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SYY

Sysco

$81.27

1.38 (1.73%)

08:16
11/04/19
11/04
08:16
11/04/19
08:16

Sysco reports Q1 adj. EPS 98c, consensus 97c

Reports Q1 revenue $15.3B, consensus $15.51B. "We saw improved financial results in the first quarter with adjusted operating income growth that was in line with our expectations, as we remain focused on accelerating local case growth and maintaining our strong track record of expense management," said Tom Bene, Sysco's chairman, president and chief executive officer. "As we look forward to celebrating our 50th anniversary this fiscal year, we remain committed to meeting the changing needs of our customers and supporting their continued growth."

  • 04

    Nov

  • 15

    Nov

SYY Sysco
$81.27

1.38 (1.73%)

07/18/19
07/18/19
INITIATION

Fly Intel: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Sysco (SYY) initiated with an Underweight at Consumer Edge. 2. Sonim (SONM) initiated with a Buy at B. Riley FBR. 3. Ingevity (NGVT) initiated with an Outperform at BMO Capital. 4. Clarivate Analytics (CCC) initiated with a Neutral at Citi. 5. Photronics (PLAB) initiated with an Outperform at Northland. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
08/12/19
WELS
08/12/19
NO CHANGE
Target $83
WELS
Outperform
Sysco Q4 report looks 'like a clearing event,' says Wells Fargo
Wells Fargo analyst Edward Kelly said Sysco's earnings report looks "like a clearing event" and he recommends buying the stock following a quarter that he said "was generally better than feared" and sets the stage for improved performance in fiscal 2020. The company "finally cut its aggressive three-year EBIT growth target" and although he would have liked to see guidance moved even lower, the revision should still remove a key overhang on the stock, said Kelly, who keeps an Outperform rating on Sysco shares.
10/04/19
WELS
10/04/19
NO CHANGE
Target $53
WELS
Outperform
Wells Fargo 'not overly concerned' about Amazon threat to Performance Food Group
Wells Fargo analyst Edward Kelly said he believes food service stocks, including Performance Food Group (PFGC) in particular, are weak due to a competing analyst's note highlighting that Amazon (AMZN) had a presence at a convenience store conference, sparking concern that the e-commerce giant may be looking to enter c-store distribution. Investors may also be concerned that this news "logically reintroduces the question" of whether Amazon is interested in traditional food service distribution to restaurants, Kelly added. However, he is "not overly concerned," stating that while safe to assume Amazon is looking into these businesses, and many others, that does not guarantee a meaningful presence or success. Also, C-store distribution requires tobacco to execute broadly and it is not clear if Amazon has interest in this product, Kelly contends. The analyst, who believes c-store exposure for Sysco (SYY) and US Foods (USFD) is "tiny," added that traditional food service is a tough business for a new entrant. While Amazon's "true ambition in any industry is difficult to assess and it makes sense to remain on alert," he would be a buyer of all three food distributor stocks mentioned amid the weakness, Kelly tells investors.
10/25/19
LOOP
10/25/19
NO CHANGE
Target $86
LOOP
Buy
Sysco price target raised to $86 from $78 at Loop Capital
Loop Capital analyst Andrew Wolf raised his price target on Sysco to $86 and kept his Buy rating ahead of its Q1 earnings on November 4th. The analyst sees continued "solid" pricing power in the food service distribution sector, along with a "decent" expense leverage driving the company's mid-to-high single-digit gains in operating profit.

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