Sysco Co. (SYY) To Go Ex-Dividend on October 4th

Sysco Co. (NYSE:SYY) declared a quarterly dividend on Thursday, August 15th, Zacks reports. Shareholders of record on Friday, October 4th will be given a dividend of 0.51 per share on Friday, October 25th. This represents a $2.04 annualized dividend and a yield of 2.62%. The ex-dividend date of this dividend is Friday, October 4th.

Sysco has increased its dividend payment by an average of 3.2% annually over the last three years and has raised its dividend every year for the last 56 years. Sysco has a dividend payout ratio of 44.3% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Sysco to earn $4.97 per share next year, which means the company should continue to be able to cover its $2.04 annual dividend with an expected future payout ratio of 41.0%.

Sysco Stock Down 0.4 %

Shares of Sysco stock opened at $77.74 on Wednesday. The company has a quick ratio of 0.69, a current ratio of 1.20 and a debt-to-equity ratio of 6.19. The company has a market cap of $38.21 billion, a P/E ratio of 18.96, a PEG ratio of 2.02 and a beta of 1.20. The firm’s 50 day moving average price is $76.39 and its 200-day moving average price is $75.37. Sysco has a 52-week low of $62.24 and a 52-week high of $82.89.

Sysco (NYSE:SYY) last issued its quarterly earnings data on Tuesday, July 30th. The company reported $1.39 EPS for the quarter, beating the consensus estimate of $1.38 by $0.01. Sysco had a return on equity of 102.09% and a net margin of 2.48%. The firm had revenue of $20.56 billion during the quarter, compared to analyst estimates of $20.51 billion. During the same quarter in the prior year, the business posted $1.34 EPS. The business’s revenue for the quarter was up 4.2% compared to the same quarter last year. On average, sell-side analysts predict that Sysco will post 4.6 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on SYY shares. Barclays boosted their price target on Sysco from $85.00 to $88.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. Bank of America cut their price target on shares of Sysco from $91.00 to $87.00 and set a “buy” rating on the stock in a research note on Thursday, July 18th. JPMorgan Chase & Co. lifted their price objective on shares of Sysco from $85.00 to $88.00 and gave the stock an “overweight” rating in a research note on Monday, September 16th. StockNews.com upgraded Sysco from a “buy” rating to a “strong-buy” rating in a research note on Wednesday. Finally, Morgan Stanley dropped their price target on Sysco from $82.00 to $81.00 and set an “equal weight” rating on the stock in a research note on Tuesday, July 16th. Two research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $86.08.

About Sysco

Sysco Corporation, through its subsidiaries, engages in the marketing and distribution of various food and related products 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.