Analysts predict that SYSCO Co. (NYSE:SYY) will announce $15.45 billion in sales for the current quarter, according to Zacks. Two analysts have provided estimates for SYSCO’s earnings. The lowest sales estimate is $15.35 billion and the highest is $15.55 billion. SYSCO reported sales of $14.42 billion during the same quarter last year, which would suggest a positive year-over-year growth rate of 7.1%. The firm is scheduled to report its next quarterly earnings results on Monday, August 13th.
According to Zacks, analysts expect that SYSCO will report full year sales of $58.84 billion for the current year, with estimates ranging from $58.77 billion to $58.96 billion. For the next year, analysts forecast that the company will post sales of $61.46 billion per share, with estimates ranging from $60.94 billion to $62.05 billion. Zacks’ sales calculations are an average based on a survey of research analysts that follow SYSCO.
SYSCO (NYSE:SYY) last announced its quarterly earnings data on Monday, May 7th. The company reported $0.67 EPS for the quarter, beating analysts’ consensus estimates of $0.63 by $0.04. SYSCO had a return on equity of 64.33% and a net margin of 2.23%. The company had revenue of $14.35 billion during the quarter, compared to the consensus estimate of $14.32 billion. During the same quarter in the prior year, the firm earned $0.51 EPS. The company’s quarterly revenue was up 6.1% compared to the same quarter last year.
A number of equities research analysts have recently commented on SYY shares. Pivotal Research cut their price objective on SYSCO from $61.00 to $56.00 and set a “buy” rating for the company in a research report on Wednesday, May 2nd. ValuEngine upgraded SYSCO from a “hold” rating to a “buy” rating in a research report on Tuesday. Zacks Investment Research downgraded SYSCO from a “hold” rating to a “sell” rating in a research report on Thursday, April 12th. Morgan Stanley reiterated a “hold” rating and set a $61.00 price objective (down previously from $64.00) on shares of SYSCO in a research report on Tuesday, May 8th. Finally, Credit Suisse Group set a $68.00 target price on SYSCO and gave the company a “hold” rating in a report on Saturday, May 5th. Six investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. SYSCO has an average rating of “Buy” and an average target price of $67.10.
In other news, Director Trian Fund Management, L.P. sold 2,278,939 shares of the stock in a transaction on Thursday, June 14th. The stock was sold at an average price of $66.14, for a total value of $150,729,025.46. Following the completion of the sale, the director now owns 4,657 shares in the company, valued at $308,013.98. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Joshua D. Frank sold 802,924 shares of the company’s stock in a transaction on Tuesday, June 12th. The stock was sold at an average price of $66.15, for a total transaction of $53,113,422.60. Following the completion of the transaction, the director now directly owns 4,657 shares in the company, valued at $308,060.55. The disclosure for this sale can be found here. Insiders sold 3,153,196 shares of company stock valued at $208,353,443 in the last 90 days. Corporate insiders own 9.60% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Private Capital Group LLC increased its stake in shares of SYSCO by 970.2% in the first quarter. Private Capital Group LLC now owns 2,044 shares of the company’s stock worth $123,000 after acquiring an additional 1,853 shares during the last quarter. Centaurus Financial Inc. acquired a new position in shares of SYSCO in the first quarter worth $129,000. Bedel Financial Consulting Inc. acquired a new position in shares of SYSCO in the first quarter worth $145,000. Centerpoint Advisors LLC acquired a new position in shares of SYSCO in the first quarter worth $149,000. Finally, Rainier Group Investment Advisory LLC acquired a new position in shares of SYSCO in the first quarter worth $156,000. 79.87% of the stock is currently owned by institutional investors and hedge funds.
Shares of NYSE:SYY opened at $68.35 on Friday. SYSCO has a one year low of $48.85 and a one year high of $68.87. The firm has a market cap of $35.54 billion, a PE ratio of 27.56, a P/E/G ratio of 2.19 and a beta of 0.57. The company has a debt-to-equity ratio of 3.76, a current ratio of 1.44 and a quick ratio of 0.90.
The firm also recently announced a quarterly dividend, which will be paid on Friday, July 27th. Stockholders of record on Friday, July 6th will be issued a $0.36 dividend. The ex-dividend date is Thursday, July 5th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 2.11%. SYSCO’s payout ratio is currently 58.06%.
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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