Zacks: Analysts Expect Sysco (SYY) Will Announce Quarterly Sales of $14.39 Billion

Equities research analysts expect Sysco (NYSE:SYY) to post $14.39 billion in sales for the current fiscal quarter, Zacks reports. Three analysts have issued estimates for Sysco’s earnings. The highest sales estimate is $14.52 billion and the lowest is $14.24 billion. Sysco reported sales of $13.52 billion in the same quarter last year, which indicates a positive year over year growth rate of 6.4%. The company is scheduled to announce its next earnings results on Monday, May 14th.

According to Zacks, analysts expect that Sysco will report full year sales of $14.39 billion for the current financial year, with estimates ranging from $58.63 billion to $58.92 billion. For the next fiscal year, analysts expect that the business will report sales of $61.47 billion per share, with estimates ranging from $61.33 billion to $61.59 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side analysts that cover Sysco.

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Sysco (NYSE:SYY) last announced its earnings results on Monday, February 5th. The company reported $0.66 earnings per share for the quarter, beating 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 return on equity of 61.02% and a net margin of 2.10%. The firm’s revenue for the quarter was up 7.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.58 EPS.

A number of analysts have recently commented on SYY shares. Pivotal Research boosted their price objective on Sysco from $53.00 to $60.00 and gave the stock a “buy” rating in a research note on Tuesday, December 12th. Loop Capital boosted their price objective on Sysco to $68.00 and gave the stock a “buy” rating in a research note on Monday, December 11th. Bank of America boosted their price objective on Sysco from $68.00 to $70.00 and gave the stock a “buy” rating in a research note on Tuesday, February 6th. BMO Capital Markets set a $74.00 price objective on Sysco and gave the stock a “buy” rating in a research note on Monday, February 5th. Finally, Morgan Stanley raised Sysco from an “underweight” rating to an “equal weight” rating and set a $64.00 price objective on the stock in a research note on Tuesday, January 16th. Eight research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $65.00.

In other news, SVP Greg D. Bertrand sold 81,038 shares of the business’s stock in a transaction on Wednesday, January 10th. The stock was sold at an average price of $60.76, for a total transaction of $4,923,868.88. Following the sale, the senior vice president now directly owns 69,721 shares of the company’s stock, valued at $4,236,247.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP William W. Goetz sold 11,323 shares of the business’s stock in a transaction on Tuesday, January 16th. The stock was sold at an average price of $62.00, for a total value of $702,026.00. Following the sale, the senior vice president now directly owns 35,825 shares in the company, valued at $2,221,150. The disclosure for this sale can be found here. Insiders have sold 151,370 shares of company stock worth $9,203,507 over the last ninety days. 9.60% of the stock is owned by insiders.

Several institutional investors have recently made changes to their positions in the company. Parnassus Investments CA raised its position in shares of Sysco by 1.8% during the fourth quarter. Parnassus Investments CA now owns 7,547,366 shares of the company’s stock worth $458,352,000 after purchasing an additional 136,965 shares during the period. American Century Companies Inc. raised its position in shares of Sysco by 7.5% during the fourth quarter. American Century Companies Inc. now owns 6,578,176 shares of the company’s stock worth $399,493,000 after purchasing an additional 457,259 shares during the period. Janus Henderson Group PLC raised its position in shares of Sysco by 4.6% during the third quarter. Janus Henderson Group PLC now owns 5,969,351 shares of the company’s stock worth $322,047,000 after purchasing an additional 261,748 shares during the period. Geode Capital Management LLC raised its position in shares of Sysco by 0.5% during the fourth quarter. Geode Capital Management LLC now owns 4,569,679 shares of the company’s stock worth $276,861,000 after purchasing an additional 24,517 shares during the period. Finally, Victory Capital Management Inc. raised its position in shares of Sysco by 8.0% during the fourth quarter. Victory Capital Management Inc. now owns 3,735,842 shares of the company’s stock worth $226,879,000 after purchasing an additional 277,097 shares during the period. 79.03% of the stock is currently owned by institutional investors.

Sysco stock traded up $0.13 during mid-day trading on Wednesday, hitting $59.85. 2,560,234 shares of the company’s stock traded hands, compared to its average volume of 2,869,763. Sysco has a one year low of $48.85 and a one year high of $64.27. 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 company has a market capitalization of $31,168.99, a P/E ratio of 24.13, a PEG ratio of 2.02 and a beta of 0.55.

The business also recently announced a quarterly dividend, which will be paid on Friday, April 27th. Stockholders of record on Friday, April 6th will be given a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 2.41%. The ex-dividend date is Thursday, April 5th. Sysco’s dividend payout ratio (DPR) is presently 58.06%.

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About Sysco

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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