Analysts forecast that SYSCO Co. (NYSE:SYY) will announce $14.40 billion in sales for the current quarter, according to Zacks Investment Research. Three analysts have provided estimates for SYSCO’s earnings, with the lowest sales estimate coming in at $14.30 billion and the highest estimate coming in at $14.52 billion. SYSCO posted sales of $13.52 billion in the same quarter last year, which would indicate a positive year over year growth rate of 6.5%. The firm is expected to issue its next earnings results on Monday, May 14th.
On average, analysts expect that SYSCO will report full-year sales of $14.40 billion for the current financial year, with estimates ranging from $58.60 billion to $58.92 billion. For the next financial year, analysts anticipate that the business will post sales of $61.42 billion per share, with estimates ranging from $61.33 billion to $61.57 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that that provide coverage for SYSCO.
SYSCO (NYSE:SYY) last posted its earnings results on Monday, February 5th. The company reported $0.66 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.65 by $0.01. The firm had revenue of $14.41 billion during the quarter, compared to analysts’ expectations of $14.15 billion. SYSCO had a net margin of 2.10% and a return on equity of 61.02%. The company’s revenue was up 7.1% compared to the same quarter last year. During the same period in the previous year, the company earned $0.58 earnings per share.
A number of research firms have issued reports on SYY. Zacks Investment Research cut shares of SYSCO from a “buy” rating to a “hold” rating in a research note on Wednesday, March 14th. Bank of America lifted their target price on shares of SYSCO from $68.00 to $70.00 and gave the company a “buy” rating in a research note on Tuesday, February 6th. Loop Capital reduced their target price on shares of SYSCO from $72.00 to $70.00 and set a “buy” rating for the company in a research note on Tuesday, February 6th. Pivotal Research reduced their target price on shares of SYSCO from $68.00 to $61.00 and set a “buy” rating for the company in a research note on Tuesday, February 6th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $61.00 target price on shares of SYSCO in a research note on Tuesday, February 6th. Seven research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $65.20.
SYY stock traded down $0.13 during midday trading on Friday, reaching $60.30. 4,318,975 shares of the company’s stock were exchanged, compared to its average volume of 2,697,238. The company has a debt-to-equity ratio of 3.66, a current ratio of 1.38 and a quick ratio of 0.85. The firm has a market capitalization of $31,409.07, a PE ratio of 26.92, a PEG ratio of 2.02 and a beta of 0.60. SYSCO has a 1 year low of $48.85 and a 1 year high of $64.27.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 27th. Stockholders of record on Friday, April 6th will be paid a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 2.39%. The ex-dividend date of this dividend is Thursday, April 5th. SYSCO’s payout ratio is 64.29%.
In other news, SVP Greg D. Bertrand sold 81,038 shares of the business’s stock in a transaction on Wednesday, January 10th. The shares were sold at an average price of $60.76, for a total value of $4,923,868.88. Following the completion of the sale, the senior vice president now directly owns 69,721 shares in the company, valued at $4,236,247.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Richard G. Tilghman sold 5,000 shares of the business’s stock in a transaction on Thursday, March 15th. The stock was sold at an average price of $59.80, for a total transaction of $299,000.00. Following the completion of the sale, the director now owns 90,552 shares of the company’s stock, valued at $5,415,009.60. The disclosure for this sale can be found here. Insiders sold 164,704 shares of company stock valued at $10,012,748 over the last 90 days. 9.60% of the stock is owned by corporate insiders.
Institutional investors have recently modified their holdings of the company. Vident Investment Advisory LLC acquired a new position in SYSCO during the 3rd quarter valued at $393,000. Chicago Partners Investment Group LLC raised its stake in SYSCO by 637.5% during the 3rd quarter. Chicago Partners Investment Group LLC now owns 5,900 shares of the company’s stock valued at $318,000 after purchasing an additional 5,100 shares during the last quarter. California Public Employees Retirement System raised its stake in SYSCO by 5.7% during the 3rd quarter. California Public Employees Retirement System now owns 1,348,829 shares of the company’s stock valued at $72,769,000 after purchasing an additional 72,800 shares during the last quarter. CAPROCK Group Inc. acquired a new position in SYSCO during the 4th quarter valued at $611,000. Finally, Deutsche Bank AG raised its stake in SYSCO by 1.7% during the 4th quarter. Deutsche Bank AG now owns 2,691,367 shares of the company’s stock valued at $163,438,000 after purchasing an additional 45,042 shares during the last quarter. Institutional investors and hedge funds own 79.02% of the company’s stock.
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SYSCO Company Profile
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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