SYSCO (NYSE:SYY) Releases Quarterly Earnings Results

SYSCO (NYSE:SYY) released its quarterly earnings results on Monday. The company reported $1.10 earnings per share for the quarter, beating the consensus estimate of $1.07 by $0.03, Briefing.com reports. SYSCO had a return on equity of 73.66% and a net margin of 2.65%. The firm had revenue of $15.47 billion for the quarter, compared to analysts’ expectations of $15.65 billion. During the same quarter last year, the firm posted $0.94 EPS. The company’s revenue was up 1.0% compared to the same quarter last year.

Shares of SYSCO stock traded up $2.31 during trading on Monday, hitting $72.30. 1,974,574 shares of the stock traded hands, compared to its average volume of 2,794,743. The company has a debt-to-equity ratio of 3.44, a quick ratio of 0.79 and a current ratio of 1.30. The company has a market capitalization of $36.30 billion, a PE ratio of 23.03, a price-to-earnings-growth ratio of 1.88 and a beta of 0.52. The business has a fifty day simple moving average of $70.80. SYSCO has a 52 week low of $59.44 and a 52 week high of $75.98.

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 annualized dividend and a dividend yield of 2.16%. SYSCO’s dividend payout ratio (DPR) is presently 49.68%.

Several brokerages have recently commented on SYY. Consumer Edge began coverage on SYSCO in a research report on Wednesday, July 17th. They set an “underweight” rating and a $71.75 price objective on the stock. Pivotal Research reiterated a “sell” rating and set a $58.00 price objective (up from $54.00) on shares of SYSCO in a research report on Tuesday, May 7th. Buckingham Research increased their price objective on SYSCO from $82.00 to $84.00 and gave the company a “buy” rating in a research report on Tuesday, May 7th. JPMorgan Chase & Co. reduced their price objective on SYSCO from $77.00 to $75.00 and set an “overweight” rating on the stock in a research report on Tuesday, June 4th. Finally, Morgan Stanley increased their price objective on SYSCO from $69.00 to $72.00 and gave the company an “equal weight” rating in a research report on Tuesday, May 7th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and seven have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $73.63.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Advisors Preferred LLC bought a new position in SYSCO during the 1st quarter worth approximately $26,000. SRS Capital Advisors Inc. bought a new stake in shares of SYSCO in the 2nd quarter worth approximately $28,000. Coastal Capital Group Inc. bought a new stake in shares of SYSCO in the 2nd quarter worth approximately $29,000. Lenox Wealth Management Inc. grew its position in shares of SYSCO by 163.7% in the 1st quarter. Lenox Wealth Management Inc. now owns 480 shares of the company’s stock worth $32,000 after buying an additional 298 shares during the last quarter. Finally, FinTrust Capital Advisors LLC grew its position in shares of SYSCO by 55.2% in the 2nd quarter. FinTrust Capital Advisors LLC now owns 523 shares of the company’s stock worth $37,000 after buying an additional 186 shares during the last quarter. Institutional investors and hedge funds own 77.71% of the company’s stock.

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. 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 for SYSCO (NYSE:SYY)

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