SYSCO Co. (SYY) Expected to Earn Q2 2019 Earnings of $0.85 Per Share

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.

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

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.

Earnings History and Estimates for SYSCO (NYSE:SYY)

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