SYSCO Co. (NYSE:SYY) declared a quarterly dividend on Friday, November 17th, RTT News reports. Shareholders of record on Friday, January 5th will be paid a dividend of 0.36 per share on Friday, January 26th. This represents a $1.44 dividend on an annualized basis and a yield of 2.35%. The ex-dividend date of this dividend is Thursday, January 4th. This is a positive change from SYSCO’s previous quarterly dividend of $0.33.
SYSCO has increased its dividend payment by an average of 14.9% per year over the last three years and has increased its dividend every year for the last 47 years. SYSCO has a payout ratio of 51.8% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect SYSCO to earn $3.14 per share next year, which means the company should continue to be able to cover its $1.44 annual dividend with an expected future payout ratio of 45.9%.
Shares of SYSCO (NYSE:SYY) opened at $61.38 on Friday. SYSCO has a 52-week low of $48.85 and a 52-week high of $62.79. The company has a market cap of $31,980.00, a PE ratio of 28.03, a PEG ratio of 2.44 and a beta of 0.53. The company has a debt-to-equity ratio of 3.77, a quick ratio of 0.88 and a current ratio of 1.40.
SYSCO (NYSE:SYY) last released its quarterly earnings results on Monday, November 6th. The company reported $0.74 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.72 by $0.02. SYSCO had a net margin of 2.12% and a return on equity of 58.47%. The firm had revenue of $14.65 billion during the quarter, compared to analyst estimates of $14.43 billion. During the same quarter in the prior year, the firm earned $0.67 EPS. The business’s revenue for the quarter was up 4.9% compared to the same quarter last year. sell-side analysts expect that SYSCO will post 2.78 earnings per share for the current fiscal year.
Several research firms have recently commented on SYY. Loop Capital upped their price target on shares of SYSCO to $68.00 and gave the company a “buy” rating in a research report on Monday, December 11th. Pivotal Research upped their price target on shares of SYSCO from $53.00 to $60.00 and gave the company a “buy” rating in a research report on Tuesday, December 12th. Zacks Investment Research raised shares of SYSCO from a “hold” rating to a “strong-buy” rating and set a $71.00 price target for the company in a research report on Wednesday. Finally, BMO Capital Markets set a $66.00 price target on shares of SYSCO and gave the company a “buy” rating in a research report on Friday, December 8th. Six analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $59.55.
In related news, CEO William J. Delaney III sold 30,000 shares of the stock in a transaction that occurred on Wednesday, October 18th. The shares were sold at an average price of $54.71, for a total value of $1,641,300.00. Following the completion of the sale, the chief executive officer now directly owns 406,725 shares of the company’s stock, valued at approximately $22,251,924.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Wayne Shurts sold 15,600 shares of the stock in a transaction that occurred on Wednesday, January 10th. The stock was sold at an average price of $61.44, for a total transaction of $958,464.00. Following the completion of the sale, the insider now directly owns 55,235 shares of the company’s stock, valued at $3,393,638.40. The disclosure for this sale can be found here. Insiders sold a total of 321,172 shares of company stock valued at $18,233,905 over the last three months. 9.60% of the stock is currently owned by insiders.
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SYSCO Company Profile
Sysco Corporation (Sysco) is a distributor of food and related products primarily to the foodservice or food-away-from-home industry. The Company’s segments include Broadline, SYGMA and Other. The Broadline segment includes its Broadline operations located in the Bahamas, Canada, Costa Rica, Ireland, Mexico and the United States.
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