Jefferies Financial Group Comments on SYSCO Co.’s Q1 2020 Earnings (NYSE:SYY)

SYSCO Co. (NYSE:SYY) – Equities researchers at Jefferies Financial Group raised their Q1 2020 earnings per share (EPS) estimates for SYSCO in a note issued to investors on Monday, August 12th. Jefferies Financial Group analyst C. Mandeville now anticipates that the company will earn $0.99 per share for the quarter, up from their previous estimate of $0.97. Jefferies Financial Group also issued estimates for SYSCO’s Q2 2020 earnings at $0.86 EPS, Q1 2021 earnings at $1.07 EPS, Q2 2021 earnings at $0.92 EPS, Q3 2021 earnings at $0.89 EPS, Q4 2021 earnings at $1.37 EPS, FY2021 earnings at $4.25 EPS, FY2022 earnings at $4.38 EPS, FY2023 earnings at $4.66 EPS and FY2024 earnings at $4.95 EPS.

SYSCO (NYSE:SYY) last posted its quarterly earnings data on Monday, August 12th. The company reported $1.10 EPS for the quarter, topping the consensus estimate of $1.07 by $0.03. The firm had revenue of $15.47 billion during the quarter, compared to analyst estimates of $15.65 billion. SYSCO had a return on equity of 77.71% and a net margin of 2.79%. SYSCO’s revenue was up 1.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.94 EPS.

A number of other equities research analysts have also issued reports on the company. Barclays increased their price target on SYSCO from $70.00 to $71.00 and gave the stock an “equal weight” rating in a research note on Tuesday. Buckingham Research increased their price target on SYSCO from $82.00 to $84.00 and gave the stock a “buy” rating in a research note on Tuesday, May 7th. Wells Fargo & Co reiterated a “buy” rating on shares of SYSCO in a research note on Monday. Loop Capital increased their price target on SYSCO to $80.00 and gave the stock a “buy” rating in a research note on Wednesday, May 8th. Finally, JPMorgan Chase & Co. increased their price target on SYSCO from $75.00 to $80.00 and gave the stock an “overweight” rating in a research note on Tuesday. Two research analysts have rated the stock with a sell rating, six have given a hold rating and eight have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $74.48.

NYSE:SYY opened at $72.25 on Wednesday. The company has a debt-to-equity ratio of 3.44, a current ratio of 1.30 and a quick ratio of 0.79. The firm has a market capitalization of $37.10 billion, a price-to-earnings ratio of 20.35, a price-to-earnings-growth ratio of 1.92 and a beta of 0.52. SYSCO has a one year low of $59.44 and a one year high of $75.98. The business has a fifty day moving average price of $70.90 and a 200-day moving average price of $69.65.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Friday, October 4th will be given a dividend of $0.39 per share. The ex-dividend date of this dividend is Thursday, October 3rd. This represents a $1.56 dividend on an annualized basis and a dividend yield of 2.16%. SYSCO’s payout ratio is 43.94%.

Several institutional investors have recently modified their holdings of SYY. Dimensional Fund Advisors LP boosted its holdings in SYSCO by 4.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,401,640 shares of the company’s stock worth $87,825,000 after buying an additional 54,838 shares during the last quarter. Geode Capital Management LLC boosted its holdings in SYSCO by 20.5% during the fourth quarter. Geode Capital Management LLC now owns 6,331,895 shares of the company’s stock worth $396,070,000 after buying an additional 1,076,459 shares during the last quarter. First Manhattan Co. boosted its holdings 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 buying an additional 189 shares during the last quarter. WP Advisors LLC bought a new position in SYSCO during the first quarter worth about $39,000. Finally, Quantitative Systematic Strategies LLC bought a new position in SYSCO during the first quarter worth about $896,000. Hedge funds and other institutional investors own 78.30% of the company’s stock.

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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