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.
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