SYSCO Co. (SYY) Expected to Post Earnings of $0.70 Per Share

Equities research analysts expect SYSCO Co. (NYSE:SYY) to report $0.70 earnings per share (EPS) for the current quarter, Zacks reports. Two analysts have made estimates for SYSCO’s earnings. The lowest EPS estimate is $0.67 and the highest is $0.72. SYSCO posted earnings per share of $0.67 during the same quarter last year, which would suggest a positive year over year growth rate of 4.5%. The company is expected to issue its next earnings results on Monday, May 6th.

According to Zacks, analysts expect that SYSCO will report full-year earnings of $3.40 per share for the current year, with EPS estimates ranging from $3.34 to $3.45. For the next year, analysts forecast that the company will report earnings of $3.76 per share, with EPS estimates ranging from $3.70 to $3.81. Zacks’ EPS calculations are a mean average based on a survey of sell-side research analysts that cover SYSCO.

SYSCO (NYSE:SYY) last released its earnings results on Monday, February 4th. The company reported $0.75 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.72 by $0.03. SYSCO had a return on equity of 71.45% and a net margin of 2.48%. The company had revenue of $14.80 billion during the quarter, compared to analysts’ expectations of $14.75 billion. During the same period last year, the firm earned $0.78 EPS. The business’s revenue for the quarter was up 2.8% on a year-over-year basis.

A number of brokerages have recently commented on SYY. Pivotal Research restated a “sell” rating and issued a $54.00 price target on shares of SYSCO in a report on Friday, February 1st. Zacks Investment Research upgraded SYSCO from a “hold” rating to a “buy” rating and set a $74.00 price target on the stock in a report on Tuesday, March 19th. Bank of America lowered SYSCO from a “buy” rating to a “neutral” rating and set a $68.00 price target on the stock. in a report on Wednesday, January 16th. Finally, Loop Capital set a $75.00 price target on SYSCO and gave the company a “buy” rating in a report on Tuesday, February 5th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the stock. SYSCO presently has an average rating of “Hold” and an average price target of $73.00.

In other SYSCO news, Director Trian Fund Management, L.P. sold 707,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $66.30, for a total transaction of $46,874,100.00. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Russell T. Libby sold 60,156 shares of the business’s stock in a transaction that occurred on Thursday, January 31st. The stock was sold at an average price of $63.40, for a total value of $3,813,890.40. Following the transaction, the insider now directly owns 62,597 shares in the company, valued at approximately $3,968,649.80. The disclosure for this sale can be found here. In the last ninety days, insiders sold 789,477 shares of company stock worth $52,157,382. 7.88% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. LVM Capital Management Ltd. MI boosted its holdings in shares of SYSCO by 1.4% during the first quarter. LVM Capital Management Ltd. MI now owns 11,284 shares of the company’s stock worth $753,000 after acquiring an additional 155 shares during the period. Whittier Trust Co. lifted its stake in SYSCO by 1.1% during the fourth quarter. Whittier Trust Co. now owns 14,950 shares of the company’s stock worth $936,000 after purchasing an additional 160 shares during the last quarter. Financial Counselors Inc. lifted its stake in SYSCO by 1.8% during the fourth quarter. Financial Counselors Inc. now owns 8,904 shares of the company’s stock worth $558,000 after purchasing an additional 161 shares during the last quarter. Valley National Advisers Inc. lifted its stake in SYSCO by 60.5% during the fourth quarter. Valley National Advisers Inc. now owns 472 shares of the company’s stock worth $30,000 after purchasing an additional 178 shares during the last quarter. Finally, First Manhattan Co. lifted its stake in SYSCO by 1.1% during the first quarter. First Manhattan Co. now owns 17,046 shares of the company’s stock worth $1,137,000 after purchasing an additional 189 shares during the last quarter. 80.19% of the stock is currently owned by hedge funds and other institutional investors.

SYY stock traded up $0.41 during midday trading on Friday, hitting $70.51. 101,561 shares of the company’s stock were exchanged, compared to its average volume of 2,248,803. The company has a current ratio of 1.25, a quick ratio of 0.76 and a debt-to-equity ratio of 3.70. The firm has a market cap of $35.99 billion, a PE ratio of 22.45, a P/E/G ratio of 1.99 and a beta of 0.54. SYSCO has a one year low of $59.44 and a one year high of $75.98.

The business also recently announced a quarterly dividend, which will be paid on Friday, April 26th. Investors of record on Friday, April 5th will be given a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a dividend yield of 2.21%. The ex-dividend date of this dividend is Thursday, April 4th. SYSCO’s dividend payout ratio is currently 49.68%.

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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