Sysco Co. (NYSE:SYY – Get Free Report) 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.
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.
View Our Latest Stock Analysis on Sysco
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.
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