Wall Street brokerages forecast that SYSCO Co. (NYSE:SYY) will announce earnings per share (EPS) of $0.66 for the current quarter, Zacks reports. Three analysts have made estimates for SYSCO’s earnings. The lowest EPS estimate is $0.62 and the highest is $0.70. SYSCO reported earnings of $0.51 per share during the same quarter last year, which would indicate a positive year over year growth rate of 29.4%. The firm is expected to announce its next earnings results on Monday, May 14th.
According to Zacks, analysts expect that SYSCO will report full-year earnings of $2.95 per share for the current year, with EPS estimates ranging from $2.85 to $3.08. For the next fiscal year, analysts anticipate that the company will post earnings of $3.59 per share, with EPS estimates ranging from $3.50 to $3.72. Zacks Investment Research’s earnings per share averages are an average based on a survey of analysts that follow SYSCO.
SYSCO (NYSE:SYY) last released its quarterly earnings results on Monday, February 5th. The company reported $0.66 EPS for the quarter, beating analysts’ consensus estimates of $0.65 by $0.01. SYSCO had a return on equity of 61.02% and a net margin of 2.10%. The company had revenue of $14.41 billion during the quarter, compared to analysts’ expectations of $14.15 billion. During the same period last year, the business posted $0.58 earnings per share. The firm’s revenue was up 7.1% compared to the same quarter last year.
A number of equities research analysts have commented on SYY shares. Loop Capital increased their price target on SYSCO to $68.00 and gave the company a “buy” rating in a research note on Monday, December 11th. Pivotal Research increased their price target on SYSCO from $53.00 to $60.00 and gave the company a “buy” rating in a research note on Tuesday, December 12th. BMO Capital Markets set a $66.00 price target on SYSCO and gave the company a “buy” rating in a research note on Friday, December 8th. Zacks Investment Research upgraded SYSCO from a “hold” rating to a “strong-buy” rating and set a $71.00 price target for the company in a research note on Wednesday, January 10th. Finally, Jefferies Group set a $67.00 price target on SYSCO and gave the company a “hold” rating in a research note on Monday, February 5th. Seven analysts have rated the stock with a hold rating and six have issued a buy rating to the company. SYSCO currently has a consensus rating of “Hold” and an average price target of $65.20.
Shares of SYSCO (NYSE:SYY) opened at $59.38 on Friday. The company has a quick ratio of 0.85, a current ratio of 1.38 and a debt-to-equity ratio of 3.66. SYSCO has a 12 month low of $48.85 and a 12 month high of $64.27. The company has a market capitalization of $31,252.50, a PE ratio of 26.51, a price-to-earnings-growth ratio of 2.01 and a beta of 0.60.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 27th. Stockholders of record on Friday, April 6th will be paid a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 2.43%. The ex-dividend date of this dividend is Thursday, April 5th. SYSCO’s payout ratio is 64.29%.
In other news, EVP Wayne Shurts sold 7,800 shares of the firm’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $58.98, for a total value of $460,044.00. Following the completion of the transaction, the executive vice president now directly owns 55,235 shares in the company, valued at $3,257,760.30. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Greg D. Bertrand sold 81,038 shares of the firm’s stock in a transaction dated Wednesday, January 10th. The stock was sold at an average price of $60.76, for a total value of $4,923,868.88. Following the completion of the transaction, the senior vice president now owns 69,721 shares of the company’s stock, valued at $4,236,247.96. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 159,704 shares of company stock valued at $9,713,748. Company insiders own 9.60% of the company’s stock.
A number of hedge funds have recently made changes to their positions in the stock. Ameriprise Financial Inc. raised its position in SYSCO by 2.0% during the third quarter. Ameriprise Financial Inc. now owns 10,451,813 shares of the company’s stock valued at $563,890,000 after acquiring an additional 208,815 shares in the last quarter. Parnassus Investments CA raised its position in SYSCO by 1.8% during the fourth quarter. Parnassus Investments CA now owns 7,547,366 shares of the company’s stock valued at $458,352,000 after acquiring an additional 136,965 shares in the last quarter. American Century Companies Inc. raised its position in 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 acquiring an additional 457,259 shares in the last quarter. Janus Henderson Group PLC raised its position in SYSCO by 4.6% during the third quarter. Janus Henderson Group PLC now owns 5,969,351 shares of the company’s stock valued at $322,047,000 after acquiring an additional 261,748 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its position in SYSCO by 0.9% during the third quarter. Bank of New York Mellon Corp now owns 5,707,166 shares of the company’s stock valued at $307,903,000 after acquiring an additional 51,159 shares in the last quarter. Institutional investors own 79.05% of the company’s stock.
Sysco Corporation (Sysco) is a distributor of food and related products primarily to the foodservice or food-away-from-home industry. The Company’s segments include Broadline, SYGMA and Other. The Broadline segment includes its Broadline operations located in the Bahamas, Canada, Costa Rica, Ireland, Mexico and the United States.
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