SYSCO Corporation (SYY) Releases Earnings Results, Beats Expectations By $0.04 EPS

SYSCO Corporation (SYY) reported quarterly earnings results on Monday, Aug-15-2016. The company said it had a profit of $0.64 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 $0.60. The company posted revenue of $13648.00 million in the period, compared to analysts expectations of $13677.60 million. The company’s revenue was up 10.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.52 EPS.

Many Wall Street Analysts have commented on SYSCO Corporation. Deutsche Bank Resumed SYSCO Corporation on Jul 18, 2016 to “Hold”, Price Target of the shares are set at $52.BofA/Merrill Initiated SYSCO Corporation on Jun 20, 2016 to “Neutral”, Price Target of the shares are set at $52.

SYSCO Corporation opened for trading at $51.82 and hit $52.26 on the upside on Friday, eventually ending the session at $52.21, with a gain of 0.87% or 0.45 points. The heightened volatility saw the trading volume jump to 34,92,024 shares. Company has a market cap of $29,421 M.

In a different news, on Aug 5, 2016, William B. Day (Executive Vice President) sold 75,000 shares at $51.53 per share price. According to the SEC, on Jul 19, 2016, William J Iii Delaney (Chief Executive Officer) sold 20,114 shares at $51.96 per share price. On Jul 15, 2016, Joel T. Grade (EVP and CFO) sold 16,368 shares at $52.01 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 Company’s other segments include its specialty produce custom-cut meat and lodging industry products segments.

SYSCO Corporation

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