Sysco Shares Down 2.2% (SYY)

Shares of Sysco Corporation SYY are currently down 2.2% at $29.36 per share during Monday afternoon trading. Today's trading range for shares of Sysco Corporation has been between $29.01 and $29.90 per share. The consensus price target of analysts covering the company's stock is $31.57 per share. Volume of 4.4 million shares is well above the daily average volume of 3.4 million shares. The Houston, Texas based Sysco Corporation (SYY) released financial results early Monday morning. Sysco Corporation reported fiscal 2011 1st quarter earnings of 51 cents per share, on revenue of $9.75 billion. A poll of analysts conducted by Thomson Reuters showed an average Wall Street estimate of expected earnings of 51 cents per share, on revenue of $9.56 billion. President and chief executive officer Bill DeLaney said, "I am pleased with the volume growth and productivity improvements our operating companies produced during the quarter. While our overall sales increase and operating expense management were encouraging, we missed our goal for operating income growth, largely due to a decline in gross profit margin and higher pension costs. Our entire leadership team is focused on effectively leveraging sales growth as the fiscal year progresses." Read more from Benzinga's Company news.