Analysts forecast that Sysco Co. (NYSE:SYY) will report $14.56 billion in sales for the current fiscal quarter, according to Zacks. Three analysts have issued estimates for Sysco's earnings. The highest sales estimate is $15.03 billion and the lowest is $14.29 billion. Sysco posted sales of $8.87 billion in the same quarter last year, which would indicate a positive year-over-year growth rate of 64.1%. The firm is scheduled to issue its next earnings report before the market opens on Tuesday, August 10th.
According to Zacks, analysts expect that Sysco will report full-year sales of $49.69 billion for the current fiscal year, with estimates ranging from $49.45 billion to $50.09 billion. For the next financial year, analysts expect that the company will post sales of $60.77 billion, with estimates ranging from $59.79 billion to $61.72 billion. Zacks' sales averages are a mean average based on a survey of research firms that follow Sysco.
Sysco (NYSE:SYY) last posted its quarterly earnings data on Tuesday, May 4th. The company reported $0.22 earnings per share for the quarter, topping the Zacks' consensus estimate of $0.20 by $0.02. The firm had revenue of $11.82 billion during the quarter, compared to analysts' expectations of $12.02 billion. Sysco had a positive return on equity of 17.14% and a negative net margin of 0.56%. The business's quarterly revenue was down 13.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.45 EPS.
SYY has been the subject of a number of recent analyst reports. Wells Fargo & Company raised their price objective on Sysco from $89.00 to $95.00 and gave the stock an "overweight" rating in a research report on Tuesday, April 27th. JPMorgan Chase & Co. raised their price objective on Sysco from $80.00 to $85.00 and gave the stock a "neutral" rating in a research report on Monday, April 12th. They noted that the move was a valuation call. Barclays raised their target price on Sysco from $80.00 to $83.00 and gave the stock an "equal weight" rating in a research note on Friday, May 21st. Finally, Morgan Stanley raised their target price on Sysco from $88.00 to $89.00 and gave the stock an "equal weight" rating in a research note on Monday, May 24th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the company. Sysco presently has an average rating of "Hold" and a consensus target price of $85.38.
In other Sysco news, Director Joshua D. Frank sold 650,000 shares of Sysco stock in a transaction dated Monday, June 7th. The stock was sold at an average price of $79.56, for a total transaction of $51,714,000.00. Following the completion of the transaction, the director now owns 4,840 shares in the company, valued at approximately $385,070.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Joshua D. Frank sold 357,884 shares of Sysco stock in a transaction dated Thursday, May 27th. The shares were sold at an average price of $81.08, for a total value of $29,017,234.72. Following the completion of the transaction, the director now owns 4,840 shares of the company's stock, valued at approximately $392,427.20. The disclosure for this sale can be found here. Insiders have sold a total of 1,167,884 shares of company stock valued at $93,808,035 in the last quarter. Company insiders own 5.17% of the company's stock.
Several institutional investors have recently made changes to their positions in SYY. Piscataqua Savings Bank purchased a new position in shares of Sysco in the 1st quarter valued at about $26,000. tru Independence LLC purchased a new position in shares of Sysco in the 4th quarter valued at about $31,000. SOA Wealth Advisors LLC. purchased a new position in shares of Sysco in the 4th quarter valued at about $31,000. Bogart Wealth LLC purchased a new position in shares of Sysco in the 1st quarter valued at about $31,000. Finally, RMR Wealth Builders purchased a new position in shares of Sysco in the 4th quarter valued at about $34,000. Hedge funds and other institutional investors own 79.10% of the company's stock.
Sysco stock opened at $73.27 on Thursday. The company has a debt-to-equity ratio of 8.41, a current ratio of 1.65 and a quick ratio of 1.19. The firm has a market cap of $37.48 billion, a PE ratio of -146.54, a price-to-earnings-growth ratio of 2.31 and a beta of 1.44. Sysco has a 1-year low of $50.90 and a 1-year high of $86.73. The stock has a fifty day simple moving average of $77.94.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 23rd. Shareholders of record on Friday, July 2nd will be paid a dividend of $0.47 per share. The ex-dividend date is Thursday, July 1st. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.57%. This is a positive change from Sysco's previous quarterly dividend of $0.45. Sysco's dividend payout ratio (DPR) is presently 93.53%.
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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