Sysco Co. (NYSE:SYY) Announces $0.51 Quarterly Dividend

Sysco Co. (NYSE:SYY - Get Free Report) announced a quarterly dividend on Thursday, February 27th, RTT News reports. Stockholders of record on Friday, April 4th will be paid a dividend of 0.51 per share on Friday, April 25th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.70%. The ex-dividend date of this dividend is Friday, April 4th.

Sysco has increased its dividend payment by an average of 3.0% annually over the last three years and has raised its dividend annually for the last 56 consecutive years. Sysco has a dividend payout ratio of 41.1% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Sysco to earn $4.94 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 41.3%.

Sysco Stock Performance

Shares of NYSE:SYY traded up $0.07 during trading on Monday, reaching $75.61. 3,373,828 shares of the stock were exchanged, compared to its average volume of 3,758,998. Sysco has a 12 month low of $69.03 and a 12 month high of $82.33. The firm has a market cap of $36.99 billion, a PE ratio of 19.44, a PEG ratio of 1.88 and a beta of 1.17. The stock has a 50-day moving average price of $73.63 and a 200-day moving average price of $75.64. The company has a current ratio of 1.20, a quick ratio of 0.68 and a debt-to-equity ratio of 5.66.

Sysco (NYSE:SYY - Get Free Report) last issued its quarterly earnings data on Tuesday, January 28th. The company reported $0.93 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.93. Sysco had a return on equity of 106.30% and a net margin of 2.40%. During the same quarter in the previous year, the firm earned $0.89 earnings per share. Research analysts expect that Sysco will post 4.58 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, SVP Eve M. Mcfadden sold 6,499 shares of the company's stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $80.00, for a total transaction of $519,920.00. Following the completion of the transaction, the senior vice president now directly owns 48,451 shares in the company, valued at approximately $3,876,080. This represents a 11.83 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Greg D. Bertrand sold 48,027 shares of the company's stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $77.00, for a total transaction of $3,698,079.00. Following the transaction, the executive vice president now owns 56,304 shares of the company's stock, valued at $4,335,408. This trade represents a 46.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 76,370 shares of company stock worth $5,965,519 over the last three months. Insiders own 0.54% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on SYY shares. Melius Research upgraded Sysco to a "hold" rating in a research note on Wednesday, December 18th. Truist Financial cut their price target on Sysco from $85.00 to $83.00 and set a "buy" rating for the company in a research note on Wednesday, January 29th. UBS Group cut their price target on Sysco from $87.00 to $86.00 and set a "buy" rating for the company in a research note on Wednesday, January 29th. Morgan Stanley cut their price target on Sysco from $79.00 to $77.00 and set an "equal weight" rating for the company in a research note on Wednesday, January 29th. Finally, JPMorgan Chase & Co. cut their price target on Sysco from $86.00 to $82.00 and set an "overweight" rating for the company in a research note on Tuesday, February 4th. Four research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, Sysco has a consensus rating of "Moderate Buy" and a consensus price target of $84.77.

Sysco Company Profile

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.