Sysco (SYY) Expected to Post Quarterly Sales of $14.39 Billion

Brokerages predict that Sysco (NYSE:SYY) will announce sales of $14.39 billion for the current fiscal quarter, according to Zacks. Three analysts have made estimates for Sysco’s earnings, with estimates ranging from $14.24 billion to $14.52 billion. Sysco posted sales of $13.52 billion during the same quarter last year, which suggests a positive year-over-year growth rate of 6.4%. The firm is expected to report its next quarterly earnings results on Monday, May 14th.

According to Zacks, analysts expect that Sysco will report full-year sales of $14.39 billion for the current financial year, with estimates ranging from $58.63 billion to $58.92 billion. For the next year, analysts anticipate that the business will post sales of $61.47 billion per share, with estimates ranging from $61.33 billion to $61.59 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research firms that that provide coverage for Sysco.

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Sysco (NYSE:SYY) last announced its earnings results on Monday, February 5th. The company reported $0.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.65 by $0.01. Sysco had a return on equity of 61.02% and a net margin of 2.10%. The firm had revenue of $14.41 billion for the quarter, compared to analyst estimates of $14.15 billion. During the same quarter last year, the firm posted $0.58 EPS. The business’s revenue was up 7.1% on a year-over-year basis.

A number of research analysts have recently issued reports on the company. Morgan Stanley upgraded Sysco from an “underweight” rating to an “equal weight” rating and set a $64.00 target price on the stock in a research report on Tuesday, January 16th. Citigroup increased their target price on Sysco from $60.00 to $63.00 and gave the company a “neutral” rating in a research report on Tuesday, March 27th. Jefferies Group set a $67.00 target price on Sysco and gave the company a “hold” rating in a research report on Monday, February 5th. BMO Capital Markets set a $74.00 target price on Sysco and gave the company a “buy” rating in a research report on Monday, February 5th. Finally, Loop Capital raised their price objective on Sysco from $68.00 to $72.00 and gave the company a “buy” rating in a report on Wednesday, January 31st. Eight analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $65.00.

Shares of NYSE:SYY traded down $0.59 during midday trading on Wednesday, reaching $59.72. 3,295,671 shares of the company’s stock traded hands, compared to its average volume of 3,411,221. Sysco has a 1 year low of $48.85 and a 1 year high of $64.27. The firm has a market capitalization of $31,476.92, a price-to-earnings ratio of 24.08, a price-to-earnings-growth ratio of 2.04 and a beta of 0.55. The company has a debt-to-equity ratio of 3.66, a current ratio of 1.38 and a quick ratio of 0.85.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 27th. Shareholders of record on Friday, April 6th will be issued a $0.36 dividend. The ex-dividend date of this dividend is Thursday, April 5th. This represents a $1.44 dividend on an annualized basis and a yield of 2.41%. Sysco’s payout ratio is currently 58.06%.

In other Sysco news, SVP Greg D. Bertrand sold 81,038 shares of the firm’s stock in a transaction on Wednesday, January 10th. The stock was sold at an average price of $60.76, for a total value of $4,923,868.88. Following the completion of the sale, the senior vice president now directly owns 69,721 shares of the company’s stock, valued at approximately $4,236,247.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Richard G. Tilghman sold 5,000 shares of the firm’s stock in a transaction on Thursday, March 15th. The stock was sold at an average price of $59.80, for a total value of $299,000.00. Following the completion of the sale, the director now directly owns 90,552 shares of the company’s stock, valued at $5,415,009.60. The disclosure for this sale can be found here. Insiders sold a total of 151,370 shares of company stock worth $9,203,507 in the last 90 days. 9.60% of the stock is currently owned by insiders.

Several institutional investors and hedge funds have recently modified their holdings of the business. Garde Capital Inc. increased its stake in shares of Sysco by 6.8% in the 4th quarter. Garde Capital Inc. now owns 15,373 shares of the company’s stock worth $934,000 after acquiring an additional 973 shares during the last quarter. Cambridge Investment Research Advisors Inc. increased its position in shares of Sysco by 6.8% during the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 65,788 shares of the company’s stock worth $3,995,000 after purchasing an additional 4,167 shares during the last quarter. D.B. Root & Company LLC acquired a new stake in shares of Sysco during the 4th quarter worth about $777,000. KCM Investment Advisors LLC increased its position in shares of Sysco by 9.9% during the 4th quarter. KCM Investment Advisors LLC now owns 17,072 shares of the company’s stock worth $1,037,000 after purchasing an additional 1,543 shares during the last quarter. Finally, Albion Financial Group UT increased its position in shares of Sysco by 3.1% during the 4th quarter. Albion Financial Group UT now owns 32,570 shares of the company’s stock worth $1,978,000 after purchasing an additional 984 shares during the last quarter. 79.03% of the stock is owned by institutional investors and hedge funds.

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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, Bahamas, Mexico, Costa Rica, Panama, the United Kingdom, France, Sweden, Ireland, Belgium, Spain, and Luxembourg.

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