SYSCO Co. (SYY) Expected to Post Earnings of $0.73 Per Share

Analysts expect SYSCO Co. (NYSE:SYY) to report earnings per share of $0.73 for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for SYSCO’s earnings. The highest EPS estimate is $0.74 and the lowest is $0.71. SYSCO reported earnings of $0.66 per share in the same quarter last year, which would indicate a positive year over year growth rate of 10.6%. The business is expected to announce its next earnings results on Monday, February 4th.

According to Zacks, analysts expect that SYSCO will report full year earnings of $3.39 per share for the current financial year, with EPS estimates ranging from $3.32 to $3.45. For the next financial year, analysts forecast that the firm will report earnings of $3.72 per share, with EPS estimates ranging from $3.64 to $3.77. Zacks’ earnings per share calculations are a mean average based on a survey of research firms that that provide coverage for SYSCO.

SYSCO (NYSE:SYY) last posted its quarterly earnings results on Monday, November 5th. The company reported $0.91 EPS for the quarter, missing the consensus estimate of $0.92 by ($0.01). The firm had revenue of $15.22 billion during the quarter, compared to analyst estimates of $15.39 billion. SYSCO had a net margin of 2.52% and a return on equity of 68.81%. The company’s revenue was up 3.9% on a year-over-year basis. During the same period last year, the company earned $0.74 EPS.

Several equities analysts have commented on SYY shares. Buckingham Research started coverage on SYSCO in a report on Monday, October 22nd. They issued a “buy” rating and a $82.00 price target for the company. Royal Bank of Canada set a $67.00 price target on SYSCO and gave the company a “hold” rating in a report on Friday, November 2nd. Pivotal Research reaffirmed a “sell” rating and issued a $62.00 price target on shares of SYSCO in a report on Friday, November 2nd. ValuEngine lowered SYSCO from a “buy” rating to a “hold” rating in a research note on Tuesday, November 6th. Finally, Loop Capital lowered their price objective on SYSCO to $75.00 and set a “buy” rating on the stock in a research note on Tuesday, November 6th. They noted that the move was a valuation call. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and six have assigned a buy rating to the stock. SYSCO has a consensus rating of “Hold” and an average price target of $73.58.

SYSCO stock traded down $0.01 during trading hours on Thursday, hitting $62.24. The stock had a trading volume of 2,743,852 shares, compared to its average volume of 2,906,996. The company has a quick ratio of 0.80, a current ratio of 1.30 and a debt-to-equity ratio of 3.00. The stock has a market cap of $32.60 billion, a price-to-earnings ratio of 19.82, a price-to-earnings-growth ratio of 1.78 and a beta of 0.57. SYSCO has a fifty-two week low of $56.01 and a fifty-two week high of $75.98.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 25th. Stockholders of record on Friday, January 4th will be paid a $0.39 dividend. This is a positive change from SYSCO’s previous quarterly dividend of $0.36. This represents a $1.56 annualized dividend and a dividend yield of 2.51%. The ex-dividend date of this dividend is Thursday, January 3rd. SYSCO’s dividend payout ratio is currently 49.68%.

In related news, Director Richard G. Tilghman sold 5,000 shares of the stock in a transaction that occurred on Thursday, November 15th. The stock was sold at an average price of $66.17, for a total transaction of $330,850.00. Following the sale, the director now directly owns 7,055 shares in the company, valued at approximately $466,829.35. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Trian Fund Management, L.P. sold 2,215,532 shares of the stock in a transaction that occurred on Tuesday, November 20th. The stock was sold at an average price of $66.45, for a total value of $147,222,101.40. Following the sale, the director now owns 7,055 shares in the company, valued at $468,804.75. The disclosure for this sale can be found here. Over the last quarter, insiders sold 3,745,007 shares of company stock worth $248,930,539. Corporate insiders own 7.88% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SYY. Cognios Capital LLC grew its position in SYSCO by 32.4% during the 2nd quarter. Cognios Capital LLC now owns 54,165 shares of the company’s stock worth $3,697,000 after acquiring an additional 13,245 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in SYSCO by 1.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,325,108 shares of the company’s stock valued at $90,493,000 after buying an additional 19,177 shares during the last quarter. Van ECK Associates Corp boosted its position in SYSCO by 29.4% in the 2nd quarter. Van ECK Associates Corp now owns 47,031 shares of the company’s stock valued at $3,212,000 after buying an additional 10,696 shares during the last quarter. BB&T Securities LLC boosted its position in SYSCO by 2.7% in the 2nd quarter. BB&T Securities LLC now owns 50,475 shares of the company’s stock valued at $3,447,000 after buying an additional 1,304 shares during the last quarter. Finally, Morgan Stanley boosted its position in SYSCO by 83.0% in the 2nd quarter. Morgan Stanley now owns 3,896,733 shares of the company’s stock valued at $266,109,000 after buying an additional 1,767,298 shares during the last quarter. Institutional investors and hedge funds own 78.86% of the company’s stock.

About SYSCO

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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Earnings History and Estimates for SYSCO (NYSE:SYY)

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