$0.92 Earnings Per Share Expected for SYSCO Co. (SYY) This Quarter

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Wall Street analysts forecast that SYSCO Co. (NYSE:SYY) will announce $0.92 earnings per share (EPS) for the current quarter, according to Zacks. Two analysts have made estimates for SYSCO’s earnings, with the lowest EPS estimate coming in at $0.90 and the highest estimate coming in at $0.94. SYSCO posted earnings per share of $0.74 during the same quarter last year, which would indicate a positive year-over-year growth rate of 24.3%. The company is expected to issue its next quarterly earnings report before the market opens on Monday, November 5th.

On average, analysts expect that SYSCO will report full year earnings of $3.49 per share for the current fiscal year, with EPS estimates ranging from $3.45 to $3.54. For the next fiscal year, analysts expect that the firm will post earnings of $3.89 per share, with EPS estimates ranging from $3.85 to $3.95. Zacks Investment Research’s EPS calculations are a mean average based on a survey of analysts that that provide coverage for SYSCO.

SYSCO (NYSE:SYY) last announced its quarterly earnings data on Monday, August 13th. The company reported $0.94 EPS for the quarter, topping the Zacks’ consensus estimate of $0.93 by $0.01. The company had revenue of $15.32 billion during the quarter, compared to the consensus estimate of $15.30 billion. SYSCO had a net margin of 2.44% and a return on equity of 68.15%. SYSCO’s quarterly revenue was up 6.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.72 EPS.

SYY has been the subject of a number of research analyst reports. Wells Fargo & Co increased their price target on shares of SYSCO from $71.00 to $80.00 and gave the company a “$70.32” rating in a report on Wednesday, July 18th. They noted that the move was a valuation call. ValuEngine upgraded shares of SYSCO from a “hold” rating to a “buy” rating in a report on Monday, August 13th. Argus increased their price target on shares of SYSCO from $67.00 to $86.00 and gave the company a “buy” rating in a report on Thursday, August 16th. Morgan Stanley raised their target price on shares of SYSCO from $61.00 to $67.00 and gave the company an “equal weight” rating in a report on Tuesday, July 17th. Finally, Pivotal Research cut shares of SYSCO from a “hold” rating to a “sell” rating and set a $58.00 price target on the stock. in a research note on Friday, August 10th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $72.42.

In related news, SVP Brian R. Todd sold 9,147 shares of the firm’s stock in a transaction that occurred on Wednesday, August 15th. The shares were sold at an average price of $73.82, for a total value of $675,231.54. Following the sale, the senior vice president now directly owns 11,747 shares of the company’s stock, valued at $867,163.54. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Trian Fund Management, L.P. sold 2,115,358 shares of the firm’s stock in a transaction that occurred on Wednesday, September 12th. The stock was sold at an average price of $74.81, for a total transaction of $158,249,931.98. Following the completion of the sale, the director now directly owns 4,005 shares in the company, valued at $299,614.05. The disclosure for this sale can be found here. Insiders have sold a total of 3,969,811 shares of company stock worth $297,380,043 over the last ninety days. 9.60% of the stock is owned by corporate insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Blue Chip Partners Inc. acquired a new stake in shares of SYSCO in the second quarter worth approximately $104,000. Quad Cities Investment Group LLC acquired a new stake in shares of SYSCO in the second quarter worth approximately $111,000. Flagship Harbor Advisors LLC acquired a new stake in shares of SYSCO in the second quarter worth approximately $121,000. Daiwa SB Investments Ltd. acquired a new stake in shares of SYSCO in the third quarter worth approximately $132,000. Finally, Fort L.P. acquired a new stake in shares of SYSCO in the second quarter worth approximately $123,000. 80.22% of the stock is currently owned by institutional investors and hedge funds.

Shares of SYY traded up $0.33 during trading hours on Monday, reaching $68.82. The company had a trading volume of 2,147,497 shares, compared to its average volume of 2,697,732. The company has a quick ratio of 0.74, a current ratio of 1.21 and a debt-to-equity ratio of 3.01. The company has a market capitalization of $38.07 billion, a PE ratio of 21.92, a P/E/G ratio of 1.98 and a beta of 0.56. SYSCO has a 12-month low of $52.30 and a 12-month high of $75.98.

The company also recently declared a quarterly dividend, which will be paid on Friday, October 26th. Shareholders of record on Friday, October 5th will be paid a dividend of $0.36 per share. The ex-dividend date is Thursday, October 4th. This represents a $1.44 annualized dividend and a dividend yield of 2.09%. SYSCO’s dividend payout ratio is currently 45.86%.

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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