Sysco Corporation (NYSE:SYY) - Investment analysts at Jefferies Group increased their Q1 2018 earnings per share (EPS) estimates for Sysco Corporation in a research report issued to clients and investors on Monday. Jefferies Group analyst C. Mandeville now anticipates that the company will earn $0.72 per share for the quarter, up from their prior estimate of $0.71. Jefferies Group has a “Hold” rating and a $51.00 price objective on the stock. Jefferies Group also issued estimates for Sysco Corporation’s Q2 2018 earnings at $0.62 EPS, Q4 2018 earnings at $0.79 EPS, FY2018 earnings at $2.70 EPS, FY2020 earnings at $3.06 EPS and FY2022 earnings at $3.47 EPS.
Sysco Corporation (NYSE:SYY) last posted its quarterly earnings data on Monday, August 14th. The company reported $0.72 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.71 by $0.01. The company had revenue of $14.40 billion for the quarter, compared to analysts’ expectations of $14.35 billion. Sysco Corporation had a net margin of 2.06% and a return on equity of 52.09%. Sysco Corporation’s revenue for the quarter was up 5.5% compared to the same quarter last year. During the same period in the prior year, the business earned $0.64 earnings per share.
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Several other analysts have also recently issued reports on the company. Wells Fargo & Company reaffirmed 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 objective 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 objective on shares of Sysco Corporation in a report on Monday, June 26th. Zacks Investment Research raised Sysco Corporation from a “hold” rating to a “buy” rating and set a $57.00 price objective on the stock in a report on Friday, July 21st. Finally, J P Morgan Chase & Co reaffirmed an “overweight” rating and set a $57.00 price objective 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 given a buy rating to the company’s stock. Sysco Corporation presently has an average rating of “Hold” and an average target price of $56.02.
Sysco Corporation (NYSE SYY) traded down 0.16% on Wednesday, hitting $51.51. 1,045,874 shares of the company traded hands. The firm’s 50 day moving average price is $51.01 and its 200 day moving average price is $52.58. Sysco Corporation has a 1-year low of $47.15 and a 1-year high of $57.07. The firm has a market capitalization of $27.57 billion, a PE ratio of 27.15 and a beta of 0.52.
The company also recently announced a quarterly dividend, which will be paid on Friday, October 27th. Shareholders of record on Friday, October 6th will be issued a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 2.56%. The ex-dividend date of this dividend is Thursday, October 5th. Sysco Corporation’s dividend payout ratio is 63.16%.
In related news, insider Wayne Shurts sold 15,600 shares of the company’s stock in a transaction on Thursday, May 25th. The stock was sold at an average price of $54.25, for a total transaction of $846,300.00. Following the completion of the sale, the insider now directly owns 58,776 shares in the company, valued at approximately $3,188,598. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO William J. Delaney III sold 30,000 shares of the company’s stock in a transaction on Wednesday, July 12th. The stock was sold at an average price of $49.92, for a total value of $1,497,600.00. Following the sale, the chief executive officer now owns 406,725 shares of the company’s stock, valued at $20,303,712. The disclosure for this sale can be found here. Insiders sold a total of 122,400 shares of company stock valued at $6,494,700 over the last quarter. Company insiders own 8.81% of the company’s stock.
Several large investors have recently modified their holdings of SYY. Iowa State Bank boosted its stake in shares of Sysco Corporation by 0.7% in the first quarter. Iowa State Bank now owns 91,709 shares of the company’s stock worth $4,762,000 after buying an additional 596 shares during the period. Cribstone Capital Management LLC boosted its stake in shares of Sysco Corporation by 94.7% in the first quarter. Cribstone Capital Management LLC now owns 3,584 shares of the company’s stock worth $186,000 after buying an additional 1,743 shares during the period. Doyle Wealth Management bought a new stake in shares of Sysco Corporation during the first quarter worth $252,000. Americafirst Capital Management LLC bought a new stake in shares of Sysco Corporation during the first quarter worth $320,000. Finally, Pinnacle Bank bought a new stake in shares of Sysco Corporation during the first quarter worth $217,000. Hedge funds and other institutional investors own 78.49% of the company’s stock.
About Sysco Corporation
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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