$16.06 Billion in Sales Expected for Sysco Co. (NYSE:SYY) This Quarter

Analysts forecast that Sysco Co. (NYSE:SYYGet Rating) will announce sales of $16.06 billion for the current fiscal quarter, Zacks reports. Seven analysts have issued estimates for Sysco’s earnings, with the highest sales estimate coming in at $16.37 billion and the lowest estimate coming in at $15.24 billion. Sysco posted sales of $11.82 billion during the same quarter last year, which would indicate a positive year over year growth rate of 35.9%. The business is expected to announce its next quarterly earnings results before the market opens on Monday, January 1st.

On average, analysts expect that Sysco will report full-year sales of $66.91 billion for the current financial year, with estimates ranging from $65.85 billion to $71.06 billion. For the next year, analysts anticipate that the firm will report sales of $71.13 billion, with estimates ranging from $69.14 billion to $73.79 billion. Zacks’ sales averages are a mean average based on a survey of analysts that cover Sysco.

Sysco (NYSE:SYYGet Rating) last issued its quarterly earnings results on Tuesday, February 8th. The company reported $0.57 earnings per share for the quarter, missing the consensus estimate of $0.69 by ($0.12). Sysco had a return on equity of 82.36% and a net margin of 1.29%. The business had revenue of $16.32 billion during the quarter, compared to analysts’ expectations of $15.88 billion. During the same quarter in the previous year, the company posted $0.17 earnings per share. The company’s quarterly revenue was up 41.2% compared to the same quarter last year.

SYY has been the topic of several recent analyst reports. CL King initiated coverage on Sysco in a report on Friday, March 11th. They issued a “neutral” rating on the stock. Morgan Stanley increased their price target on Sysco from $85.00 to $86.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 9th. Deutsche Bank Aktiengesellschaft started coverage on Sysco in a research note on Tuesday, January 4th. They issued a “hold” rating and a $82.00 price objective on the stock. Argus raised Sysco from a “hold” rating to a “buy” rating and set a $95.00 price objective on the stock in a research note on Tuesday, February 22nd. Finally, StockNews.com started coverage on Sysco in a research note on Thursday, March 31st. They issued a “buy” rating on the stock. Four equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $88.89.

Shares of NYSE SYY opened at $88.80 on Monday. The company has a debt-to-equity ratio of 8.68, a quick ratio of 0.78 and a current ratio of 1.33. The business’s 50 day moving average price is $83.33 and its 200-day moving average price is $79.56. Sysco has a fifty-two week low of $68.05 and a fifty-two week high of $91.53. The company has a market cap of $45.52 billion, a price-to-earnings ratio of 58.42, a PEG ratio of 2.57 and a beta of 1.26.

The business also recently announced a quarterly dividend, which was paid on Friday, April 22nd. Shareholders of record on Friday, April 1st were given a dividend of $0.47 per share. The ex-dividend date of this dividend was Thursday, March 31st. This represents a $1.88 annualized dividend and a yield of 2.12%. Sysco’s dividend payout ratio (DPR) is presently 123.69%.

In other news, SVP James Chris Jasper sold 9,097 shares of the stock in a transaction on Wednesday, February 9th. The stock was sold at an average price of $83.00, for a total transaction of $755,051.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Sheila Talton sold 2,265 shares of the stock in a transaction on Thursday, February 10th. The shares were sold at an average price of $82.14, for a total value of $186,047.10. The disclosure for this sale can be found here. Insiders have sold a total of 236,400 shares of company stock worth $20,465,169 in the last ninety days. Insiders own 0.31% of the company’s stock.

A number of hedge funds have recently modified their holdings of SYY. EverSource Wealth Advisors LLC purchased a new position in shares of Sysco during the 4th quarter valued at about $25,000. DeDora Capital Inc. purchased a new position in shares of Sysco during the 1st quarter valued at about $31,000. Allegheny Financial Group LTD purchased a new position in shares of Sysco during the 4th quarter valued at about $31,000. KRS Capital Management LLC purchased a new position in shares of Sysco during the 4th quarter valued at about $31,000. Finally, Bell Investment Advisors Inc purchased a new position in shares of Sysco during the 3rd quarter valued at about $36,000. Institutional investors own 80.94% of the company’s stock.

Sysco Company Profile (Get Rating)

Sysco Corporation, through its subsidiaries, engages in the marketing and distribution of various 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 U.S. Foodservice Operations, International Foodservice Operations, SYGMA, and Other segments.

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