SYSCO Corporation (SYY) reported quarterly earnings results on Monday, May-2-2016. The company said it had a profit of $0.46 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.04. Analysts had a consensus of $0.42. The company posted revenue of $12002.00 million in the period, compared to analysts expectations of $11866.48 million. The company’s revenue was up 2.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.30 EPS.
Many Wall Street Analysts have commented on SYSCO Corporation. Argus Upgraded SYSCO Corporation on Feb 5, 2016 to ” Buy”, Price Target of the shares are set at $50.
SYSCO Corporation opened for trading at $46.42 and hit $46.68 on the upside on Wednesday, eventually ending the session at $46.41, with a gain of 0.24% or 0.11 points. The heightened volatility saw the trading volume jump to 23,84,832 shares. Company has a market cap of $26,203 M.
In a different news, on Apr 19, 2016, Hans-joachim Koerber (director) sold 10,000 shares at $46.49 per share price. According to the SEC, on Apr 19, 2016, William J Iii Delaney (Chief Executive Officer) sold 20,115 shares at $46.45 per share price. On Feb 3, 2016, Russell T. Libby (Executive Vice President) sold 4,000 shares at $42.00 per share price, according to the Form-4 filing with the securities and exchange commission.
Sysco Corporation (Sysco) along with its subsidiaries and divisions is a North American distributor of food and related products primarily to the foodservice or food-away-from-home industry. The Company provides products and related services to approximately 425000 customers including restaurants healthcare and educational facilities lodging establishments and other foodservice customers. Sysco provides food and related products to the foodservice or food-away-from-home industry. The Company has aggregated its operating companies into a number of segments of which only Broadline and SYGMA are the main segments. Broadline operating companies distribute a line of food products and a variety of non-food products to their customers. SYGMA operating companies distribute a line of food products and a variety of non-food products to chain restaurant customer locations. The Companys other segments include its specialty produce custom-cut meat and lodging industry products segments.