Sysco Corporation (NYSE:SYY) – Analysts at Jefferies Group decreased their Q3 2018 earnings per share estimates for Sysco in a research report issued on Thursday. Jefferies Group analyst C. Mandeville now forecasts that the company will post earnings per share of $0.56 for the quarter, down from their prior forecast of $0.58. Jefferies Group also issued estimates for Sysco’s Q1 2019 earnings at $0.79 EPS, Q3 2019 earnings at $0.64 EPS, Q4 2019 earnings at $0.89 EPS and FY2019 earnings at $3.02 EPS.

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

Several other equities research analysts have also recently commented on SYY. Zacks Investment Research cut Sysco from a “buy” rating to a “hold” rating in a research note on Wednesday, August 16th. BMO Capital Markets reaffirmed an “outperform” rating on shares of Sysco in a research note on Tuesday, September 12th. Pivotal Research reaffirmed a “hold” rating and set a $53.00 target price on shares of Sysco in a research note on Sunday, November 5th. Finally, Loop Capital raised their price objective on Sysco to $68.00 and gave the company a “buy” rating in a research note on Monday. Seven research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $58.55.

Sysco (SYY) traded down $0.14 during midday trading on Monday, reaching $61.84. The company had a trading volume of 2,543,600 shares, compared to its average volume of 2,903,734. Sysco has a fifty-two week low of $48.85 and a fifty-two week high of $62.79. The firm has a market capitalization of $32,295.07, a PE ratio of 24.31, a P/E/G ratio of 2.66 and a beta of 0.54. The company has a quick ratio of 0.88, a current ratio of 1.40 and a debt-to-equity ratio of 3.77.

Several hedge funds have recently bought and sold shares of the company. AXA lifted its holdings in shares of Sysco by 1.9% in the third quarter. AXA now owns 436,079 shares of the company’s stock valued at $23,527,000 after purchasing an additional 8,303 shares in the last quarter. Chicago Partners Investment Group LLC lifted its holdings in shares of Sysco by 637.5% in the third quarter. Chicago Partners Investment Group LLC now owns 5,900 shares of the company’s stock valued at $318,000 after purchasing an additional 5,100 shares in the last quarter. Steward Partners Investment Advisory LLC bought a new position in shares of Sysco in the third quarter valued at approximately $886,000. Visionary Asset Management Inc. bought a new position in shares of Sysco in the third quarter valued at approximately $207,000. Finally, Garde Capital Inc. bought a new position in shares of Sysco in the third quarter valued at approximately $777,000. Institutional investors own 80.22% of the company’s stock.

In other Sysco news, EVP Wayne Shurts sold 7,800 shares of the firm’s stock in a transaction that occurred on Tuesday, October 24th. The stock was sold at an average price of $54.86, for a total value of $427,908.00. Following the completion of the sale, the executive vice president now owns 58,776 shares of the company’s stock, valued at $3,224,451.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO William J. Delaney III sold 30,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 18th. The shares were sold at an average price of $54.71, for a total value of $1,641,300.00. Following the completion of the sale, the chief executive officer now directly owns 406,725 shares of the company’s stock, valued at approximately $22,251,924.75. The disclosure for this sale can be found here. Insiders sold 1,820,067 shares of company stock valued at $98,262,450 in the last three months. Insiders own 9.60% of the company’s stock.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 26th. Shareholders of record on Friday, January 5th will be paid a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 2.33%. The ex-dividend date is Thursday, January 4th. This is a boost from Sysco’s previous quarterly dividend of $0.33. Sysco’s dividend payout ratio (DPR) is 60.00%.

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About Sysco

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 and Estimates for Sysco (NYSE:SYY)

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