Sysco (NYSE:SYY) Announces Quarterly Earnings Results

Sysco (NYSE:SYY) issued its quarterly earnings results on Tuesday. The company reported $0.99 EPS for the quarter, beating analysts’ consensus estimates of $0.98 by $0.01, Zacks reports. Sysco had a net margin of 2.21% and a return on equity of 112.04%. Sysco’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.93 EPS.

Sysco Price Performance

SYY opened at $75.67 on Tuesday. The company has a debt-to-equity ratio of 5.54, a quick ratio of 0.65 and a current ratio of 1.15. Sysco has a 52-week low of $67.12 and a 52-week high of $83.47. The stock has a market capitalization of $36.23 billion, a PE ratio of 20.29, a price-to-earnings-growth ratio of 2.51 and a beta of 0.61. The stock’s 50 day moving average price is $74.98 and its 200-day moving average price is $77.73.

Sysco Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 23rd. Stockholders of record on Friday, January 2nd were given a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date was Friday, January 2nd. Sysco’s dividend payout ratio (DPR) is currently 57.91%.

Analyst Upgrades and Downgrades

SYY has been the topic of several recent research reports. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Sysco in a report on Monday, December 29th. Barclays lifted their price objective on Sysco from $86.00 to $88.00 and gave the stock an “overweight” rating in a report on Wednesday, January 7th. Guggenheim increased their target price on Sysco from $87.00 to $89.00 and gave the company a “buy” rating in a report on Monday, October 6th. Wall Street Zen cut Sysco from a “buy” rating to a “hold” rating in a research note on Saturday, October 25th. Finally, Morgan Stanley lowered their price objective on Sysco from $88.00 to $85.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 20th. Eight investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $85.75.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in SYY. Equitable Holdings Inc. raised its holdings in Sysco by 4.2% in the 3rd quarter. Equitable Holdings Inc. now owns 4,520 shares of the company’s stock worth $372,000 after purchasing an additional 183 shares in the last quarter. Integrated Wealth Concepts LLC boosted its stake in shares of Sysco by 1.7% during the 3rd quarter. Integrated Wealth Concepts LLC now owns 12,003 shares of the company’s stock valued at $988,000 after purchasing an additional 195 shares in the last quarter. Lido Advisors LLC increased its position in shares of Sysco by 1.7% during the third quarter. Lido Advisors LLC now owns 13,354 shares of the company’s stock valued at $1,100,000 after buying an additional 227 shares during the period. Johnson Financial Group Inc. raised its stake in Sysco by 70.7% in the third quarter. Johnson Financial Group Inc. now owns 565 shares of the company’s stock worth $47,000 after buying an additional 234 shares in the last quarter. Finally, Brown Financial Advisors lifted its holdings in Sysco by 3.9% in the second quarter. Brown Financial Advisors now owns 6,417 shares of the company’s stock worth $486,000 after buying an additional 242 shares during the period. 83.41% of the stock is owned by hedge funds and other institutional investors.

About Sysco

Sysco Corporation (NYSE: SYY) is a global foodservice distribution company that supplies a broad range of food and related products to restaurants, healthcare and educational facilities, lodging establishments, and other foodservice customers. Its core business is the procurement, warehousing and delivery of fresh, frozen and dry food products, complemented by non-food items such as paper goods, kitchen equipment, cleaning supplies and tabletop products. Sysco serves customers through an extensive network of distribution centers and dedicated delivery fleets, positioning itself as a one-stop supplier for operators of all sizes.

Founded in 1969 and headquartered in Houston, Texas, Sysco has grown through both organic expansion and acquisitions.