Analysts Expect Sysco Corporation (SYY) Will Post Quarterly Sales of $14.21 Billion
Brokerages expect that Sysco Corporation (NYSE:SYY) will post $14.21 billion in sales for the current quarter, according to Zacks. Four analysts have provided estimates for Sysco Corporation’s earnings, with the lowest sales estimate coming in at $14.16 billion and the highest estimate coming in at $14.32 billion. Sysco Corporation posted sales of $13.46 billion in the same quarter last year, which would indicate a positive year-over-year growth rate of 5.6%. The firm is expected to issue its next earnings results on Monday, February 5th.
On average, analysts expect that Sysco Corporation will report full-year sales of $14.21 billion for the current year, with estimates ranging from $57.31 billion to $58.33 billion. For the next fiscal year, analysts anticipate that the company will post sales of $60.34 billion per share, with estimates ranging from $59.31 billion to $60.74 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research analysts that cover Sysco Corporation.
Sysco Corporation (NYSE:SYY) last released its earnings results on Monday, November 6th. The company reported $0.74 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.72 by $0.02. Sysco Corporation had a return on equity of 58.47% and a net margin of 2.12%. The firm had revenue of $14.65 billion for the quarter, compared to the consensus estimate of $14.43 billion. During the same period in the prior year, the business posted $0.67 earnings per share. The firm’s revenue for the quarter was up 4.9% compared to the same quarter last year.
A number of research analysts recently commented on the company. Jefferies Group LLC reaffirmed a “hold” rating and set a $51.00 target price on shares of Sysco Corporation in a report on Friday, August 4th. Pivotal Research reissued a “hold” rating and issued a $53.00 price target on shares of Sysco Corporation in a report on Sunday, November 5th. Royal Bank Of Canada set a $50.00 price target on Sysco Corporation and gave the stock a “hold” rating in a report on Friday, August 11th. Zacks Investment Research downgraded Sysco Corporation from a “buy” rating to a “hold” rating in a report on Wednesday, August 16th. Finally, BMO Capital Markets reissued an “outperform” rating on shares of Sysco Corporation in a report on Tuesday, September 12th. Nine research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $56.42.
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In other news, Director Trian Fund Management, L.P. purchased 889,561 shares of the stock in a transaction that occurred on Tuesday, September 19th. The shares were purchased at an average cost of $53.68 per share, for a total transaction of $47,751,634.48. Following the completion of the purchase, the director now directly owns 5,529 shares of the company’s stock, valued at approximately $296,796.72. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO William J. Delaney III sold 150,000 shares of the business’s stock in a transaction dated Monday, November 13th. The shares were sold at an average price of $54.05, for a total value of $8,107,500.00. Following the transaction, the chief executive officer now owns 526,725 shares in the company, valued at $28,469,486.25. The disclosure for this sale can be found here. In the last three months, insiders have sold 2,275,781 shares of company stock valued at $122,319,128. Insiders own 9.60% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SYY. BlackRock Inc. boosted its holdings in shares of Sysco Corporation by 2,088.2% in the 1st quarter. BlackRock Inc. now owns 32,207,618 shares of the company’s stock worth $1,672,219,000 after acquiring an additional 30,735,711 shares in the last quarter. Janus Henderson Group PLC boosted its holdings in shares of Sysco Corporation by 9,055.0% in the 2nd quarter. Janus Henderson Group PLC now owns 5,707,603 shares of the company’s stock worth $287,264,000 after acquiring an additional 5,645,259 shares in the last quarter. American Century Companies Inc. boosted its holdings in shares of Sysco Corporation by 47.6% in the 2nd quarter. American Century Companies Inc. now owns 5,054,930 shares of the company’s stock worth $254,415,000 after acquiring an additional 1,629,990 shares in the last quarter. Capital World Investors boosted its holdings in shares of Sysco Corporation by 11.7% in the 2nd quarter. Capital World Investors now owns 13,767,000 shares of the company’s stock worth $692,893,000 after acquiring an additional 1,445,000 shares in the last quarter. Finally, Nordea Investment Management AB boosted its holdings in shares of Sysco Corporation by 252.7% in the 2nd quarter. Nordea Investment Management AB now owns 1,928,089 shares of the company’s stock worth $97,041,000 after acquiring an additional 1,381,441 shares in the last quarter. 79.70% of the stock is currently owned by institutional investors.
Shares of Sysco Corporation (SYY) traded up $0.08 during trading hours on Friday, reaching $54.97. The company’s stock had a trading volume of 1,737,459 shares, compared to its average volume of 2,912,009. The firm has a market capitalization of $28,600.00, a price-to-earnings ratio of 21.52, a PEG ratio of 2.46 and a beta of 0.53. The company has a debt-to-equity ratio of 3.77, a current ratio of 1.40 and a quick ratio of 0.88. Sysco Corporation has a 12 month low of $48.85 and a 12 month high of $57.23.
The firm also recently announced a quarterly dividend, which will be paid on Friday, January 26th. Stockholders of record on Friday, January 5th will be given a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 2.62%. The ex-dividend date of this dividend is Thursday, January 4th. This is a boost from Sysco Corporation’s previous quarterly dividend of $0.33. Sysco Corporation’s dividend payout ratio (DPR) is 60.27%.
Sysco Corporation Company Profile
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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