Dernières nouvelles pour Sysco (NYSE:SYY) Stock

Sysco

Sysco is the largest US foodservice distributor with 17% share of the highly fragmented $370 billion domestic market. It distributes roughly 500,000 food and nonfood products to restaurants (62% of fiscal 2024 revenue), education and government buildings (7%), travel and leisure (6%), healthcare facilities (7%), and other locations (18%) where individuals consume away-from-home meals. In fiscal 2024, 70% of the firm's revenue was derived from its US foodservice operations, while its international (18%), quick-service logistics (10%), and other (2%) segments contributed the rest.

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Jefferies analyst Adam Samuelson maintains Sysco (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SYY#NYSE">SYY</a>) with a Buy and raises the price target from $91 to $92.

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Jefferies Maintains Buy on Sysco, Raises Price Target to $92

Trading Ideas

Watching Shares Of Sysco; Shares Seeing Volume As Company Presenting At Wells Fargo 7th Annual Consumer Conference

Ratings for Sysco (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SYY#NYSE">SYY</a>) were provided by 5 analysts in the past three months, showcasing a mix of bullish and bearish perspectives.
The following table encapsulates their recent ratings, offering a glimpse into the evolving sentiments over the past 30 days and comparing them to the preceding months.
<table>
<thead>
<tr>
<th></th>
<th style="text-align: right;">Bullish</th>
<th style="text-align: right;">Somewhat Bullish</th>
<th style="text-align: right;">Indifferent</th>
<th style="text-align: right;">Somewhat Bearish</th>
<th style="text-align: right;">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>
Analysts have recently evaluated Sysco and provided 12-month price targets. The average target is $85.8, accompanied by a high estimate of $88.00 and a low estimate of $81.00. A 0.23% drop is evident in the current average compared to the previous average price target of $86.00. 
<img src="https://www.benzinga.com/files/images/story/2024/1726516863_0.png" alt="price target chart" />
<h2>Deciphering Analyst Ratings: An In-Depth Analysis</h2>
The analysis of recent analyst actions sheds light on the perception of Sysco by financial experts. The following summary presents key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>John Ivankoe</td>
<td>JP Morgan</td>
<td>Raises</td>
<td>Overweight</td>
<td>$88.00</td>
<td>$85.00</td>
</tr>
<tr>
<td>Jeffrey Bernstein</td>
<td>Barclays</td>
<td>Raises</td>
<td>Overweight</td>
<td>$88.00</td>
<td>$85.00</td>
</tr>
<tr>
<td>Kendall Toscano</td>
<td>B of A Securities</td>
<td>Lowers</td>
<td>Buy</td>
<td>$87.00</td>
<td>$91.00</td>
</tr>
<tr>
<td>John Glass</td>
<td>Morgan Stanley</td>
<td>Lowers</td>
<td>Equal-Weight</td>
<td>$81.00</td>
<td>$82.00</td>
</tr>
<tr>
<td>Jake Bartlett</td>
<td>Truist Securities</td>
<td>Lowers</td>
<td>Buy</td>
<td>$85.00</td>
<td>$87.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: Analysts frequently update their recommendations based on evolving market conditions and company performance. Whether they 'Maintain', 'Raise' or 'Lower' their stance, it reflects their reaction to recent developments related to Sysco. This information provides a snapshot of how analysts perceive the current state of the company.</li>
<li>Rating: Offering insights into predictions, analysts assign qualitative values, from 'Outperform' to 'Underperform'. These ratings convey expectations for the relative performance of Sysco compared to the broader market.</li>
<li>Price Targets: Understanding forecasts, analysts offer estimates for Sysco's future value. Examining the current and prior targets provides insight into analysts' changing expectations.</li>
</ul>
To gain a panoramic view of Sysco's market performance, explore these analyst evaluations alongside essential financial indicators. Stay informed and make judicious decisions using our Ratings Table.
<a href="https://www.benzinga.com/quote/SYY/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on Sysco analyst ratings.</a>
<h2>Discovering Sysco: A Closer Look</h2>
Sysco is the largest US foodservice distributor with 17% share of the highly fragmented $370 billion domestic market. It distributes roughly 500,000 food and nonfood products to restaurants (62% of fiscal 2024 revenue), education and government buildings (7%), travel and leisure (6%), healthcare facilities (7%), and other locations (18%) where individuals consume away-from-home meals. In fiscal 2024, 70% of the firm's revenue was derived from its US foodservice operations, while its international (18%), quick-service logistics (10%), and other (2%) segments contributed the rest.
<h3>Sysco's Economic Impact: An Analysis</h3>
Market Capitalization: Surpassing industry standards, the company's market capitalization asserts its dominance in terms of size, suggesting a robust market position.
Revenue Growth: Over the 3 months period, Sysco showcased positive performance, achieving a revenue growth rate of 4.19% as of 30 June, 2024. This reflects a substantial increase in the company's top-line earnings. In comparison to its industry peers, the company stands out with a growth rate higher than the average among peers in the Consumer Staples sector.
Net Margin: Sysco's financial strength is reflected in its exceptional net margin, which exceeds industry averages. With a remarkable net margin of 2.98%, the company showcases strong profitability and effective cost management.
Return on Equity (ROE): The company's ROE is a standout performer, exceeding industry averages. With an impressive ROE of 30.89%, the company showcases effective utilization of equity capital.
Return on Assets (ROA): The company's ROA is a standout performer, exceeding industry averages. With an impressive ROA of 2.46%, the company showcases effective utilization of assets.
Debt Management: Sysco's debt-to-equity ratio is notably higher than the industry average. With a ratio of 6.96, the company relies more heavily on borrowed funds, indicating a higher level of financial risk.
<h2>The Significance of Analyst Ratings Explained</h2>
Analysts work in banking and financial systems and typically specialize in reporting for stocks or defined sectors. Analysts may attend company conference calls and meetings, research company financial statements, and communicate with insiders to publish "analyst ratings" for stocks. Analysts typically rate each stock once per quarter.
Some analysts also offer predictions for helpful metrics such as earnings, revenue, and growth estimates to provide further guidance as to what to do with certain tickers. It is important to keep in mind that while stock and sector analysts are specialists, they are also human and can only forecast their beliefs to traders.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Key Takeaways From Sysco Analyst Ratings

JP Morgan analyst John Ivankoe maintains Sysco (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SYY#NYSE">SYY</a>) with a Overweight and raises the price target from $85 to $88.

JP Morgan Maintains Overweight on Sysco, Raises Price Target to $88

Sysco Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SYY#NYSE">SYY</a>), the world&#39;s largest food distributor, celebrated the arrival of 8 heavy-duty electric tractors to their fleet in Victoria, which serves over 1,500 customers including restaurants, healthcare and education customers. In total, Sysco now has over 130 heavy-duty electric tractors globally across the United States, Canada, United Kingdom and Sweden.

Reported Earlier, Sysco Canada Adds 8 Electric Trucks To Victoria Fleet

Sysco's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SYY#NYSE">SYY</a>) short percent of float has risen 3.69% since its last report. The company recently reported that it has 11.19 million shares sold short, which is 2.25% of all regular shares that are available for trading. Based on its trading volume, it would take traders 3.19 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>Sysco Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1725024618_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for Sysco has grown since its last report. This does not mean that the stock is going to fall in the near-term but traders should be aware that more shares are being shorted.
<h3>Comparing Sysco's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, Sysco's peer group average for short interest as a percentage of float is 4.62%, which means the company has less short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

Short Sellers

Short Ideas

Peering Into Sysco's Recent Short Interest

Performance Food Group Co. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/pfgc#NYSE">PFGC</a>) is one of the largest food service distributors in the United States. The company sources, markets, and delivers food and food-related products through a network of over 150 distribution facilities to over 125,000 businesses in the food service industry. The company is acquiring food service distributor Cheney Brothers for $2.1 billion, which will expand its footprint with restaurant and hospitality customers in the Southeastern region of the United States. The drop in inflation back under 3% and the impending interest rate cuts are positive tailwinds that the market anticipates for the company.
<h2>Disinflation Should Not Be Mistaken for Deflation </h2>
Performance Food Group is a benefactor of disinflation, which is not to be confused with deflation. Disinflation occurs when the rate of inflation slows down, which means prices are still rising but at a slower pace. For example, when inflation drops from 9% to 2.9%, as indicated by the recent July consumer price index (CPI) report. Disinflation eases procurement costs and improves gross margins. It also improves demand and business spending power. Interest rate cuts are meant to be disinflationary.
Deflation occurs when general prices actually fall. This can result in a negative inflation rate, which can be harmful to the economy. Deflation occurs during severe economic downturns.
Performance Food Group operates in the retail/wholesale sector, competing with food distributors such as Sysco Co. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/syy#NYSE">SYY</a>), United Natural Foods Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/unfi#NYSE">UNFI</a>), and SpartanNash Co. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/sptn#NASDAQ">SPTN</a>).
<h2>Performance Food&#39;s Exclusive Portfolio of Brands </h2>
The company has exclusive brands under its Performance Foodservice segment, with categories like Center of Plate (COP) and Seafood. These brands offer&nbsp;beef, poultry, and seafood to high-end luxury steakhouses, fast-food burger joints, and on-the-go food trucks. Its exclusive seafood brands include top-tier Bay Winds, Empire&#39;s Treasure, The Fresh Catch,&nbsp;and World Dock.
Its Bakery &amp; Desserts category carries exclusive products from Heritage Ovens, Sweet Encore, Piancone and Roma gelato, tiramisu, cannoli, and coffee and expresso from Italy. Performance sells thousands of products covering condiments to freshly caught fish from over 100 exclusive brands, including custom-cut meats. Its customers range from restaurants to convenience stores, hotels, schools, universities, retail, senior living, and healthcare facilities.
<img alt="Performance Food Group Company PFGC stock chart" class="aligncenter" src="https://www.marketbeat.com/logos/articles/med_20240818190053_chartb-pfgc.jpg" style="height:748px; width:915px" />
<h2>PFGC Stock Is Back in an Ascending Parallel Price Channel</h2>
The daily candlestick chart for PFGC shows an ascending price channel pattern. The ascending upper trendline connects the higher highs, and the lower trendline connects the higher lows. While PFGC fell out of the channel before its earnings report, the price gap from $67.34 to $70.73 placed shares firmly back into the channel. The daily relative strength index (RSI) rose to the 70-band. Pullback support levels are at $70.73, $67.34 gap fill, $65.19, and $63.35.
<h2>The Turnaround Is Accelerating </h2>
Performance Food Group reported fiscal Q4 2024 EPS of $1.45, beating consensus estimates of $1.37 by 8 cents. Adjusted EBITDA rose 18.4% to $456.2 million. Revenues rose 2.3% YoY to $15.2 billion versus $15.25 billion. Total case volume grew 1.1% YoY. Organic independent food service case volume rose by 3.7%. Net income rose 10.9% YoY to $166.5 million. Overall, product cost inflation for its food service business rose 2.9% in the quarter. Its Foodservice segment sales rose 4.6% to $7.7 billion. The Vistar segment had a 1.8% drop in net sales to $1.2 billion. The Convenience segment&#39;s net sales dropped by&nbsp; 0.5% YoY to $6.3 billion.
<h2>Performance Food Group Issues Mixed Guidance </h2>
For fiscal Q1 2025, Performance Food Group issued downside revenue guidance of $15.2 billion to $15.5 billion versus the $15.54 billion consensus. Adjusted EBITDA is expected to be around $400 million to $425 million. Business results for Jose Santiago are expected to be added to the quarter.
For the fiscal full year 2025, the company expects revenues of $60 billion to $61 billion versus $60.83 billion consensus estimates. Adjusted EBITDA for the fiscal full year 2025 is expected to be between $1.6 billion and $1.7 billion.
Performance Food Group CEO George Holm commented on the 2 recent acquisitions, &quot;While small relative to PFG&#39;s total business, we believe Jos&eacute; Santiago will be accretive to earnings, cash flow, and margins immediately. Taken together, we believe these two deals position PFG very well for the future growth of the Southeastern United States and the Caribbean territories.&quot;
The article &quot;<a href="https://www.nasdaq.com/articles/performance-food-group-sees-disinflation-tailwinds-2025">Performance Food Group Sees Disinflation Tailwinds in 2025</a>&quot; first appeared on MarketBeat.

Earnings

Large Cap

Guidance

Retail Sales

Small Cap

Markets

PFGC

SPTN

UNFI

Performance Food Group Sees Disinflation Tailwinds in 2025

The new Food Traceability Rule mandates establishing a traceability recordkeeping system for certain foods to facilitate faster identification and rapid removal of potentially harmful products from the market.&nbsp;

Sysco Plans To Implement Advanced Traceability Measures, Effective Summer Of 2024

Trian Fund Management, an activist investor hedge fund co-founded by billionaire Nelson Peltz, still owns a piece of Walt Disney Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIS#NYSE">DIS</a>) after reportedly selling <a href="https://www.benzinga.com/markets/24/05/39078534/activist-investor-nelson-peltz-sells-entire-disney-stake-for-1b-after-losing-proxy-battle">its entire position</a> in late May, according to regulatory filings.
A quarterly 13-F report filed with the Securities and Exchange Commission on May 15 shows that New York-based Trian had 32.4 million shares in the company worth a total of $3.96 billion during the first quarter.
A Thursday filing revealed that Trian sold 29.7 million shares worth $3.69 billion at some point in the second quarter. But the hedge fund still owns almost 2.65 million shares worth nearly $263 million.
Trian reportedly sold <a href="https://www.benzinga.com/top-stories/24/05/39095549/the-rich-get-richer-how-one-billionaire-lost-but-still-made-hundreds-of-millions">its entire stake</a> in Disney at $120 a share as of May 29. The sale came after Peltz unsuccessfully tried to oust Disney CEO Bob Iger at an April shareholder meeting.
Read Also: <a href="https://www.benzinga.com/news/24/04/38104809/elon-musk-is-very-vocal-about-his-animosity-toward-bob-iger-but-his-bromance-with-nelson-peltz-is-go">Elon Musk&#8217;s Feud With Bob Iger Rages On, But His Bromance With Nelson Peltz Is Going Strong: &#8216;His Ideas Are Beyond Anything&#8230;&#8217;</a>
Investors voted against Peltz&#8217;s board nominees and moved to keep the entire board in place, including Iger. 
Peltz reportedly made $1 billion from the divestment, despite losing the activist battle against Disney.
The two 13-Fs also showed that Trian sold 539,884 shares of Ferguson Plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FERG#NYSE">FERG</a>) that were worth more than $166 million during the second quarter. The deal left the firm with 1.95 million shares worth $378 million.
Trian also bought 3.55 million shares of UHaul for $78.6 million, 5.36 million shares of Solventum Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SOLV#NYSE">SOLV</a>) for $284 million and 470,000 shares of Rentokil Initial plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RTO#NYSE">RTO</a>) for $13.9 million. It sold 1.22 million shares of Sysco Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SYY#NYSE">SYY</a>) for $99.3 million.
Price Action: Disney gained 2.66% to $88.60 by Thursday&#8217;s late-afternoon trading. Exchange-traded funds that track the stock also trended upward.
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<li>First Trust S-Network Streaming &amp; Gaming ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BNGE#NYSE">BNGE</a>) gained 1.34%</li>
<li>ALPS Global Travel Beneficiaries ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JRNY#NYSE">JRNY</a>) edged up 0.02%</li>
<li>Vanguard Communication Services ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VOX#NYSE">VOX</a>) ticked up 1.18%</li>
<li>iShares Global Comm Services ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IXP#NYSE">IXP</a>) went up 0.79%</li>
<li>AdvisorShares Gerber Kawasaki ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GK#NYSE">GK</a>) improved 1.72%</li>
</ul>
Read Now: 
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<li><a href="https://www.benzinga.com/general/entertainment/24/04/38096842/nelson-peltz-reflects-on-disney-proxy-battles-aftermath-i-was-very-surprised">Nelson Peltz Reflects On Disney Proxy Battle&#8217;s Aftermath: &#8216;I Was Very Surprised&#8217;</a></li>
</ul>

Entertainment

Gaming

ETFs

BNGE

FERG

iShares Trust S&P Global Telecommunications Sector Index Fund

JRNY

SOLV

Disney Still Makes Up A Chunk Of Peltz's Trian Fund Despite $4B Exit, Records Show

Sysco's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SYY#NYSE">SYY</a>) short percent of float has risen 16.04% since its last report. The company recently reported that it has 10.80 million shares sold short, which is 2.17% of all regular shares that are available for trading. Based on its trading volume, it would take traders 4.89 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>Sysco Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1722533418_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for Sysco has grown since its last report. This does not mean that the stock is going to fall in the near-term but traders should be aware that more shares are being shorted.
<h3>Comparing Sysco's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, Sysco's peer group average for short interest as a percentage of float is 5.05%, which means the company has less short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

Looking Into Sysco's Recent Short Interest

Barclays analyst Jeffrey Bernstein maintains Sysco (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SYY#NYSE">SYY</a>) with a Overweight and raises the price target from $85 to $88.

Barclays Maintains Overweight on Sysco, Raises Price Target to $88

For the quarter ended June 2024, Sysco (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/syy#NYSE">SYY</a>) reported revenue of $20.56 billion, up 4.2% over the same period last year. EPS came in at $1.39, compared to $1.34 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $20.51 billion, representing a surprise of +0.24%. The company delivered an EPS surprise of +0.72%, with the consensus EPS estimate being $1.38.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company&#39;s underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock&#39;s price performance.
Here is how Sysco performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
<ul>
<li>Revenue- International Foodservice Operations: $3.79 billion compared to the $3.82 billion average estimate based on three analysts. The reported number represents a change of +3.8% year over year.</li>
<li>Revenue- U.S. Foodservice Operations: $14.41 billion versus the three-analyst average estimate of $14.48 billion. The reported number represents a year-over-year change of +4.9%.</li>
<li>Sales- Other: $310 million compared to the $328.42 million average estimate based on three analysts. The reported number represents a change of -5.8% year over year.</li>
<li>Sales- SYGMA: $2.04 billion versus $2 billion estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +2% change.</li>
<li>Operating income (GAAP)- Other: $23 million compared to the $20.91 million average estimate based on three analysts.</li>
<li>Operating income (GAAP)- SYGMA: $26 million compared to the $19.90 million average estimate based on three analysts.</li>
<li>Gross Profit- Other: $85 million compared to the $87.73 million average estimate based on three analysts.</li>
<li>SYGMA- Gross Profit: $163 million versus the three-analyst average estimate of $158.86 million.</li>
</ul>
Shares of Sysco have returned +4.8% over the past month versus the Zacks S&amp;P 500 composite&#39;s +0.1% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
<a href="https://www.zacks.com/stock/news/2311818/sysco-syy-q4-earnings-how-key-metrics-compare-to-wall-street-estimates?cid=CS-BENZ-FT-fundamental_analysis|nfm-2311818">To read this article on Zacks.com click here.</a>

Sysco Q4 Earnings: How Key Metrics Compare to Wall Street Estimates

WIIM

Sysco shares are trading higher after the company reported better-than-expected Q4 adjusted EPS results. Additionally, the company announced its targeting a $1 billion share repurchase program in fiscal 2025. (edited)

Sysco Exec Says Co Expects Some Improvement In The Macro Backdrop Beginning Second Half Of Year

Buybacks

Sysco Exec Says Targeting $1B Share Repurchases In Fiscal 2025

Sysco Exec Says Expects Net Sales Growth To Include Low Single-Digit Volume Growth In Fiscal 2025

Sysco Exec Says Expects Sales Growth Between 4%-5% During Fiscal 2025; Expects Adjusted EPS Growth Between 6%-7% During Fiscal 2025

Sysco Exec Says Corporate Expenses Were Down 10% YoY In The Quarter

Sysco Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SYY#NYSE">SYY</a>) reported fourth-quarter FY24 sales growth of 4.2% to $20.556 billion,<a target="_blank" href="https://www.benzinga.com/pressreleases/24/07/g40034864/sysco-reports-fourth-quarter-and-full-year-2024-results" rel="noreferrer noopener"> missing the analyst consensus estimate of $20.573 billion.</a>
U.S. Foodservice operations sales rose 4.9% Y/Y, and International Foodservice sales grew 3.8%.
Gross profit increased 4.2% Y/Y to $3.8 billion, and the gross margin compressed 1 basis point to 18.7%.
The operating margin contracted 14 basis points to 4.8%, and operating income for the quarter rose 1.2% to $977 million. Non-GAAP operating margin expanded 11 basis points to 5.3%.
Adjusted EBITDA increased 5.4% Y/Y to $1.3 billion in the quarter. Adjusted EPS of $1.39 <a target="_blank" href="https://www.benzinga.com/earnings" rel="noreferrer noopener">beat the analyst consensus of $1.38.</a>
Sysco held $696 million in cash and equivalents as of June 29. Operating cash flow for FY24 totaled $3 billion, with a free cash flow of $2.2 billion.
The company returned approximately $2.2 billion to shareholders via $1.2 billion of share repurchases and $1.0 billion of dividends.
&#8220;Fiscal 2025 kicks off the first year of our three-year financial growth algorithm. Our plans for consistent top- and bottom-line growth are built on our expectations for sustainable growth, operational excellence, and a balanced capital return profile. This long-term view reflects an expected compounded annual growth rate of&nbsp;4%-6%&nbsp;for net sales,&nbsp;6%-8%&nbsp;for adjusted EPS, and&nbsp;9-11%&nbsp;total shareholder returns,&#8221; said Kenny Cheung, Sysco&#8217;s Chief Financial Officer.
Price Action: SYY shares are trading higher by 0.79% at $73.84 at the last check Tuesday.
Photo via Wikimedia Commons

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