Wall Street analysts forecast that SYSCO Co. (NYSE:SYY) will announce $15.56 billion in sales for the current quarter, according to Zacks. Two analysts have issued estimates for SYSCO’s earnings, with the lowest sales estimate coming in at $15.55 billion and the highest estimate coming in at $15.57 billion. SYSCO reported sales of $15.32 billion during the same quarter last year, which would suggest a positive year over year growth rate of 1.6%. The company is scheduled to announce its next quarterly earnings results before the market opens on Monday, August 12th.
According to Zacks, analysts expect that SYSCO will report full-year sales of $60.22 billion for the current financial year, with estimates ranging from $60.19 billion to $60.27 billion. For the next fiscal year, analysts anticipate that the company will post sales of $62.12 billion, with estimates ranging from $61.93 billion to $62.32 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that cover SYSCO.
SYSCO (NYSE:SYY) last issued its quarterly earnings data on Monday, May 6th. The company reported $0.79 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.70 by $0.09. The business had revenue of $14.66 billion during the quarter, compared to analyst estimates of $14.78 billion. SYSCO had a return on equity of 73.66% and a net margin of 2.65%. SYSCO’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.67 EPS.
SYY has been the topic of a number of analyst reports. ValuEngine upgraded USINAS SIDERURG/S from a “sell” rating to a “hold” rating in a research note on Wednesday, May 29th. Morgan Stanley upped their price objective on SYSCO from $69.00 to $72.00 and gave the stock an “equal weight” rating in a research note on Tuesday, May 7th. Consumer Edge initiated coverage on SYSCO in a research note on Wednesday. They set an “underweight” rating and a $71.75 price objective on the stock. Buckingham Research upped their price objective on SYSCO from $82.00 to $84.00 and gave the stock a “buy” rating in a research note on Tuesday, May 7th. Finally, Zacks Investment Research upgraded HB Fuller from a “sell” rating to a “hold” rating in a research note on Tuesday, June 11th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and seven have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $73.63.
NYSE SYY traded down $1.02 during trading on Friday, hitting $70.86. The stock had a trading volume of 1,390,000 shares, compared to its average volume of 2,696,633. The firm has a market cap of $37.03 billion, a P/E ratio of 22.57, a PEG ratio of 1.91 and a beta of 0.53. The company has a 50-day moving average price of $71.37. The company has a debt-to-equity ratio of 3.44, a current ratio of 1.30 and a quick ratio of 0.79. SYSCO has a 12 month low of $59.44 and a 12 month high of $75.98.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 26th. Shareholders of record on Friday, July 5th will be issued a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a yield of 2.20%. The ex-dividend date is Wednesday, July 3rd. SYSCO’s dividend payout ratio is 49.68%.
A number of hedge funds and other institutional investors have recently modified their holdings of SYY. Dimensional Fund Advisors LP grew its holdings in SYSCO by 4.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,401,640 shares of the company’s stock valued at $87,825,000 after buying an additional 54,838 shares in the last quarter. Brown Advisory Inc. grew its holdings in shares of SYSCO by 9.3% during the 4th quarter. Brown Advisory Inc. now owns 113,343 shares of the company’s stock worth $7,102,000 after purchasing an additional 9,682 shares in the last quarter. Geode Capital Management LLC boosted its stake in SYSCO by 20.5% in the fourth quarter. Geode Capital Management LLC now owns 6,331,895 shares of the company’s stock valued at $396,070,000 after buying an additional 1,076,459 shares in the last quarter. Lido Advisors LLC acquired a new stake in SYSCO in the fourth quarter valued at about $409,000. Finally, Brinker Capital Inc. acquired a new stake in SYSCO in the fourth quarter valued at about $942,000. 77.58% of the stock is currently owned by hedge funds and other institutional investors.
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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