SYSCO (NYSE:SYY) released its earnings results on Monday. The company reported $0.98 EPS for the quarter, beating the consensus estimate of $0.97 by $0.01, RTT News reports. SYSCO had a net margin of 2.82% and a return on equity of 79.60%. The business had revenue of $15.30 billion during the quarter, compared to analyst estimates of $15.53 billion. During the same period in the prior year, the business earned $0.91 earnings per share. The business’s quarterly revenue was up .6% on a year-over-year basis.
SYSCO stock traded down $0.02 during trading hours on Thursday, hitting $81.04. The company had a trading volume of 565,450 shares, compared to its average volume of 2,387,489. The firm has a market capitalization of $41.38 billion, a P/E ratio of 22.83, a price-to-earnings-growth ratio of 2.22 and a beta of 0.48. The company has a debt-to-equity ratio of 3.74, a current ratio of 1.39 and a quick ratio of 0.81. The firm’s fifty day moving average is $79.07 and its 200-day moving average is $73.97. SYSCO has a fifty-two week low of $59.44 and a fifty-two week high of $81.60.
Several analysts recently commented on the stock. Wells Fargo & Co reissued a “buy” rating on shares of SYSCO in a research note on Monday, August 12th. BMO Capital Markets increased their target price on shares of SYSCO to $88.00 and gave the company an “outperform” rating in a research note on Tuesday. Loop Capital upped their price objective on shares of SYSCO to $86.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Consumer Edge started coverage on shares of SYSCO in a research note on Wednesday, July 17th. They issued an “underweight” rating and a $71.75 price objective on the stock. Finally, Barclays upped their price objective on shares of SYSCO from $70.00 to $71.00 and gave the company an “equal weight” rating in a research note on Tuesday, August 13th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and seven have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $77.40.
In other news, SVP Brian R. Todd sold 14,706 shares of the stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $78.99, for a total transaction of $1,161,626.94. Following the transaction, the senior vice president now owns 30,273 shares in the company, valued at approximately $2,391,264.27. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Thomas Bene sold 39,384 shares of the stock in a transaction on Monday, October 7th. The stock was sold at an average price of $78.12, for a total transaction of $3,076,678.08. Following the transaction, the chief executive officer now owns 132,929 shares in the company, valued at approximately $10,384,413.48. The disclosure for this sale can be found here. In the last quarter, insiders sold 182,277 shares of company stock worth $14,357,991. Company insiders own 5.24% of the company’s stock.
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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