SYSCO (SYY) Posts Quarterly Earnings Results, Beats Expectations By $0.01 EPS
SYSCO (NYSE:SYY) released its quarterly earnings results on Monday. The company reported $0.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.65 by $0.01, Morningstar.com reports. SYSCO had a return on equity of 60.71% and a net margin of 2.10%. The company had revenue of $14.41 billion during the quarter, compared to the consensus estimate of $14.15 billion. During the same quarter in the prior year, the company posted $0.58 EPS. The firm’s revenue was up 7.1% on a year-over-year basis.
SYSCO (NYSE:SYY) opened at $59.64 on Wednesday. The company has a quick ratio of 0.88, a current ratio of 1.40 and a debt-to-equity ratio of 3.77. The company has a market capitalization of $29,950.31, a P/E ratio of 21.86, a price-to-earnings-growth ratio of 2.21 and a beta of 0.56. SYSCO has a twelve month low of $48.85 and a twelve month high of $64.27.
The company also recently declared a quarterly dividend, which was paid on Friday, January 26th. Shareholders of record on Friday, January 5th were issued a $0.36 dividend. This is a boost from SYSCO’s previous quarterly dividend of $0.33. The ex-dividend date was Thursday, January 4th. This represents a $1.44 annualized dividend and a yield of 2.41%. SYSCO’s dividend payout ratio is 64.29%.
In other SYSCO news, SVP William W. Goetz sold 11,323 shares of the company’s stock in a transaction that occurred on Tuesday, January 16th. The stock was sold at an average price of $62.00, for a total value of $702,026.00. Following the completion of the transaction, the senior vice president now owns 35,825 shares of the company’s stock, valued at approximately $2,221,150. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO William J. Delaney III sold 150,000 shares of the company’s stock in a transaction that occurred on Monday, November 13th. The shares were sold at an average price of $54.05, for a total value of $8,107,500.00. Following the completion of the transaction, the chief executive officer now directly owns 526,725 shares of the company’s stock, valued at approximately $28,469,486.25. The disclosure for this sale can be found here. In the last ninety days, insiders sold 294,695 shares of company stock valued at $16,866,723. Insiders own 9.60% of the company’s stock.
A number of institutional investors have recently bought and sold shares of SYY. Thrivent Financial For Lutherans raised its holdings in SYSCO by 3.8% in the 2nd quarter. Thrivent Financial For Lutherans now owns 19,488 shares of the company’s stock valued at $981,000 after acquiring an additional 708 shares in the last quarter. FMR LLC raised its holdings in shares of SYSCO by 11.2% in the 2nd quarter. FMR LLC now owns 5,286,933 shares of the company’s stock worth $266,092,000 after buying an additional 532,486 shares in the last quarter. TIAA FSB acquired a new position in shares of SYSCO in the 2nd quarter worth approximately $2,449,000. MML Investors Services LLC raised its holdings in shares of SYSCO by 0.9% in the 2nd quarter. MML Investors Services LLC now owns 13,403 shares of the company’s stock worth $675,000 after buying an additional 120 shares in the last quarter. Finally, FIL Ltd acquired a new position in shares of SYSCO in the 2nd quarter worth approximately $16,301,000. 80.09% of the stock is owned by hedge funds and other institutional investors.
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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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