Sysco Corporation (SYY) To Go Ex-Dividend on October 2nd

Sysco Corporation (NYSE:SYY) declared a quarterly dividend on Thursday, August 20th. Investors of record on Friday, October 2nd will be paid a dividend of 0.55 per share on Friday, October 23rd. This represents a c) dividend on an annualized basis and a yield of 2.6%. The ex-dividend date is Friday, October 2nd.

Sysco has raised its dividend payment by an average of 0.0%annually over the last three years and has raised its dividend annually for the last 57 consecutive years. Sysco has a dividend payout ratio of 47.2% meaning its dividend is sufficiently covered by earnings. Analysts expect Sysco to earn $5.46 per share next year, which means the company should continue to be able to cover its $2.20 annual dividend with an expected future payout ratio of 40.3%.

Sysco Stock Performance

Shares of SYY opened at $84.04 on Friday. The company has a market capitalization of $40.23 billion, a price-to-earnings ratio of 22.96, a price-to-earnings-growth ratio of 2.84 and a beta of 0.64. Sysco has a 52-week low of $68.19 and a 52-week high of $91.85. The company has a quick ratio of 0.77, a current ratio of 1.28 and a debt-to-equity ratio of 4.62. The stock has a 50 day moving average price of $82.65 and a 200 day moving average price of $80.64.

Sysco (NYSE:SYY) last released its quarterly earnings data on Tuesday, August 4th. The company reported $1.53 earnings per share for the quarter, topping analysts’ consensus estimates of $1.51 by $0.02. The company had revenue of $22.12 billion for the quarter, compared to analysts’ expectations of $21.95 billion. Sysco had a net margin of 2.08% and a return on equity of 95.05%. The firm’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same quarter last year, the company earned $1.48 earnings per share. Sysco has set its FY 2027 guidance at 5.025-5.117 EPS and its Q1 2027 guidance at 1.180-1.200 EPS. Research analysts predict that Sysco will post 5.1 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on SYY shares. Citigroup lifted their price target on shares of Sysco from $82.00 to $86.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 5th. Weiss Ratings upgraded shares of Sysco from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday. Piper Sandler raised their price objective on Sysco from $77.00 to $84.00 and gave the stock a “neutral” rating in a report on Wednesday, August 5th. Melius Research cut Sysco from a “hold” rating to a “sell” rating in a research report on Tuesday, July 7th. Finally, Morgan Stanley boosted their target price on Sysco from $84.00 to $88.00 and gave the company an “equal weight” rating in a report on Thursday, July 16th. Nine research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Sysco presently has a consensus rating of “Moderate Buy” and a consensus price target of $89.50.

About Sysco

Sysco Corporation (NYSE: SYY) is a global foodservice distribution company that supplies a broad range of food and related products to restaurants, healthcare and educational facilities, lodging establishments, and other foodservice customers. Its core business is the procurement, warehousing and delivery of fresh, frozen and dry food products, complemented by non-food items such as paper goods, kitchen equipment, cleaning supplies and tabletop products. Sysco serves customers through an extensive network of distribution centers and dedicated delivery fleets, positioning itself as a one-stop supplier for operators of all sizes.

Founded in 1969 and headquartered in Houston, Texas, Sysco has grown through both organic expansion and acquisitions.