Sysco Co. (NYSE:SYY) Plans $0.47 Dividend

Sysco Co. (NYSE:SYY) declared a dividend on Wednesday, September 15th, reports. Shareholders of record on Thursday, September 16th will be paid a dividend of 0.47 per share on Thursday, September 30th. This represents a yield of 2.4%. The ex-dividend date of this dividend is Wednesday, September 15th.

Sysco has raised its dividend by 36.4% over the last three years. Sysco has a dividend payout ratio of 130.6% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research 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%.

Shares of SYY stock opened at $75.78 on Wednesday. Sysco has a fifty-two week low of $53.85 and a fifty-two week high of $86.73. The firm has a market capitalization of $38.81 billion, a price-to-earnings ratio of 75.03, a PEG ratio of 2.44 and a beta of 1.45. The company has a debt-to-equity ratio of 6.82, a quick ratio of 0.96 and a current ratio of 1.47. The stock’s 50-day simple moving average is $75.77 and its 200-day simple moving average is $78.77.

Sysco (NYSE:SYY) last issued its quarterly earnings results on Monday, August 9th. The company reported $0.71 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.60 by $0.11. Sysco had a return on equity of 52.19% and a net margin of 1.02%. The business had revenue of $16.14 billion for the quarter, compared to analyst estimates of $14.65 billion. During the same quarter in the previous year, the firm earned ($0.29) earnings per share. The company’s revenue was up 82.0% on a year-over-year basis. As a group, equities analysts forecast that Sysco will post 3.49 earnings per share for the current year.

A number of equities research analysts have recently weighed in on SYY shares. UBS Group began coverage on Sysco in a research note on Thursday, July 29th. They set a “buy” rating and a $89.00 price target on the stock. Barclays increased their price objective on Sysco from $80.00 to $83.00 and gave the company an “equal weight” rating in a research note on Friday, May 21st. Finally, Morgan Stanley increased their price target on Sysco from $88.00 to $89.00 and gave the stock an “equal weight” rating in a report on Monday, May 24th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $85.78.

In other Sysco news, EVP Greg D. Bertrand sold 7,230 shares of the stock in a transaction on Friday, August 27th. The stock was sold at an average price of $80.00, for a total transaction of $578,400.00. Following the completion of the transaction, the executive vice president now directly owns 32,238 shares of the company’s stock, valued at approximately $2,579,040. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 5.17% of the company’s stock.

Sysco Company Profile

Sysco Corp. engages in selling, marketing, and distribution of food products to restaurants, healthcare and educational facilities, and lodging establishments. It operates through the following segments: U.S. Foodservice Operations, International Foodservice Operations, SYGMA, and Other. The U.S. Foodservice Operations consists of U.S.

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Dividend History for Sysco (NYSE:SYY)

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