SYSCO (SYY) Posts Quarterly Earnings Results, Misses Expectations By $0.01 EPS

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SYSCO (NYSE:SYY) issued its earnings results on Monday. The company reported $0.91 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.92 by ($0.01), MarketWatch Earnings reports. The firm had revenue of $15.22 billion during the quarter, compared to analyst estimates of $15.39 billion. SYSCO had a net margin of 2.44% and a return on equity of 68.15%. The business’s quarterly revenue was up 3.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.74 earnings per share.

SYY stock traded up $0.53 during mid-day trading on Wednesday, reaching $64.98. 237,599 shares of the company traded hands, compared to its average volume of 2,381,205. The company has a market capitalization of $37.12 billion, a P/E ratio of 20.69, a price-to-earnings-growth ratio of 1.93 and a beta of 0.56. The company has a debt-to-equity ratio of 3.01, a quick ratio of 0.74 and a current ratio of 1.21. SYSCO has a fifty-two week low of $52.30 and a fifty-two week high of $75.98.

Several analysts have recently commented on the company. ValuEngine downgraded SYSCO from a “buy” rating to a “hold” rating in a research note on Tuesday. BMO Capital Markets set a $79.00 price target on SYSCO and gave the company a “buy” rating in a research note on Tuesday. Loop Capital set a $75.00 price target on SYSCO and gave the company a “buy” rating in a research note on Tuesday. They noted that the move was a valuation call. Royal Bank of Canada cut their price target on SYSCO from $67.00 to $65.00 and set a “sector perform” rating for the company in a research note on Tuesday. Finally, Credit Suisse Group set a $75.00 price target on SYSCO and gave the company a “buy” rating in a research note on Tuesday. One analyst has rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $73.15.

In other SYSCO news, Director Richard G. Tilghman sold 5,000 shares of SYSCO stock in a transaction that occurred on Monday, October 15th. The shares were sold at an average price of $68.62, for a total transaction of $343,100.00. Following the transaction, the director now owns 56,393 shares of the company’s stock, valued at approximately $3,869,687.66. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Trian Fund Management, L.P. sold 2,115,358 shares of SYSCO 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 transaction, the director now directly owns 4,005 shares in the company, valued at approximately $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 valued at $297,370,093 in the last quarter. Company insiders own 7.88% of the company’s stock.

Several institutional investors have recently bought and sold shares of the business. Sumitomo Mitsui Trust Holdings Inc. lifted its position in shares of SYSCO by 1.8% during the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,686,423 shares of the company’s stock worth $123,530,000 after buying an additional 29,936 shares in the last quarter. Allen Investment Management LLC lifted its position in shares of SYSCO by 1.2% during the 3rd quarter. Allen Investment Management LLC now owns 1,155,912 shares of the company’s stock worth $84,671,000 after buying an additional 14,036 shares in the last quarter. SG Americas Securities LLC lifted its position in shares of SYSCO by 73.0% during the 3rd quarter. SG Americas Securities LLC now owns 212,481 shares of the company’s stock worth $15,564,000 after buying an additional 89,680 shares in the last quarter. LSV Asset Management bought a new position in shares of SYSCO during the 3rd quarter worth approximately $213,000. Finally, Parametrica Management Ltd bought a new position in shares of SYSCO during the 3rd quarter worth approximately $323,000. 80.11% of the stock is currently owned by hedge funds and other institutional investors.

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About SYSCO

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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