Equities analysts forecast that Sysco (NYSE:SYY) will announce earnings of $0.65 per share for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for Sysco’s earnings, with estimates ranging from $0.61 to $0.68. Sysco reported earnings of $0.51 per share in the same quarter last year, which would suggest a positive year-over-year growth rate of 27.5%. The firm is expected to report its next quarterly earnings report before the market opens on Monday, May 7th.
On average, analysts expect that Sysco will report full-year earnings of $2.93 per share for the current financial year, with EPS estimates ranging from $2.85 to $3.02. For the next fiscal year, analysts anticipate that the company will post earnings of $3.53 per share, with EPS estimates ranging from $3.45 to $3.65. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side research firms 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, 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 return on equity of 61.02% and a net margin of 2.10%. The business’s quarterly revenue was up 7.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.58 earnings per share.
SYY has been the topic of several research analyst reports. Bank of America upped their price target on shares of Sysco from $68.00 to $70.00 and gave the stock a “buy” rating in a report on Tuesday, February 6th. Loop Capital decreased their price target on shares of Sysco from $72.00 to $70.00 and set a “buy” rating on the stock in a report on Tuesday, February 6th. Pivotal Research decreased their price target on shares of Sysco from $68.00 to $61.00 and set a “buy” rating on the stock in a report on Tuesday, February 6th. BMO Capital Markets set a $74.00 price target on shares of Sysco and gave the stock a “buy” rating in a report on Monday, February 5th. Finally, Morgan Stanley raised shares of Sysco from an “underweight” rating to an “equal weight” rating and set a $64.00 price target on the stock in a report on Tuesday, January 16th. One analyst has rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the stock. Sysco currently has an average rating of “Hold” and an average price target of $65.25.
In related news, insider Wayne Shurts sold 15,275 shares of the stock in a transaction on Tuesday, March 13th. The stock was sold at an average price of $60.85, for a total value of $929,483.75. Following the transaction, the insider now owns 39,635 shares of the company’s stock, valued at $2,411,789.75. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Paul T. Moskowitz sold 30,667 shares of the stock in a transaction on Wednesday, April 18th. The shares were sold at an average price of $62.50, for a total value of $1,916,687.50. Following the completion of the transaction, the insider now directly owns 58,329 shares in the company, valued at approximately $3,645,562.50. The disclosure for this sale can be found here. In the last three months, insiders sold 79,076 shares of company stock worth $4,838,936. 9.60% of the stock is owned by insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in SYY. Miller Howard Investments Inc. NY bought a new position in shares of Sysco during the fourth quarter valued at about $60,798,000. Millennium Management LLC grew its stake in shares of Sysco by 701.8% during the fourth quarter. Millennium Management LLC now owns 1,057,931 shares of the company’s stock valued at $64,248,000 after buying an additional 925,982 shares during the last quarter. Element Capital Management LLC bought a new position in shares of Sysco during the fourth quarter valued at about $45,129,000. Amundi Pioneer Asset Management Inc. bought a new position in shares of Sysco during the fourth quarter valued at about $31,092,000. Finally, American Century Companies Inc. grew its stake 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 valued at $399,493,000 after buying an additional 457,259 shares during the last quarter. 79.29% of the stock is currently owned by institutional investors and hedge funds.
Shares of Sysco stock traded up $0.56 during trading on Thursday, hitting $61.90. The stock had a trading volume of 777,291 shares, compared to its average volume of 2,782,065. The stock has a market cap of $31,915.33, a P/E ratio of 24.88, a PEG ratio of 2.07 and a beta of 0.55. Sysco has a 12 month low of $48.85 and a 12 month high of $64.27. The company has a debt-to-equity ratio of 3.66, a quick ratio of 0.85 and a current ratio of 1.38.
The company also recently announced a quarterly dividend, which will be paid on Friday, April 27th. Investors of record on Friday, April 6th will be paid a $0.36 dividend. The ex-dividend date of this dividend is Thursday, April 5th. This represents a $1.44 dividend on an annualized basis and a yield of 2.33%. Sysco’s dividend payout ratio is presently 58.06%.
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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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