Equities research analysts forecast that SYSCO Co. (NYSE:SYY) will report earnings of $0.97 per share for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for SYSCO’s earnings, with the highest EPS estimate coming in at $0.99 and the lowest estimate coming in at $0.95. SYSCO posted earnings of $0.91 per share during the same quarter last year, which suggests a positive year over year growth rate of 6.6%. The company is expected to report its next quarterly earnings results on Monday, November 4th.
According to Zacks, analysts expect that SYSCO will report full-year earnings of $3.81 per share for the current fiscal year, with EPS estimates ranging from $3.75 to $3.85. For the next financial year, analysts expect that the business will report earnings of $4.16 per share, with EPS estimates ranging from $4.07 to $4.25. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side analysts that that provide coverage for SYSCO.
SYSCO (NYSE:SYY) last announced its earnings results on Monday, August 12th. The company reported $1.10 EPS for the quarter, topping the consensus estimate of $1.07 by $0.03. SYSCO had a net margin of 2.79% and a return on equity of 76.80%. The company had revenue of $15.47 billion during the quarter, compared to analysts’ expectations of $15.65 billion. During the same period last year, the company posted $0.94 earnings per share. The business’s revenue for the quarter was up 1.0% on a year-over-year basis.
Several research analysts have commented on SYY shares. Zacks Investment Research cut shares of SYSCO from a “buy” rating to a “hold” rating and set a $75.00 target price for the company. in a report on Tuesday, June 11th. Credit Suisse Group raised their target price on shares of SYSCO from $76.00 to $79.00 and gave the stock an “outperform” rating in a report on Tuesday, August 13th. Barclays raised their target price on shares of SYSCO from $70.00 to $71.00 and gave the stock an “equal weight” rating in a report on Tuesday, August 13th. ValuEngine upgraded shares of SYSCO from a “hold” rating to a “buy” rating in a report on Wednesday, May 29th. Finally, Consumer Edge started coverage on shares of SYSCO in a report on Wednesday, July 17th. They issued an “underweight” rating and a $71.75 target price for the company. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $73.60.
Shares of SYY traded up $0.48 during midday trading on Wednesday, hitting $78.86. The stock had a trading volume of 2,733,504 shares, compared to its average volume of 2,783,957. SYSCO has a fifty-two week low of $59.44 and a fifty-two week high of $79.14. The business has a 50-day simple moving average of $73.33 and a two-hundred day simple moving average of $71.01. The firm has a market cap of $40.17 billion, a P/E ratio of 22.21, a price-to-earnings-growth ratio of 2.17 and a beta of 0.47. The company has a current ratio of 1.33, a quick ratio of 0.81 and a debt-to-equity ratio of 3.25.
The business also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Friday, October 4th will be given a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a dividend yield of 1.98%. The ex-dividend date is Thursday, October 3rd. SYSCO’s dividend payout ratio (DPR) is 43.94%.
In other news, Director John M. Cassaday sold 20,203 shares of the stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $77.23, for a total value of $1,560,277.69. Following the completion of the sale, the director now directly owns 52,785 shares of the company’s stock, valued at $4,076,585.55. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Hans-Joachim Koerber sold 10,000 shares of the stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $73.35, for a total transaction of $733,500.00. Following the completion of the sale, the director now directly owns 52,872 shares of the company’s stock, valued at $3,878,161.20. The disclosure for this sale can be found here. 7.88% of the stock is owned by corporate insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of SYY. Krane Funds Advisors LLC bought a new position in SYSCO during the second quarter valued at approximately $25,000. SRS Capital Advisors Inc. bought a new position in SYSCO during the second quarter valued at approximately $28,000. Coastal Capital Group Inc. bought a new position in SYSCO during the second quarter valued at approximately $29,000. Neo Ivy Capital Management bought a new position in SYSCO during the second quarter valued at approximately $32,000. Finally, FinTrust Capital Advisors LLC raised its position in SYSCO by 55.2% during the second quarter. FinTrust Capital Advisors LLC now owns 523 shares of the company’s stock valued at $37,000 after acquiring an additional 186 shares in the last quarter. 78.15% of the stock is owned by institutional investors and hedge funds.
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. It operates through three segments: U.S. Foodservice Operations, International Foodservice Operations, and SYGMA. The company distributes a line of frozen foods, such as meats, seafood, fully prepared entrees, fruits, vegetables, and desserts; a line of canned and dry foods; fresh meats and seafood; dairy products; beverage products; imported specialties; and fresh produce.
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