Sysco Co. (NYSE:SYY) Increases Dividend to $0.49 Per Share

Sysco Co. (NYSE:SYYGet Rating) announced a quarterly dividend on Thursday, April 28th, RTT News reports. Shareholders of record on Friday, July 1st will be given a dividend of 0.49 per share on Friday, July 22nd. This represents a $1.96 dividend on an annualized basis and a yield of 2.22%. This is an increase from Sysco’s previous quarterly dividend of $0.47.

Sysco has increased its dividend by an average of 8.2% annually over the last three years and has increased its dividend annually for the last 53 consecutive years. Sysco has a dividend payout ratio of 45.1% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Sysco to earn $4.19 per share next year, which means the company should continue to be able to cover its $1.88 annual dividend with an expected future payout ratio of 44.9%.

Sysco stock opened at $88.32 on Friday. The stock has a 50-day moving average of $83.65 and a two-hundred day moving average of $79.76. The company has a debt-to-equity ratio of 8.68, a quick ratio of 0.78 and a current ratio of 1.33. The stock has a market cap of $45.28 billion, a PE ratio of 58.11, a price-to-earnings-growth ratio of 2.57 and a beta of 1.26. Sysco has a one year low of $68.05 and a one year high of $91.53.

Sysco (NYSE:SYYGet Rating) last announced its quarterly earnings data on Tuesday, February 8th. The company reported $0.57 earnings per share for the quarter, missing analysts’ consensus estimates of $0.69 by ($0.12). The firm had revenue of $16.32 billion during the quarter, compared to analyst estimates of $15.88 billion. Sysco had a net margin of 1.29% and a return on equity of 82.36%. The firm’s revenue for the quarter was up 41.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.17 earnings per share. As a group, sell-side analysts predict that Sysco will post 3.17 EPS for the current fiscal year.

In related news, CAO Anita A. Zielinski sold 3,611 shares of the company’s stock in a transaction that occurred on Wednesday, February 9th. The stock was sold at an average price of $84.00, for a total value of $303,324.00. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Greg D. Bertrand sold 500 shares of the firm’s stock in a transaction on Friday, March 11th. The stock was sold at an average price of $80.74, for a total value of $40,370.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 236,400 shares of company stock worth $20,465,169. Corporate insiders own 0.31% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC purchased a new position in shares of Sysco during the 4th quarter worth approximately $25,000. First Community Trust NA purchased a new position in shares of Sysco during the fourth quarter worth $64,000. Covington Capital Management grew its stake in shares of Sysco by 66.1% in the fourth quarter. Covington Capital Management now owns 1,256 shares of the company’s stock valued at $99,000 after buying an additional 500 shares in the last quarter. Zullo Investment Group Inc. purchased a new stake in shares of Sysco in the 4th quarter valued at $157,000. Finally, Horizon Investments LLC lifted its stake in Sysco by 9.7% during the 4th quarter. Horizon Investments LLC now owns 3,742 shares of the company’s stock worth $292,000 after acquiring an additional 331 shares in the last quarter. 80.94% of the stock is currently owned by institutional investors and hedge funds.

Several analysts recently commented on SYY shares. Piper Sandler raised their target price on Sysco from $83.00 to $90.00 and gave the stock an “overweight” rating in a report on Friday, April 8th. Morgan Stanley increased their price target on Sysco from $85.00 to $86.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 9th. Deutsche Bank Aktiengesellschaft started coverage on Sysco in a research report on Tuesday, January 4th. They set a “hold” rating and a $82.00 price target on the stock. started coverage on Sysco in a research report on Thursday, March 31st. They set a “buy” rating on the stock. Finally, CL King began coverage on Sysco in a research report on Friday, March 11th. They set a “neutral” rating on the stock. Four investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, Sysco has an average rating of “Buy” and a consensus price target of $89.88.

Sysco Company Profile (Get Rating)

Sysco Corporation, through its subsidiaries, engages in the marketing and distribution of various food and related products primarily to the foodservice or food-away-from-home industry in the United States, Canada, the United Kingdom, France, and internationally. It operates through U.S. Foodservice Operations, International Foodservice Operations, SYGMA, and Other segments.

Featured Articles

Dividend History for Sysco (NYSE:SYY)

Receive News & Ratings for Sysco Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sysco and related companies with's FREE daily email newsletter.