lowered their Q3 2018 EPS estimates for shares of Sysco in a research note issued on Thursday. Jefferies Group analyst C. Mandeville now expects that the company will earn $0.56 per share for the quarter, down from their prior estimate of $0.58. Jefferies Group also issued estimates for Sysco’s Q1 2019 earnings at $0.79 EPS, Q3 2019 earnings at $0.64 EPS, Q4 2019 earnings at $0.89 EPS and FY2019 earnings at $3.02 EPS.
A number of other analysts have also issued reports on SYY. BMO Capital Markets set a $66.00 price objective on Sysco and gave the company a “buy” rating in a research note on Friday. Pivotal Research reiterated a “hold” rating and set a $53.00 price objective on shares of Sysco in a research note on Sunday, November 5th. Zacks Investment Research lowered Sysco from a “buy” rating to a “hold” rating in a research note on Thursday, November 9th. Finally, Wells Fargo & Company reiterated a “buy” rating on shares of Sysco in a research note on Monday, August 14th. Eight investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Sysco has a consensus rating of “Hold” and an average price target of $57.27.
Shares of Sysco (NYSE:SYY) opened at $62.64 on Monday. The stock has a market capitalization of $32,638.95, a price-to-earnings ratio of 24.56, a price-to-earnings-growth ratio of 2.80 and a beta of 0.54. The company has a debt-to-equity ratio of 3.77, a current ratio of 1.40 and a quick ratio of 0.88. Sysco has a one year low of $48.85 and a one year high of $62.79.
Sysco (NYSE:SYY) last issued its earnings results on Monday, November 6th. The company reported $0.74 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.72 by $0.02. The firm had revenue of $14.65 billion for the quarter, compared to analyst estimates of $14.43 billion. Sysco had a return on equity of 58.47% and a net margin of 2.12%. The business’s revenue was up 4.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.67 earnings per share.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. First Personal Financial Services boosted its holdings in shares of Sysco by 293.2% in the 3rd quarter. First Personal Financial Services now owns 1,962 shares of the company’s stock worth $106,000 after purchasing an additional 1,463 shares in the last quarter. Arcadia Investment Management Corp MI boosted its holdings in shares of Sysco by 10.7% in the 2nd quarter. Arcadia Investment Management Corp MI now owns 2,336 shares of the company’s stock worth $118,000 after purchasing an additional 225 shares in the last quarter. Acrospire Investment Management LLC boosted its holdings in shares of Sysco by 84.6% in the 2nd quarter. Acrospire Investment Management LLC now owns 2,400 shares of the company’s stock worth $121,000 after purchasing an additional 1,100 shares in the last quarter. Manchester Capital Management LLC boosted its holdings in shares of Sysco by 13.4% in the 2nd quarter. Manchester Capital Management LLC now owns 2,538 shares of the company’s stock worth $128,000 after purchasing an additional 300 shares in the last quarter. Finally, Advisors Asset Management Inc. boosted its holdings in shares of Sysco by 465.7% in the 3rd quarter. Advisors Asset Management Inc. now owns 2,783 shares of the company’s stock worth $150,000 after purchasing an additional 2,291 shares in the last quarter. Institutional investors and hedge funds own 80.22% of the company’s stock.
In other Sysco news, Director Trian Fund Management, L.P. bought 889,561 shares of the firm’s stock in a transaction on Tuesday, September 19th. The shares were acquired at an average cost of $53.68 per share, for a total transaction of $47,751,634.48. Following the purchase, the director now directly owns 5,529 shares of the company’s stock, valued at $296,796.72. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO William J. Delaney III sold 30,000 shares of the company’s stock in a transaction dated Wednesday, September 13th. The stock was sold at an average price of $53.16, for a total value of $1,594,800.00. Following the completion of the transaction, the chief executive officer now owns 406,725 shares in the company, valued at $21,621,501. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 2,237,981 shares of company stock worth $120,454,412. 9.60% of the stock is currently owned by corporate insiders.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 26th. Investors of record on Friday, January 5th will be paid a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 2.30%. This is a positive change from Sysco’s previous quarterly dividend of $0.33. The ex-dividend date is Thursday, January 4th. Sysco’s payout ratio is presently 60.00%.
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Sysco Corporation (Sysco) is a distributor of food and related products primarily to the foodservice or food-away-from-home industry. The Company’s segments include Broadline, SYGMA and Other. The Broadline segment includes its Broadline operations located in the Bahamas, Canada, Costa Rica, Ireland, Mexico and the United States.
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