$12.18 Billion in Sales Expected for Sysco Co. (NYSE:SYY) This Quarter

Wall Street analysts forecast that Sysco Co. (NYSE:SYY) will post $12.18 billion in sales for the current fiscal quarter, Zacks reports. Three analysts have made estimates for Sysco’s earnings. The lowest sales estimate is $11.56 billion and the highest is $12.60 billion. Sysco reported sales of $13.70 billion during the same quarter last year, which would suggest a negative year-over-year growth rate of 11.1%. The company is expected to report its next quarterly earnings report before the market opens on Tuesday, May 4th.

According to Zacks, analysts expect that Sysco will report full year sales of $50.17 billion for the current year, with estimates ranging from $49.42 billion to $51.23 billion. For the next fiscal year, analysts forecast that the business will post sales of $59.86 billion, with estimates ranging from $59.03 billion to $61.65 billion. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that cover Sysco.

Sysco (NYSE:SYY) last posted its earnings results on Tuesday, May 4th. The company reported $0.22 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.20 by $0.02. Sysco had a positive return on equity of 39.64% and a negative net margin of 0.04%. The business had revenue of $11.82 billion during the quarter, compared to the consensus estimate of $12.02 billion. During the same quarter last year, the company earned $0.45 EPS. Sysco’s revenue was down 13.7% on a year-over-year basis.

SYY has been the subject of several research analyst reports. JPMorgan Chase & Co. lifted their price objective on Sysco from $80.00 to $85.00 and gave the company a “neutral” rating in a research report on Monday, April 19th. Morgan Stanley boosted their target price on shares of Sysco from $76.00 to $81.00 and gave the stock an “equal weight” rating in a research note on Monday, April 19th. Piper Sandler raised their price target on shares of Sysco from $82.00 to $86.00 and gave the company an “overweight” rating in a report on Thursday, March 18th. Zacks Investment Research downgraded Sysco from a “hold” rating to a “sell” rating and set a $77.00 price objective on the stock. in a report on Wednesday, February 3rd. Finally, Wells Fargo & Company raised their target price on shares of Sysco from $89.00 to $95.00 and gave the company an “overweight” rating in a research note on Monday. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the company’s stock. Sysco currently has an average rating of “Hold” and an average price target of $80.22.

Shares of SYY stock opened at $83.18 on Wednesday. The company has a quick ratio of 1.30, a current ratio of 1.73 and a debt-to-equity ratio of 9.56. The company has a market capitalization of $42.46 billion, a P/E ratio of -1,188.12, a P/E/G ratio of 3.79 and a beta of 1.38. Sysco has a 12-month low of $44.17 and a 12-month high of $85.15. The firm has a 50-day moving average price of $80.84 and a 200 day moving average price of $75.06.

The company also recently announced a quarterly dividend, which was paid on Friday, April 23rd. Investors of record on Thursday, April 1st were paid a $0.45 dividend. The ex-dividend date of this dividend was Wednesday, March 31st. This represents a $1.80 annualized dividend and a dividend yield of 2.16%. Sysco’s dividend payout ratio is presently 89.55%.

Hedge funds and other institutional investors have recently bought and sold shares of the business. IHT Wealth Management LLC lifted its stake in Sysco by 6.4% in the 3rd quarter. IHT Wealth Management LLC now owns 3,947 shares of the company’s stock valued at $246,000 after purchasing an additional 236 shares during the last quarter. Van ECK Associates Corp increased its holdings in shares of Sysco by 30.0% during the 3rd quarter. Van ECK Associates Corp now owns 77,327 shares of the company’s stock worth $4,811,000 after acquiring an additional 17,832 shares during the last quarter. Sei Investments Co. raised its stake in Sysco by 5.3% in the 3rd quarter. Sei Investments Co. now owns 188,300 shares of the company’s stock valued at $11,834,000 after acquiring an additional 9,417 shares during the period. Woodstock Corp boosted its position in Sysco by 3.6% during the fourth quarter. Woodstock Corp now owns 79,956 shares of the company’s stock worth $5,938,000 after purchasing an additional 2,791 shares during the period. Finally, New England Research & Management Inc. increased its holdings in shares of Sysco by 26.3% in the fourth quarter. New England Research & Management Inc. now owns 14,904 shares of the company’s stock valued at $1,107,000 after purchasing an additional 3,100 shares during the last quarter. 81.02% of the stock is currently owned by hedge funds and other 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 in the United States, Canada, the United Kingdom, France, and internationally. It operates through three segments: U.S. Foodservice Operations, International Foodservice Operations, SYGMA, and Other.

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Earnings History and Estimates for Sysco (NYSE:SYY)

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