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.

TRADEMARK VIOLATION NOTICE: “Analysts Expect Sysco Corporation (SYY) Will Post Quarterly Sales of $14.21 Billion” was originally reported by Daily Political and is owned by of Daily Political. If you are accessing this article on another publication, it was illegally copied and reposted in violation of U.S. and international trademark & copyright laws. The legal version of this article can be accessed at https://www.dailypolitical.com/2017/11/20/analysts-expect-sysco-corporation-syy-will-post-quarterly-sales-of-14-21-billion.html.

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.

Get a free copy of the Zacks research report on Sysco Corporation (SYY)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Sysco Corporation (NYSE:SYY)

Receive News & Ratings for Sysco Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sysco Corporation and related companies with MarketBeat.com's FREE daily email newsletter.