SYSCO (NYSE:SYY) posted its earnings results on Monday, May 6th. The company reported $0.79 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.70 by $0.09, MarketWatch Earnings reports. SYSCO had a return on equity of 73.66% and a net margin of 2.65%. The business had revenue of $14.66 billion during the quarter, compared to analysts’ expectations of $14.78 billion. During the same period in the previous year, the business earned $0.67 earnings per share. The firm’s revenue was up 2.1% on a year-over-year basis.
SYSCO stock traded up $0.13 during trading on Thursday, reaching $74.52. The company had a trading volume of 1,952,461 shares, compared to its average volume of 2,199,606. SYSCO has a 52 week low of $59.44 and a 52 week high of $75.98. The stock has a market cap of $38.43 billion, a P/E ratio of 23.73, a P/E/G ratio of 2.14 and a beta of 0.55. 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 business also recently announced a quarterly dividend, which will be paid on Friday, July 26th. Investors of record on Friday, July 5th will be issued a $0.39 dividend. The ex-dividend date is Wednesday, July 3rd. This represents a $1.56 dividend on an annualized basis and a yield of 2.09%. SYSCO’s dividend payout ratio is currently 49.68%.
Several institutional investors have recently modified their holdings of SYY. Marshall Wace North America L.P. purchased a new position in SYSCO in the first quarter worth about $5,336,000. Marshall Wace LLP bought a new stake in SYSCO in the first quarter worth about $12,039,000. Clearbridge Investments LLC lifted its stake in SYSCO by 1.7% in the first quarter. Clearbridge Investments LLC now owns 2,767,955 shares of the company’s stock worth $184,789,000 after purchasing an additional 45,052 shares during the last quarter. GYL Financial Synergies LLC bought a new stake in SYSCO in the first quarter worth about $298,000. Finally, Lowe Brockenbrough & Co. Inc. lifted its stake in SYSCO by 0.4% in the first quarter. Lowe Brockenbrough & Co. Inc. now owns 60,187 shares of the company’s stock worth $4,018,000 after purchasing an additional 261 shares during the last quarter. Hedge funds and other institutional investors own 77.70% of the company’s stock.
A number of research analysts have commented on SYY shares. Pivotal Research reaffirmed a “sell” rating and set a $54.00 price target on shares of SYSCO in a research report on Friday, February 1st. Buckingham Research upped their target price on SYSCO from $82.00 to $84.00 and gave the stock a “buy” rating in a report on Tuesday, May 7th. Loop Capital set a $75.00 target price on SYSCO and gave the stock a “buy” rating in a report on Tuesday, February 5th. Zacks Investment Research upgraded SYSCO from a “hold” rating to a “buy” rating and set a $74.00 target price on the stock in a report on Tuesday, March 19th. Finally, Morgan Stanley upped their price target on SYSCO from $69.00 to $72.00 and gave the stock an “equal weight” rating in a research note on Tuesday, May 7th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the company’s stock. SYSCO currently has an average rating of “Hold” and a consensus target price of $74.46.
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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. 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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