SYSCO Co. (NYSE:SYY) Expected to Announce Quarterly Sales of $15.56 Billion
Wall Street analysts expect SYSCO Co. (NYSE:SYY) to post sales of $15.56 billion for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for SYSCO’s earnings, with the highest sales estimate coming in at $15.57 billion and the lowest estimate coming in at $15.55 billion. SYSCO posted sales of $15.32 billion during the same quarter last year, which would indicate a positive year-over-year growth rate of 1.6%. The company is scheduled to announce its next earnings report before the market opens on Monday, August 12th.
According to Zacks, analysts expect that SYSCO will report full-year sales of $60.22 billion for the current financial year, with estimates ranging from $60.19 billion to $60.27 billion. For the next financial year, analysts anticipate that the company will report sales of $62.12 billion, with estimates ranging from $61.93 billion to $62.32 billion. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that that provide coverage for SYSCO.
SYSCO (NYSE:SYY) last announced its quarterly earnings data on Monday, May 6th. The company reported $0.79 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.70 by $0.09. SYSCO had a net margin of 2.65% and a return on equity of 73.66%. The company had revenue of $14.66 billion for the quarter, compared to analysts’ expectations of $14.78 billion. During the same quarter in the previous year, the company posted $0.67 EPS. The business’s revenue was up 2.1% compared to the same quarter last year.
Several large investors have recently added to or reduced their stakes in SYY. Norges Bank bought a new position in shares of SYSCO in the fourth quarter valued at approximately $299,789,000. FMR LLC raised its position in shares of SYSCO by 29.4% in the first quarter. FMR LLC now owns 5,749,922 shares of the company’s stock valued at $383,865,000 after purchasing an additional 1,306,410 shares during the period. Geode Capital Management LLC increased its position in SYSCO by 20.5% during the fourth quarter. Geode Capital Management LLC now owns 6,331,895 shares of the company’s stock worth $396,070,000 after acquiring an additional 1,076,459 shares during the period. Thoroughbred Financial Services LLC increased its position in SYSCO by 7,119.9% during the second quarter. Thoroughbred Financial Services LLC now owns 885,956 shares of the company’s stock worth $88,596,000 after acquiring an additional 873,685 shares during the period. Finally, Janus Henderson Group PLC increased its position in SYSCO by 8.7% during the first quarter. Janus Henderson Group PLC now owns 7,948,553 shares of the company’s stock worth $530,645,000 after acquiring an additional 633,041 shares during the period. 77.58% of the stock is currently owned by institutional investors.
Shares of SYY traded down $1.02 during midday trading on Friday, hitting $70.86. The stock had a trading volume of 1,390,028 shares, compared to its average volume of 2,020,898. SYSCO has a fifty-two week low of $59.44 and a fifty-two week high of $75.98. The stock’s 50-day moving average price is $71.37. The company has a market capitalization of $36.42 billion, a price-to-earnings ratio of 22.57, a P/E/G ratio of 1.89 and a beta of 0.53. The company has a current ratio of 1.30, a quick ratio of 0.79 and a debt-to-equity ratio of 3.44.
The company also recently declared a quarterly dividend, which will be paid on Friday, July 26th. Stockholders of record on Friday, July 5th will be given a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a dividend yield of 2.20%. The ex-dividend date is Wednesday, July 3rd. SYSCO’s dividend payout ratio is 49.68%.
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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