FY2022 Earnings Estimate for Sysco Co. (NYSE:SYY) Issued By Jefferies Financial Group

Sysco Co. (NYSE:SYY – Get Rating) – Stock analysts at Jefferies Financial Group boosted their FY2022 earnings per share (EPS) estimates for Sysco in a research note issued to investors on Tuesday, May 10th. Jefferies Financial Group analyst A. Slagle now anticipates that the company will post earnings per share of $3.25 for the year, up from their prior estimate of $3.02. Jefferies Financial Group also issued estimates for Sysco’s Q4 2022 earnings at $1.14 EPS, Q2 2023 earnings at $0.90 EPS, Q3 2023 earnings at $0.95 EPS, Q4 2023 earnings at $1.33 EPS and FY2023 earnings at $4.28 EPS.

Sysco (NYSE:SYY – Get Rating) last issued its earnings results on Tuesday, May 10th. The company reported $0.71 earnings per share for the quarter, topping the consensus estimate of $0.55 by $0.16. The business had revenue of $16.90 billion for the quarter, compared to analyst estimates of $15.99 billion. Sysco had a return on equity of 100.62% and a net margin of 1.52%. The business’s quarterly revenue was up 42.9% on a year-over-year basis. During the same quarter last year, the company earned $0.22 EPS.

SYY has been the topic of a number of other reports. Morgan Stanley increased their target price on shares of Sysco from $86.00 to $94.00 in a research report on Wednesday. Piper Sandler lifted their target price on Sysco from $83.00 to $90.00 and gave the stock an “overweight” rating in a research report on Friday, April 8th. Barclays upped their target price on Sysco from $90.00 to $100.00 and gave the company an “overweight” rating in a research report on Monday, April 25th. Truist Financial initiated coverage on Sysco in a research note on Tuesday, February 1st. They issued a “buy” rating and a $89.00 price objective for the company. Finally, StockNews.com upgraded shares of Sysco from a “buy” rating to a “strong-buy” rating in a research report on Wednesday. Four analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Sysco currently has a consensus rating of “Buy” and a consensus target price of $92.89.

SYY stock opened at $82.61 on Friday. The stock has a market cap of $42.35 billion, a P/E ratio of 42.58, a PEG ratio of 2.44 and a beta of 1.14. The company has a current ratio of 1.24, a quick ratio of 0.78 and a debt-to-equity ratio of 8.03. Sysco has a twelve month low of $68.05 and a twelve month high of $91.53. The company’s 50 day moving average is $83.34 and its two-hundred day moving average is $80.00.

Hedge funds have recently added to or reduced their stakes in the company. North Star Asset Management Inc. lifted its stake in Sysco by 0.8% in the 4th quarter. North Star Asset Management Inc. now owns 117,345 shares of the company’s stock valued at $9,218,000 after buying an additional 970 shares in the last quarter. National Pension Service lifted its position in shares of Sysco by 8.5% in the third quarter. National Pension Service now owns 747,330 shares of the company’s stock valued at $58,665,000 after acquiring an additional 58,309 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich boosted its stake in shares of Sysco by 25.9% during the third quarter. Bank Julius Baer & Co. Ltd Zurich now owns 79,979 shares of the company’s stock valued at $6,278,000 after acquiring an additional 16,442 shares during the last quarter. BNP Paribas Arbitrage SA increased its position in Sysco by 144.6% during the 3rd quarter. BNP Paribas Arbitrage SA now owns 393,052 shares of the company’s stock worth $30,855,000 after purchasing an additional 232,378 shares in the last quarter. Finally, Commonwealth Equity Services LLC increased its position in Sysco by 2.6% during the 4th quarter. Commonwealth Equity Services LLC now owns 328,003 shares of the company’s stock worth $25,764,000 after purchasing an additional 8,164 shares in the last quarter. Institutional investors and hedge funds own 80.64% of the company’s stock.

In related news, CAO Anita A. Zielinski sold 7,221 shares of the business’s stock in a transaction dated Wednesday, February 16th. The shares were sold at an average price of $85.00, for a total value of $613,785.00. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Greg D. Bertrand sold 800 shares of the firm’s stock in a transaction dated Wednesday, March 16th. The shares were sold at an average price of $78.30, for a total transaction of $62,640.00. The disclosure for this sale can be found here. Insiders have sold 221,427 shares of company stock worth $19,220,747 over the last 90 days. 0.31% of the stock is currently owned by company insiders.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 22nd. Investors of record on Friday, July 1st will be issued a dividend of $0.49 per share. The ex-dividend date is Thursday, June 30th. This represents a $1.96 dividend on an annualized basis and a yield of 2.37%. This is an increase from Sysco’s previous quarterly dividend of $0.47. Sysco’s payout ratio is currently 96.91%.

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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