SYSCO Co. (NYSE:SYY) – Research analysts at Jefferies Group boosted their Q2 2019 earnings estimates for shares of SYSCO in a research report issued on Monday. Jefferies Group analyst C. Mandeville now anticipates that the company will earn $0.85 per share for the quarter, up from their previous forecast of $0.71. Jefferies Group has a “Hold” rating and a $67.00 price objective on the stock. Jefferies Group also issued estimates for SYSCO’s Q3 2019 earnings at $0.79 EPS.
SYSCO (NYSE:SYY) last announced its quarterly earnings results on Monday, February 5th. The company reported $0.66 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.65 by $0.01. SYSCO had a net margin of 2.10% and a return on equity of 61.02%. The business had revenue of $14.41 billion during the quarter, compared to analysts’ expectations of $14.15 billion. During the same quarter in the prior year, the company posted $0.58 EPS. The firm’s revenue for the quarter was up 7.1% compared to the same quarter last year.
Shares of SYSCO (NYSE SYY) traded up $1.33 during trading on Wednesday, hitting $58.33. 3,099,252 shares of the company traded hands, compared to its average volume of 2,715,145. The company has a debt-to-equity ratio of 3.66, a quick ratio of 0.88 and a current ratio of 1.38. The company has a market cap of $29,720.00, a price-to-earnings ratio of 25.99, a price-to-earnings-growth ratio of 2.06 and a beta of 0.56. SYSCO has a 52 week low of $48.85 and a 52 week high of $64.27.
Several institutional investors and hedge funds have recently made changes to their positions in the company. First Personal Financial Services lifted its stake in SYSCO by 293.2% during the third quarter. First Personal Financial Services now owns 1,962 shares of the company’s stock worth $106,000 after purchasing an additional 1,463 shares during the last quarter. Valeo Financial Advisors LLC lifted its stake in SYSCO by 98.7% in the fourth quarter. Valeo Financial Advisors LLC now owns 2,267 shares of the company’s stock valued at $138,000 after buying an additional 1,126 shares during the last quarter. Advisors Asset Management Inc. lifted its stake in SYSCO by 465.7% in the third quarter. Advisors Asset Management Inc. now owns 2,783 shares of the company’s stock valued at $150,000 after buying an additional 2,291 shares during the last quarter. Thompson Siegel & Walmsley LLC increased its holdings in shares of SYSCO by 51.9% in the third quarter. Thompson Siegel & Walmsley LLC now owns 2,926 shares of the company’s stock valued at $158,000 after purchasing an additional 1,000 shares during the period. Finally, Trustcore Financial Services LLC acquired a new position in shares of SYSCO in the fourth quarter valued at approximately $194,000. Institutional investors and hedge funds own 80.09% of the company’s stock.
In other SYSCO news, CEO William J. Delaney III sold 150,000 shares of the firm’s stock in a transaction on Monday, November 13th. The stock was sold at an average price of $54.05, for a total value of $8,107,500.00. Following the completion of the sale, the chief executive officer now directly owns 526,725 shares of the company’s stock, valued at approximately $28,469,486.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Greg D. Bertrand sold 81,038 shares of the firm’s stock in a transaction dated Wednesday, January 10th. The stock was sold at an average price of $60.76, for a total value of $4,923,868.88. Following the sale, the senior vice president now directly owns 69,721 shares of the company’s stock, valued at $4,236,247.96. The disclosure for this sale can be found here. Insiders sold a total of 294,695 shares of company stock worth $16,866,723 in the last 90 days. 9.60% of the stock is currently owned by insiders.
The company also recently disclosed a quarterly dividend, which was paid on Friday, January 26th. Shareholders of record on Friday, January 5th were issued a $0.36 dividend. The ex-dividend date was Thursday, January 4th. This represents a $1.44 dividend on an annualized basis and a yield of 2.47%. This is a positive change from SYSCO’s previous quarterly dividend of $0.33. SYSCO’s dividend payout ratio (DPR) is presently 64.57%.
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SYSCO 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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