Analysts predict that Sysco (NYSE:SYY) will report earnings of $0.65 per share for the current fiscal quarter, Zacks reports. Three analysts have made estimates for Sysco’s earnings, with estimates ranging from $0.61 to $0.68. Sysco posted earnings per share of $0.51 during the same quarter last year, which indicates a positive year-over-year growth rate of 27.5%. The company is expected to issue its next quarterly earnings report before the market opens on Monday, May 7th.
According to Zacks, analysts expect that Sysco will report full year earnings of $2.93 per share for the current year, with EPS estimates ranging from $2.85 to $3.02. For the next financial year, analysts forecast that the firm will post earnings of $3.53 per share, with EPS estimates ranging from $3.45 to $3.65. Zacks’ EPS calculations are an average based on a survey of research firms that that provide coverage for Sysco.
Sysco (NYSE:SYY) last posted its quarterly earnings results on Monday, February 5th. The company reported $0.66 EPS for the quarter, topping the consensus estimate of $0.65 by $0.01. The firm had revenue of $14.41 billion for the quarter, compared to the consensus estimate of $14.15 billion. Sysco had a net margin of 2.10% and a return on equity of 61.02%. The business’s revenue was up 7.1% compared to the same quarter last year. During the same period last year, the firm posted $0.58 earnings per share.
Several research analysts recently commented on the stock. Loop Capital lifted their target price on shares of Sysco from $68.00 to $72.00 and gave the stock a “buy” rating in a research note on Wednesday, January 31st. Credit Suisse Group began coverage on shares of Sysco in a research report on Tuesday. They set an “outperform” rating and a $68.00 price objective on the stock. Morgan Stanley raised shares of Sysco from an “underweight” rating to an “equal weight” rating and set a $64.00 price objective on the stock in a research report on Tuesday, January 16th. Zacks Investment Research raised shares of Sysco from a “hold” rating to a “strong-buy” rating and set a $71.00 price objective on the stock in a research report on Wednesday, January 10th. Finally, Citigroup boosted their price objective on shares of Sysco from $60.00 to $63.00 and gave the company a “neutral” rating in a research report on Tuesday, March 27th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the company. Sysco has a consensus rating of “Hold” and an average target price of $65.25.
Shares of NYSE SYY traded down $0.30 during mid-day trading on Thursday, hitting $61.55. The stock had a trading volume of 591,839 shares, compared to its average volume of 2,807,621. The company has a quick ratio of 0.85, a current ratio of 1.38 and a debt-to-equity ratio of 3.66. Sysco has a 1 year low of $48.85 and a 1 year high of $64.27. The company has a market cap of $32,619.92, a price-to-earnings ratio of 24.82, a PEG ratio of 2.11 and a beta of 0.55.
The firm also recently announced a quarterly dividend, which will be paid on Friday, April 27th. Stockholders of record on Friday, April 6th will be issued a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 2.34%. The ex-dividend date is Thursday, April 5th. Sysco’s dividend payout ratio (DPR) is presently 58.06%.
In related news, Director Richard G. Tilghman sold 5,000 shares of the company’s stock in a transaction dated Monday, April 16th. The shares were sold at an average price of $60.62, for a total value of $303,100.00. Following the transaction, the director now owns 85,864 shares in the company, valued at approximately $5,205,075.68. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Wayne Shurts sold 7,800 shares of the company’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $58.98, for a total transaction of $460,044.00. Following the completion of the transaction, the executive vice president now owns 55,235 shares in the company, valued at approximately $3,257,760.30. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 48,409 shares of company stock worth $2,922,248. Company insiders own 9.60% of the company’s stock.
A number of institutional investors have recently made changes to their positions in the stock. Summit X LLC boosted its stake in Sysco by 9.5% in the 4th quarter. Summit X LLC now owns 9,077 shares of the company’s stock worth $551,000 after purchasing an additional 790 shares in the last quarter. Fiduciary Trust Co. boosted its stake in Sysco by 1.3% in the 4th quarter. Fiduciary Trust Co. now owns 62,376 shares of the company’s stock worth $3,788,000 after purchasing an additional 824 shares in the last quarter. Redmond Asset Management LLC boosted its stake in Sysco by 13.8% in the 4th quarter. Redmond Asset Management LLC now owns 7,123 shares of the company’s stock worth $433,000 after purchasing an additional 863 shares in the last quarter. Benjamin F. Edwards & Company Inc. boosted its stake in Sysco by 7.6% in the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 12,315 shares of the company’s stock worth $748,000 after purchasing an additional 866 shares in the last quarter. Finally, Cognios Capital LLC boosted its stake in Sysco by 2.3% in the 4th quarter. Cognios Capital LLC now owns 38,935 shares of the company’s stock worth $2,362,000 after purchasing an additional 867 shares in the last quarter. Institutional investors own 79.02% of the company’s stock.
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Sysco Company Profile
Sysco Corporation, through its subsidiaries, markets and distributes a range of food and related products primarily to the foodservice or food-away-from-home industry in the United States, Canada, Bahamas, Mexico, Costa Rica, Panama, the United Kingdom, France, Sweden, Ireland, Belgium, Spain, and Luxembourg.
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