$14.40 Billion in Sales Expected for SYSCO Co. (SYY) This Quarter

Equities research analysts expect SYSCO Co. (NYSE:SYY) to report $14.40 billion in sales for the current fiscal quarter, according to Zacks. Three analysts have made estimates for SYSCO’s earnings, with the lowest sales estimate coming in at $14.30 billion and the highest estimate coming in at $14.52 billion. SYSCO posted sales of $13.52 billion during the same quarter last year, which suggests a positive year over year growth rate of 6.5%. The business is expected to report its next earnings report on Monday, May 14th.

On average, analysts expect that SYSCO will report full-year sales of $14.40 billion for the current fiscal year, with estimates ranging from $58.60 billion to $58.92 billion. For the next year, analysts forecast that the firm will report sales of $61.42 billion per share, with estimates ranging from $61.33 billion to $61.57 billion. Zacks’ sales calculations are a mean average based on a survey of research analysts that cover SYSCO.

SYSCO (NYSE:SYY) last announced its earnings results on Monday, February 5th. The company reported $0.66 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.65 by $0.01. The business had revenue of $14.41 billion during the quarter, compared to analyst estimates of $14.15 billion. SYSCO had a return on equity of 61.02% and a net margin of 2.10%. SYSCO’s revenue for the quarter was up 7.1% compared to the same quarter last year. During the same period last year, the company earned $0.58 EPS.

Several analysts have recently commented on SYY shares. Pivotal Research restated a “hold” rating and issued a $53.00 target price on shares of SYSCO in a research note on Sunday, November 5th. Loop Capital lifted their target price on shares of SYSCO to $68.00 and gave the stock a “buy” rating in a research report on Monday, December 11th. BMO Capital Markets set a $66.00 target price on shares of SYSCO and gave the stock a “buy” rating in a research report on Friday, December 8th. Zacks Investment Research cut shares of SYSCO from a “buy” rating to a “hold” rating in a report on Thursday, November 9th. Finally, Morgan Stanley raised shares of SYSCO from an “underweight” rating to an “equal weight” rating and set a $64.00 price target on the stock in a report on Tuesday, January 16th. Six analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $65.20.

Shares of SYSCO (NYSE:SYY) opened at $58.33 on Monday. The company has a current ratio of 1.38, a quick ratio of 0.88 and a debt-to-equity ratio of 3.66. SYSCO has a 1-year low of $48.85 and a 1-year high of $64.27. The firm has a market capitalization of $30,390.00, a PE ratio of 26.16, a price-to-earnings-growth ratio of 1.96 and a beta of 0.56.

The business also recently announced a quarterly dividend, which was paid on Friday, January 26th. Investors of record on Friday, January 5th were given a $0.36 dividend. The ex-dividend date of this dividend was Thursday, January 4th. This is a positive change from SYSCO’s previous quarterly dividend of $0.33. This represents a $1.44 annualized dividend and a yield of 2.47%. SYSCO’s payout ratio is 64.57%.

In other SYSCO news, insider Russell T. Libby sold 13,334 shares of the business’s stock in a transaction on Tuesday, January 2nd. The shares were sold at an average price of $60.69, for a total value of $809,240.46. Following the completion of the sale, the insider now directly owns 64,394 shares of the company’s stock, valued at $3,908,071.86. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Wayne Shurts sold 15,600 shares of the business’s stock in a transaction on Wednesday, November 29th. The stock was sold at an average price of $56.66, for a total transaction of $883,896.00. Following the completion of the sale, the insider now directly owns 56,985 shares of the company’s stock, valued at $3,228,770.10. The disclosure for this sale can be found here. Insiders sold 144,695 shares of company stock valued at $8,759,223 over the last quarter. 9.60% of the stock is owned by company insiders.

A number of institutional investors have recently bought and sold shares of SYY. First Personal Financial Services raised its stake in shares of SYSCO by 293.2% during the third quarter. First Personal Financial Services now owns 1,962 shares of the company’s stock valued at $106,000 after acquiring an additional 1,463 shares during the last quarter. Valeo Financial Advisors LLC raised its stake in shares of SYSCO by 98.7% during the fourth quarter. Valeo Financial Advisors LLC now owns 2,267 shares of the company’s stock valued at $138,000 after acquiring an additional 1,126 shares during the last quarter. Advisors Asset Management Inc. raised its stake in shares of SYSCO by 465.7% during the third quarter. Advisors Asset Management Inc. now owns 2,783 shares of the company’s stock valued at $150,000 after acquiring an additional 2,291 shares during the last quarter. Thompson Siegel & Walmsley LLC raised its stake in shares of SYSCO by 51.9% during the third quarter. Thompson Siegel & Walmsley LLC now owns 2,926 shares of the company’s stock valued at $158,000 after acquiring an additional 1,000 shares during the last quarter. Finally, Trustcore Financial Services LLC bought a new position in shares of SYSCO during the fourth quarter valued at about $194,000. 80.09% of the stock is owned by institutional investors and hedge funds.

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About SYSCO

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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Earnings History and Estimates for SYSCO (NYSE:SYY)

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