Sysco Corporation (SYY) Issues Earnings Results

Sysco Corporation (NYSE:SYY) issued its quarterly earnings results on Monday, November 6th. The company reported $0.74 earnings per share for the quarter, topping the consensus estimate of $0.72 by $0.02, Bloomberg Earnings reports. The business had revenue of $14.65 billion during the quarter, compared to the consensus estimate of $14.43 billion. Sysco Corporation had a return on equity of 58.47% and a net margin of 2.12%. The company’s quarterly revenue was up 4.9% on a year-over-year basis. During the same quarter last year, the company earned $0.67 earnings per share.

Shares of Sysco Corporation (NYSE:SYY) opened at $54.93 on Wednesday. Sysco Corporation has a 1 year low of $48.85 and a 1 year high of $57.23. The company has a debt-to-equity ratio of 3.77, a current ratio of 1.40 and a quick ratio of 0.88. The stock has a market capitalization of $28,147.46, a PE ratio of 21.18, a P/E/G ratio of 2.42 and a beta of 0.53.

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A number of analysts have recently commented on the company. Jefferies Group LLC restated a “hold” rating and issued a $51.00 price objective on shares of Sysco Corporation in a research report on Friday, August 4th. Pivotal Research reiterated a “hold” rating and set a $53.00 price target on shares of Sysco Corporation in a research report on Sunday, November 5th. Royal Bank Of Canada set a $50.00 price objective on Sysco Corporation and gave the stock a “hold” rating in a research note on Friday, August 11th. Zacks Investment Research lowered Sysco Corporation from a “buy” rating to a “hold” rating in a research note on Wednesday, August 16th. Finally, BMO Capital Markets reissued an “outperform” rating on shares of Sysco Corporation in a research note on Tuesday, September 12th. Nine equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Sysco Corporation has an average rating of “Hold” and an average target price of $56.42.

In other Sysco Corporation news, insider Wayne Shurts sold 15,600 shares of the firm’s stock in a transaction on Thursday, August 24th. The stock was sold at an average price of $51.76, for a total transaction of $807,456.00. Following the completion of the transaction, the insider now owns 58,776 shares of the company’s stock, valued at $3,042,245.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO William J. Delaney III sold 30,000 shares of the firm’s stock in a transaction on Wednesday, August 23rd. The stock was sold at an average price of $51.31, for a total value of $1,539,300.00. Following the transaction, the chief executive officer now directly owns 406,725 shares of the company’s stock, valued at approximately $20,869,059.75. The disclosure for this sale can be found here. Insiders sold a total of 2,125,781 shares of company stock valued at $114,211,628 over the last three months. Insiders own 9.60% of the company’s stock.

About Sysco Corporation

Sysco Corporation (Sysco) is a distributor of food and related products primarily to the foodservice or food-away-from-home industry. The Company’s segments include Broadline, SYGMA and Other. The Broadline segment includes its Broadline operations located in the Bahamas, Canada, Costa Rica, Ireland, Mexico and the United States.

Earnings History for Sysco Corporation (NYSE:SYY)

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