Equities research analysts expect Sysco Corporation (NYSE:SYY) to announce earnings per share (EPS) of $0.71 for the current fiscal quarter, according to Zacks. Four analysts have provided estimates for Sysco Corporation’s earnings, with the highest EPS estimate coming in at $0.73 and the lowest estimate coming in at $0.69. Sysco Corporation posted earnings per share of $0.64 during the same quarter last year, which indicates a positive year over year growth rate of 10.9%. The firm is scheduled to issue its next earnings results before the market opens on Monday, August 14th.
According to Zacks, analysts expect that Sysco Corporation will report full-year earnings of $2.47 per share for the current financial year, with EPS estimates ranging from $2.45 to $2.50. For the next fiscal year, analysts expect that the firm will report earnings of $2.75 per share, with EPS estimates ranging from $2.68 to $2.82. Zacks Investment Research’s EPS calculations are an average based on a survey of research analysts that follow Sysco Corporation.
Sysco Corporation (NYSE:SYY) last released its quarterly earnings data on Monday, May 8th. The company reported $0.51 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.51. The firm had revenue of $13.52 billion for the quarter, compared to analyst estimates of $13.14 billion. Sysco Corporation had a net margin of 1.93% and a return on equity of 47.28%. The company’s revenue for the quarter was up 12.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.46 EPS.
SYY has been the topic of several research reports. Wells Fargo & Company reissued a “buy” rating on shares of Sysco Corporation in a report on Friday, June 23rd. BMO Capital Markets reaffirmed a “buy” rating and set a $60.00 price target on shares of Sysco Corporation in a report on Tuesday, June 27th. Bank of America Corporation reaffirmed a “buy” rating and set a $61.00 price target on shares of Sysco Corporation in a report on Monday, June 26th. Zacks Investment Research downgraded Sysco Corporation from a “buy” rating to a “hold” rating in a report on Wednesday, May 10th. Finally, J P Morgan Chase & Co reaffirmed an “overweight” rating and set a $57.00 price target on shares of Sysco Corporation in a report on Friday, June 23rd. Nine investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $56.02.
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Shares of Sysco Corporation (SYY) traded up 0.81% during mid-day trading on Tuesday, reaching $51.97. 2,365,959 shares of the company’s stock were exchanged. The stock has a market cap of $27.81 billion, a price-to-earnings ratio of 27.40 and a beta of 0.52. Sysco Corporation has a 52-week low of $47.15 and a 52-week high of $57.07. The stock’s 50-day moving average is $51.97 and its 200-day moving average is $52.83.
The business also recently declared a quarterly dividend, which will be paid on Friday, July 28th. Shareholders of record on Friday, July 7th will be given a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 2.56%. The ex-dividend date is Wednesday, July 5th. Sysco Corporation’s payout ratio is 69.47%.
In related news, CEO William J. Delaney III sold 30,000 shares of the stock in a transaction that occurred on Wednesday, June 14th. The stock was sold at an average price of $55.55, for a total transaction of $1,666,500.00. Following the completion of the transaction, the chief executive officer now directly owns 406,725 shares of the company’s stock, valued at $22,593,573.75. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Wayne Shurts sold 15,600 shares of the stock in a transaction that occurred on Thursday, May 25th. The shares were sold at an average price of $54.25, for a total value of $846,300.00. Following the transaction, the insider now directly owns 58,776 shares of the company’s stock, valued at $3,188,598. The disclosure for this sale can be found here. In the last ninety days, insiders sold 152,400 shares of company stock valued at $8,121,300. Corporate insiders own 8.81% of the company’s stock.
A number of institutional investors have recently made changes to their positions in SYY. North Star Investment Management Corp. raised its stake in Sysco Corporation by 81.2% in the first quarter. North Star Investment Management Corp. now owns 1,944 shares of the company’s stock valued at $101,000 after buying an additional 871 shares during the last quarter. TrimTabs Asset Management LLC raised its stake in Sysco Corporation by 88.7% in the first quarter. TrimTabs Asset Management LLC now owns 2,162 shares of the company’s stock valued at $112,000 after buying an additional 1,016 shares during the last quarter. Howe & Rusling Inc. raised its stake in Sysco Corporation by 81.1% in the first quarter. Howe & Rusling Inc. now owns 2,595 shares of the company’s stock valued at $135,000 after buying an additional 1,162 shares during the last quarter. Kistler Tiffany Companies LLC raised its stake in Sysco Corporation by 0.4% in the first quarter. Kistler Tiffany Companies LLC now owns 2,903 shares of the company’s stock valued at $151,000 after buying an additional 13 shares during the last quarter. Finally, Blue Chip Partners Inc. raised its stake in Sysco Corporation by 0.6% in the first quarter. Blue Chip Partners Inc. now owns 2,949 shares of the company’s stock valued at $153,000 after buying an additional 19 shares during the last quarter. 78.56% of the stock is owned by institutional investors.
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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