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Sysco Co. (NYSE:SYY) Announces $0.49 Quarterly Dividend

Sysco Co. (NYSE:SYY - Get Rating) announced a quarterly dividend on Thursday, November 17th, RTT News reports. Shareholders of record on Friday, January 6th will be paid a dividend of 0.49 per share on Friday, January 27th. This represents a $1.96 annualized dividend and a yield of 2.33%.

Sysco has raised its dividend payment by an average of 8.2% per year over the last three years and has raised its dividend every year for the last 53 years. Sysco has a payout ratio of 47.2% meaning its dividend is sufficiently covered by earnings. Analysts expect Sysco to earn $4.69 per share next year, which means the company should continue to be able to cover its $1.96 annual dividend with an expected future payout ratio of 41.8%.

Sysco Stock Performance

Sysco stock traded down $0.21 during midday trading on Thursday, hitting $84.10. The company's stock had a trading volume of 1,328,632 shares, compared to its average volume of 2,471,707. Sysco has a 1-year low of $68.05 and a 1-year high of $91.53. The company has a debt-to-equity ratio of 9.20, a current ratio of 1.20 and a quick ratio of 0.68. The company has a 50-day moving average price of $78.96 and a two-hundred day moving average price of $82.22. The company has a market cap of $42.62 billion, a price-to-earnings ratio of 29.79, a PEG ratio of 1.82 and a beta of 1.11.

Insider Activity


In related news, CEO Kevin Hourican sold 75,019 shares of the stock in a transaction that occurred on Monday, October 24th. The shares were sold at an average price of $81.22, for a total value of $6,093,043.18. Following the completion of the transaction, the chief executive officer now owns 303,643 shares of the company's stock, valued at approximately $24,661,884.46. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, CEO Kevin Hourican sold 75,019 shares of the stock in a transaction that occurred on Monday, October 24th. The shares were sold at an average price of $81.22, for a total value of $6,093,043.18. Following the completion of the transaction, the chief executive officer now owns 303,643 shares of the company's stock, valued at approximately $24,661,884.46. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Greg D. Bertrand sold 12,000 shares of the stock in a transaction that occurred on Friday, October 28th. The shares were sold at an average price of $85.00, for a total transaction of $1,020,000.00. Following the completion of the transaction, the executive vice president now directly owns 40,931 shares of the company's stock, valued at approximately $3,479,135. The disclosure for this sale can be found here. Corporate insiders own 0.43% of the company's stock.

Hedge Funds Weigh In On Sysco

Several institutional investors and hedge funds have recently added to or reduced their stakes in SYY. Ensign Peak Advisors Inc lifted its stake in Sysco by 29.4% in the 1st quarter. Ensign Peak Advisors Inc now owns 897,521 shares of the company's stock valued at $73,284,000 after purchasing an additional 204,147 shares during the last quarter. Cowa LLC acquired a new position in Sysco in the 1st quarter valued at approximately $166,000. Cibc World Markets Corp increased its position in Sysco by 1,098.4% in the 1st quarter. Cibc World Markets Corp now owns 218,995 shares of the company's stock valued at $17,881,000 after acquiring an additional 200,721 shares during the period. Goldman Sachs Group Inc. increased its position in Sysco by 11.3% in the 2nd quarter. Goldman Sachs Group Inc. now owns 1,790,496 shares of the company's stock valued at $151,673,000 after acquiring an additional 181,212 shares during the period. Finally, Eaton Vance Management increased its position in Sysco by 8.8% in the 1st quarter. Eaton Vance Management now owns 2,237,856 shares of the company's stock valued at $182,720,000 after acquiring an additional 180,548 shares during the period. Institutional investors own 82.43% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on SYY shares. Credit Suisse Group dropped their price objective on shares of Sysco from $107.00 to $100.00 and set an "outperform" rating for the company in a research note on Wednesday, August 10th. Truist Financial dropped their price objective on shares of Sysco from $98.00 to $92.00 and set a "buy" rating for the company in a research note on Wednesday, August 10th. Morgan Stanley lifted their price objective on shares of Sysco from $84.00 to $86.00 and gave the stock an "equal weight" rating in a research note on Wednesday, November 2nd. Barclays dropped their price objective on shares of Sysco from $100.00 to $92.00 and set an "overweight" rating for the company in a research note on Thursday, October 20th. Finally, Stephens assumed coverage on shares of Sysco in a research report on Thursday, September 22nd. They issued an "overweight" rating and a $90.00 target price for the company. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Sysco presently has a consensus rating of "Moderate Buy" and a consensus target price of $92.00.

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.

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Dividend History for Sysco (NYSE:SYY)

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