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%.

Several analysts recently weighed in on SYY shares. Zacks Investment Research upgraded SYSCO from a “hold” rating to a “buy” rating and set a $60.00 target price for the company in a research note on Tuesday, October 10th. Pivotal Research decreased their target price on SYSCO from $68.00 to $61.00 and set a “buy” rating for the company in a research note on Tuesday. Loop Capital increased their target price on SYSCO to $68.00 and gave the company a “buy” rating in a research note on Monday, December 11th. BMO Capital Markets set a $66.00 target price on SYSCO and gave the company a “buy” rating in a research note on Friday, December 8th. Finally, Bank of America increased their target price on SYSCO from $68.00 to $70.00 and gave the company a “buy” rating in a research note on Tuesday. Seven research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $64.27.

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.

COPYRIGHT VIOLATION NOTICE: “SYSCO (SYY) Posts Quarterly Earnings Results, Beats Expectations By $0.01 EPS” was originally published by Watch List News and is owned by of Watch List News. If you are accessing this piece of content on another publication, it was stolen and reposted in violation of US & international trademark and copyright laws. The original version of this piece of content can be viewed at https://www.watchlistnews.com/sysco-syy-posts-quarterly-earnings-results-beats-expectations-by-0-01-eps/1850247.html.

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 for SYSCO (NYSE:SYY)

Receive News & Ratings for SYSCO Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SYSCO and related companies with MarketBeat.com's FREE daily email newsletter.