Equities Analysts Issue Forecasts for Sysco Corporation’s Q3 2018 Earnings (SYY)
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.
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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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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