Sysco Corp. (SYY) Declares Quarterly Dividend of $0.29
Sysco Corp. (NYSE:SYY) declared a quarterly dividend on Friday, August 22nd, AnalystRatingsNetwork reports. Shareholders of record on Friday, October 3rd will be given a dividend of 0.29 per share on Friday, October 24th. This represents a $1.16 dividend on an annualized basis and a yield of 3.08%.
A number of research firms have recently commented on SYY. Analysts at Citigroup Inc. reiterated a “neutral” rating on shares of Sysco Corp. in a research note on Monday. They now have a $39.00 price target on the stock, down previously from $40.00. On the ratings front, analysts at Zacks reiterated a “neutral” rating on shares of Sysco Corp. in a research note on Thursday, August 14th. They now have a $40.00 price target on the stock. Finally, analysts at Jefferies Group reiterated a “hold” rating on shares of Sysco Corp. in a research note on Thursday, July 24th. They now have a $35.00 price target on the stock, down previously from $40.00. Six investment analysts have rated the stock with a hold rating, The stock presently has a consensus rating of “Hold” and a consensus price target of $36.75.
Shares of Sysco Corp. (NYSE:SYY) traded down 0.15% during mid-day trading on Friday, hitting $37.605. The stock had a trading volume of 388,439 shares. Sysco Corp. has a 52-week low of $31.13 and a 52-week high of $43.40. The stock’s 50-day moving average is $36.84 and its 200-day moving average is $36.50. The company has a market cap of $22.041 billion and a P/E ratio of 23.84.
Sysco Corp. (NYSE:SYY) last released its earnings data on Monday, August 11th. The company reported $0.50 earnings per share for the quarter, meeting the analysts’ consensus estimate of $0.50. The company had revenue of $12.29 billion for the quarter, compared to the consensus estimate of $12.14 billion. During the same quarter last year, the company posted $0.50 earnings per share. Sysco Corp.’s revenue was up 5.9% compared to the same quarter last year. On average, analysts predict that Sysco Corp. will post $1.88 earnings per share for the current fiscal year.
Sysco Corporation (NYSE:SYY), along with its subsidiaries and divisions, is a North American distributor of food and related products primarily to the foodservice or food-away-from-home industry.
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