Brokerages expect SYSCO Co. (NYSE:SYY) to announce $15.56 billion in sales for the current quarter, Zacks Investment Research reports. Two analysts have issued estimates for SYSCO’s earnings, with estimates ranging from $15.55 billion to $15.57 billion. SYSCO posted sales of $15.32 billion during the same quarter last year, which would indicate a positive year-over-year growth rate of 1.6%. The company is expected to issue its next earnings report before the market opens on Monday, August 12th.
On average, analysts expect that SYSCO will report full-year sales of $60.22 billion for the current fiscal year, with estimates ranging from $60.19 billion to $60.27 billion. For the next fiscal year, analysts expect that the company will report sales of $62.12 billion, with estimates ranging from $61.93 billion to $62.32 billion. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that follow SYSCO.
SYSCO (NYSE:SYY) last posted its quarterly earnings data on Monday, May 6th. The company reported $0.79 earnings per share for the quarter, beating analysts’ consensus estimates of $0.70 by $0.09. The business had revenue of $14.66 billion during the quarter, compared to analyst estimates of $14.78 billion. SYSCO had a net margin of 2.65% and a return on equity of 73.66%. The company’s revenue was up 2.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.67 earnings per share.
Several brokerages recently commented on SYY. Loop Capital upped their price target on shares of SYSCO to $80.00 and gave the stock a “buy” rating in a research report on Wednesday, May 8th. Morgan Stanley upped their price target on shares of SYSCO from $69.00 to $72.00 and gave the stock an “equal weight” rating in a research report on Tuesday, May 7th. Pivotal Research reaffirmed a “sell” rating and set a $58.00 price target (up previously from $54.00) on shares of SYSCO in a research report on Tuesday, May 7th. JPMorgan Chase & Co. began coverage on shares of INTL CONS AIRL/S in a research report on Tuesday, June 4th. They set an “overweight” rating for the company. Finally, Zacks Investment Research raised shares of HB Fuller from a “sell” rating to a “hold” rating in a research report on Tuesday, June 11th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $73.63.
Shares of NYSE:SYY traded down $1.02 during trading on Friday, reaching $70.86. The stock had a trading volume of 1,390,028 shares, compared to its average volume of 2,020,898. The firm’s fifty day moving average is $71.37. The company has a current ratio of 1.30, a quick ratio of 0.79 and a debt-to-equity ratio of 3.44. The firm has a market cap of $36.42 billion, a PE ratio of 22.57, a P/E/G ratio of 1.89 and a beta of 0.53. SYSCO has a fifty-two week low of $59.44 and a fifty-two week high of $75.98.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 26th. Stockholders of record on Friday, July 5th will be given a $0.39 dividend. This represents a $1.56 annualized dividend and a dividend yield of 2.20%. The ex-dividend date of this dividend is Wednesday, July 3rd. SYSCO’s payout ratio is currently 49.68%.
Several institutional investors have recently added to or reduced their stakes in SYY. 6 Meridian boosted its stake in SYSCO by 1.8% during the 2nd quarter. 6 Meridian now owns 7,760 shares of the company’s stock valued at $549,000 after acquiring an additional 140 shares during the last quarter. Security National Trust Co. raised its holdings in shares of SYSCO by 6.4% during the first quarter. Security National Trust Co. now owns 2,500 shares of the company’s stock worth $167,000 after purchasing an additional 150 shares during the period. Mitchell Mcleod Pugh & Williams Inc. raised its holdings in shares of SYSCO by 3.4% during the second quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 4,623 shares of the company’s stock worth $327,000 after purchasing an additional 150 shares during the period. LVM Capital Management Ltd. MI raised its holdings in shares of SYSCO by 1.4% during the first quarter. LVM Capital Management Ltd. MI now owns 11,284 shares of the company’s stock worth $753,000 after purchasing an additional 155 shares during the period. Finally, Cornerstone Advisors Inc. raised its holdings in shares of SYSCO by 27.0% during the second quarter. Cornerstone Advisors Inc. now owns 733 shares of the company’s stock worth $52,000 after purchasing an additional 156 shares during the period. 77.58% of the stock is owned by institutional investors.
SYSCO Company Profile
Sysco Corporation, through its subsidiaries, markets and distributes a range of food and related products primarily to the foodservice or food-away-from-home industry. It operates through three segments: U.S. Foodservice Operations, International Foodservice Operations, and SYGMA. The company distributes a line of frozen foods, such as meats, seafood, fully prepared entrees, fruits, vegetables, and desserts; a line of canned and dry foods; fresh meats and seafood; dairy products; beverage products; imported specialties; and fresh produce.
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