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SYSCO CORPORATION

(SYY)
  Report
Real-time Estimate Cboe BZX  -  12:09:03 2023-01-30 pm EST
78.30 USD   +0.53%
01/18Morgan Stanley Adjusts Price Target on Sysco to $87 From $86, Maintains Equal-Weight Rating
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01/10Sysco to Release Second Quarter Fiscal Year 2023 Financial Results on January 31
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01/10Sysco to Release Second Quarter Fiscal Year 2023 Financial Results on January 31
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Sysco Strengthens its Commitment to Sustainability and Diversity, Equity and Inclusion

11/21/2022 | 08:02am EST

Shares progress in its 2022 Sustainability Report and produces first ever DEI Report

HOUSTON, Nov. 21, 2022 (GLOBE NEWSWIRE) -- Sysco Corporation (NYSE:SYY), the leading global foodservice distribution company, announced today the launch of its 2022 Sustainability Report and the company’s first Diversity, Equity and Inclusion (DEI) Report.

“Sustainability is an integral part of our business strategy, called the Recipe For Growth, to ensure we are growing responsibly and purposefully,” says Neil Russell, Sysco’s Senior Vice President of Corporate Affairs and Chief Communications Officer. He continues, “We are proud of the actions we are taking today to build a more sustainable future for Sysco and for our industry.”

Highlights of the 2022 Sustainability Report include:

  • Committing to purchase nearly 800 electric tractors to support the company’s goal of electrifying 35% of its U.S. fleet by 2030,
  • Donating nearly 16 million meals globally,
  • Advancing the company’s commitment to 100% renewable electricity by installing a new solar array at its Harlow site in the UK and announcing new solar farm projects in Sysco Canada,
  • Awarding ranchers $2.5 million in grants through the Southern Plains Grassland Program to invest in sustainable grazing practices and wildlife habitats, and
  • Strengthening commitment to sustainability and DEI by tying executive compensation to key metrics.

“The new DEI Report takes a deeper look into our strategic approach to DEI and commitment to caring for people,” said Adrienne Trimble, Vice President and Chief Diversity and Culture Officer. “Since accelerating our DEI efforts in early 2020, we’ve developed a three-year roadmap to guide our DEI journey as we embed our strategic priorities throughout the business and achieve our DEI goals.” 

In Fiscal Year 2022, Sysco:

  • Achieved 62% ethnic and gender diversity in its U.S. workforce ahead of the company’s 2025 goal, and
  • Increased spend with certified diverse suppliers by nearly 8%.

The company has established a cross-functional task force to develop new workforce representation goals due to the recent achievement of the current 2025 workforce goal.

For more information visit the Sustainability page and DEI page on sysco.com.     

About Sysco
Sysco is the global leader in selling, marketing and distributing food products to restaurants, healthcare and educational facilities, lodging establishments and other customers who prepare meals away from home. Its family of products also includes equipment and supplies for the foodservice and hospitality industries. With more than 71,000 associates, the company operates 333 distribution facilities worldwide and serves approximately 700,000 customer locations. For fiscal year 2022 that ended July 2, 2022, the company generated sales of more than $68 billion. Information about our Sustainability program, including Sysco’s 2022 Sustainability Report and 2022 Diversity, Equity & Inclusion Report, can be found at www.sysco.com.

For more information, visit www.sysco.com or connect with Sysco on Facebook at www.facebook.com/SyscoFoods. For important news and information regarding Sysco, visit the Investor Relations section of the company’s Internet home page at investors.sysco.com, which Sysco plans to use as a primary channel for publishing key information to its investors, some of which may contain material and previously non-public information. In addition, investors should continue to review our news releases and filings with the SEC. It is possible that the information we disclose through any of these channels of distribution could be deemed to be material information. 

For more information contact:
Shannon Mutschler
Media Contact
Mutschler.Shannon@corp.sysco.com
T 281-584-4059

 


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Financials (USD)
Sales 2023 76 127 M - -
Net income 2023 2 068 M - -
Net Debt 2023 9 975 M - -
P/E ratio 2023 19,3x
Yield 2023 2,53%
Capitalization 39 472 M 39 472 M -
EV / Sales 2023 0,65x
EV / Sales 2024 0,63x
Nbr of Employees 71 000
Free-Float 66,2%
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Mean consensus OUTPERFORM
Number of Analysts 19
Last Close Price 77,89 $
Average target price 89,93 $
Spread / Average Target 15,5%
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Managers and Directors
Kevin P. Hourican President, Chief Executive Officer & Director
Neil A. Russell Treasurer, VP-Investor Relations & Communications
Edward D. Shirley Independent Chairman
Tom Peck Executive VP, Chief Information & Digital Officer
Charles Tango Chief Information Security Officer
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