Wall Street analysts expect SYSCO Co. (NYSE:SYY) to post sales of $15.46 billion for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for SYSCO’s earnings. The lowest sales estimate is $15.41 billion and the highest is $15.50 billion. SYSCO reported sales of $14.65 billion in the same quarter last year, which would suggest a positive year over year growth rate of 5.5%. The company is scheduled to issue its next quarterly earnings report on Monday, November 5th.
On average, analysts expect that SYSCO will report full year sales of $61.26 billion for the current year, with estimates ranging from $61.08 billion to $61.41 billion. For the next financial year, analysts anticipate that the business will report sales of $63.88 billion per share, with estimates ranging from $63.70 billion to $64.02 billion. Zacks’ sales calculations are an average based on a survey of research analysts that that provide coverage for SYSCO.
SYSCO (NYSE:SYY) last announced its quarterly earnings data on Monday, August 13th. The company reported $0.94 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.93 by $0.01. SYSCO had a return on equity of 68.15% and a net margin of 2.44%. The company had revenue of $15.32 billion during the quarter, compared to analysts’ expectations of $15.30 billion. During the same quarter last year, the company earned $0.72 EPS. SYSCO’s revenue for the quarter was up 6.2% compared to the same quarter last year.
A number of research firms recently commented on SYY. ValuEngine upgraded SYSCO from a “hold” rating to a “buy” rating in a report on Monday, August 13th. BMO Capital Markets lifted their price target on SYSCO from $74.00 to $81.00 and gave the stock an “outperform” rating in a report on Tuesday, August 14th. Citigroup lifted their price target on SYSCO from $67.00 to $69.00 and gave the stock a “neutral” rating in a report on Tuesday, June 19th. Morgan Stanley lifted their price target on SYSCO from $61.00 to $67.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 17th. Finally, Pivotal Research lifted their price target on SYSCO from $58.00 to $62.00 and gave the stock a “sell” rating in a report on Saturday, August 18th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $72.42.
In other news, Director Trian Fund Management, L.P. sold 2,115,358 shares of the business’s stock in a transaction that occurred on Wednesday, September 12th. The stock was sold at an average price of $74.81, for a total transaction of $158,249,931.98. Following the completion of the sale, the director now owns 4,005 shares in the company, valued at $299,614.05. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Richard G. Tilghman sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, July 16th. The stock was sold at an average price of $70.61, for a total value of $353,050.00. Following the sale, the director now owns 71,137 shares of the company’s stock, valued at approximately $5,022,983.57. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 3,982,249 shares of company stock valued at $298,203,555. Corporate insiders own 9.60% of the company’s stock.
Several large investors have recently modified their holdings of SYY. Bank of America Corp DE boosted its holdings in shares of SYSCO by 64.6% during the second quarter. Bank of America Corp DE now owns 17,662,742 shares of the company’s stock worth $1,206,188,000 after acquiring an additional 6,929,805 shares during the period. Morgan Stanley raised its position in shares of SYSCO by 83.0% in the second quarter. Morgan Stanley now owns 3,896,733 shares of the company’s stock valued at $266,109,000 after buying an additional 1,767,298 shares in the last quarter. Point72 Asset Management L.P. acquired a new stake in shares of SYSCO in the first quarter valued at approximately $50,934,000. Unigestion Holding SA acquired a new stake in shares of SYSCO in the second quarter valued at approximately $55,998,000. Finally, Allen Investment Management LLC raised its position in shares of SYSCO by 166.6% in the first quarter. Allen Investment Management LLC now owns 1,032,414 shares of the company’s stock valued at $61,904,000 after buying an additional 645,151 shares in the last quarter. Institutional investors own 80.19% of the company’s stock.
SYSCO stock traded down $0.89 during midday trading on Thursday, reaching $73.60. 3,662,800 shares of the company’s stock were exchanged, compared to its average volume of 2,737,468. SYSCO has a 52 week low of $52.18 and a 52 week high of $75.98. The company has a debt-to-equity ratio of 3.01, a quick ratio of 0.74 and a current ratio of 1.21. The stock has a market capitalization of $38.96 billion, a P/E ratio of 23.44, a PEG ratio of 2.03 and a beta of 0.54.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 26th. Stockholders of record on Friday, October 5th 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 1.96%. The ex-dividend date of this dividend is Thursday, October 4th. SYSCO’s dividend payout ratio is presently 45.86%.
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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