Equities analysts expect SYSCO Co. (NYSE:SYY) to announce sales of $14.88 billion for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for SYSCO’s earnings, with the highest sales estimate coming in at $14.97 billion and the lowest estimate coming in at $14.79 billion. SYSCO reported sales of $14.35 billion during the same quarter last year, which suggests a positive year over year growth rate of 3.7%. The company is expected to issue its next earnings results on Monday, May 6th.
According to Zacks, analysts expect that SYSCO will report full-year sales of $60.58 billion for the current financial year, with estimates ranging from $60.38 billion to $60.75 billion. For the next financial year, analysts anticipate that the business will post sales of $63.13 billion, with estimates ranging from $62.80 billion to $63.31 billion. Zacks’ sales calculations are an average based on a survey of research firms that follow SYSCO.
SYSCO (NYSE:SYY) last issued its quarterly earnings data on Monday, February 4th. The company reported $0.75 EPS for the quarter, topping the consensus estimate of $0.72 by $0.03. The firm had revenue of $14.80 billion during the quarter, compared to the consensus estimate of $14.75 billion. SYSCO had a return on equity of 71.45% and a net margin of 2.48%. The company’s quarterly revenue was up 2.8% compared to the same quarter last year. During the same period in the prior year, the business posted $0.78 earnings per share.
Several equities analysts have recently issued reports on the company. Zacks Investment Research raised SYSCO from a “sell” rating to a “hold” rating in a report on Thursday, November 22nd. Loop Capital set a $75.00 target price on SYSCO and gave the company a “buy” rating in a report on Tuesday, February 5th. ValuEngine lowered SYSCO from a “buy” rating to a “hold” rating in a report on Tuesday, November 6th. Finally, Pivotal Research reaffirmed a “sell” rating and issued a $54.00 target price on shares of SYSCO in a report on Friday, February 1st. One research analyst has rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $72.92.
In other SYSCO news, Director Trian Fund Management, L.P. sold 2,215,532 shares of the stock in a transaction on Tuesday, November 20th. The stock was sold at an average price of $66.45, for a total transaction of $147,222,101.40. Following the completion of the transaction, the director now directly owns 7,055 shares of the company’s stock, valued at $468,804.75. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Richard G. Tilghman sold 5,000 shares of the stock in a transaction on Thursday, November 15th. The shares were sold at an average price of $66.17, for a total value of $330,850.00. Following the transaction, the director now directly owns 7,055 shares of the company’s stock, valued at $466,829.35. The disclosure for this sale can be found here. Over the last three months, insiders have sold 3,827,484 shares of company stock valued at $254,213,821. 7.88% of the stock is owned by corporate insiders.
Institutional investors have recently bought and sold shares of the company. Athena Capital Advisors LLC bought a new position in shares of SYSCO in the fourth quarter worth $29,000. Focused Wealth Management Inc boosted its holdings in shares of SYSCO by 244.1% in the fourth quarter. Focused Wealth Management Inc now owns 468 shares of the company’s stock worth $29,000 after acquiring an additional 332 shares during the period. Prime Capital Investment Advisors LLC bought a new position in shares of SYSCO in the fourth quarter worth $41,000. Financial Gravity Companies Inc. bought a new position in shares of SYSCO in the fourth quarter worth $51,000. Finally, We Are One Seven LLC bought a new position in shares of SYSCO in the fourth quarter worth $50,000. 80.93% of the stock is owned by hedge funds and other institutional investors.
Shares of SYSCO stock traded up $0.09 on Monday, hitting $66.29. The company had a trading volume of 2,929,505 shares, compared to its average volume of 3,844,918. The company has a market cap of $33.99 billion, a PE ratio of 21.11, a price-to-earnings-growth ratio of 1.89 and a beta of 0.53. SYSCO has a 1 year low of $57.92 and a 1 year high of $75.98. The company has a quick ratio of 0.76, a current ratio of 1.25 and a debt-to-equity ratio of 3.70.
The company also recently disclosed a quarterly dividend, which was paid on Friday, January 25th. Shareholders of record on Friday, January 4th were issued a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a yield of 2.35%. This is a positive change from SYSCO’s previous quarterly dividend of $0.36. The ex-dividend date of this dividend was Thursday, January 3rd. SYSCO’s dividend payout ratio is 49.68%.
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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