Wed, Nov. 16, 8:10 AM
Mon, Nov. 7, 2:20 PM
- Sysco (SYY +10%) rallies after Q1 results arrive ahead of analyst estimates.
- Adjusted operating income increased 24% to $627M during the quarter as a positive impact from the addition of Brakes was felt.
- U.S. broadline sales as a percentage of cases rose 8 bps to 37.62%.
- Sysco is currently at a session high of $53.97 which also happens to be a new all-time high for the food distributor.
- Previously: SYSCO beats by $0.09, beats on revenue (Nov. 7)
Mon, Nov. 7, 8:03 AM
Sun, Nov. 6, 5:30 PM| Sun, Nov. 6, 5:30 PM | 5 Comments
Fri, Aug. 26, 5:35 PM
Mon, Aug. 15, 8:02 AM
Sun, Aug. 14, 5:30 PM| Sun, Aug. 14, 5:30 PM
Tue, Aug. 2, 7:06 AM
- July monthly performance was: +2.28%
- 52-week performance vs. the S&P 500 is: +7%
- No dividends were paid in July
- Top 10 Holdings as of 6/30/2016: McCormick & Co Inc Non-Voting (MKC): 2.25805%, Cincinnati Financial Corp (CINF): 2.25221%, AT&T Inc (T): 2.2047%, C.R. Bard Inc (BCR): 2.20417%, Clorox Co (CLX): 2.19531%, Consolidated Edison Inc (ED): 2.18289%, Sysco Corp (SYY): 2.15335%, Medtronic PLC (MDT): 2.13378%, Cintas Corp (CTAS): 2.12501%, Kimberly-Clark Corp (KMB): 2.10475%
Tue, Jul. 5, 12:56 PM
- Sysco (SYY +1.1%) announces that it completed the $3.1B acquisition of Brakes Group.
- Brakes Group is a major foodservice distributor in the United Kingdom, France and Sweden, with additional operations in Ireland, Spain, Belgium and Luxembourg. The company's revenue last year totaled $5B.
- "This acquisition significantly strengthens Sysco’s position as the world’s leading foodservice distributor and offers attractive opportunities for organic growth and future expansion in European markets," says Sysco CEO Bill DeLaney.
- Brakes Group will operate as a wholly-owned subsidiary of Sysco with Brakes Group chief executive officer Ken McMeikan leading the business.
- Source: Press Release
Tue, Jul. 5, 6:48 AM
- Sysco Corporation (NYSE:SYY) announced acquisition of Supplies on the Fly for an undisclosed sum.
- “We are very excited to welcome our partners from Supplies on the Fly into the Sysco family of companies and we look forward to maximizing this opportunity to drive new growth in the $10B restaurant supplies and equipment segment,” said Bill Day, Sysco’s executive vice president of merchandising and Sysco business services. “With annual revenue of approximately $105M, Supplies on the Fly has delivered consistent and impressive sales growth over the past three years, significantly outpacing category growth in supplies and equipment over the same period.”
- All the current employees of Supplies on the Fly will be reatined and continue business as usual under the leadership of Craig Callaway, CEO.
- Press Release
Wed, May 25, 2:19 PM
- US Foods (Pending:USFD) is expected to price its IPO tonight in front of the public debut of shares tomorrow on the NYSE.
- The company is selling 44.4M shares in a range of $21 to $24 with funds earmarked toward improving the credit profile of the food distributor.
- The Wall Street underwriters on the deal are in a quiet period, but SA contributor Don Dion has a breakdown for investors.
- The eventual market cap valuation of US Foods will be of interest to Sysco (NYSE:SYY) shareholders with Sysco growing sales at a more rapid rate than its rival over the last few years.
Fri, May 20, 5:10 PM
- SYSCO (NYSE:SYY) declares $0.31/share quarterly dividend, in line with previous.
- Forward yield 2.55%
- Payable July 22; for shareholders of record July 1; ex-div June 29.
Fri, May 13, 11:09 AM
- US Foods (Pending:USFD) plans to sell 44.4M shares in a price range of $21 to $24 in its public launch.
- The company will raise $999M at the mid-point of the range.
- US Foods is one of the two dominant players in the food distribution industry along with Sysco (NYSE:SYY) and offers more than 400K fresh, frozen, and dry food SKUs and non-food items. Revenue for FY15 was a cool $23.13B.
- SEC Form S-1
Tue, May 3, 10:37 AM
- Wells Fargo raises SYSCO's (NYSE:SYY) valuation range to $53-54 (from $50-51) following yesterday's earnings beat.
- "Despite escalating expectations into the print (owing to strong FQ2 results and an improving long term outlook), SYY managed to deliver another $0.04 EPS beat on accelerating local case growth and further progress on initiatives. This was SYY’s 4th consecutive quarter of gross margin expansion following 9 quarters of declines, and the gross profit/OpEx growth spread widened to +266bps (vs. +160bps in FQ2).
- "We continue to see upside potential to our/consensus estimates given strong industry fundamentals (particularly for local customers), gross margin and expense management improvement and M&A accretion.
- "We believe upside to EPS estimates remain the primary driver of shares, and we see favorable risk/reward given SYY’s strong free cash flow, balance sheet optionality and potential for improved operating results."
- SYY currently -0.3% to $48.46.
- Related: Sysco's William J. DeLaney on Q3 Results
- Now read The Big 3: US Foods Compared To Public Peers Sysco And Performance Food »
Mon, May 2, 8:04 AM
- SYSCO (NYSE:SYY): FQ3 EPS of $0.46 beats by $0.04.
- Revenue of $12B (+2.1% Y/Y) beats by $130M.
Sun, May 1, 5:30 PM