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Sysco said on August 24, 2023 that its board of directors declared a regular quarterly dividend of $0.50 per share ($2.00 annualized). Previously, the company paid $0.50 per share.

Shares must be purchased before the ex-div date of October 5, 2023 to qualify for the dividend. Shareholders of record as of October 6, 2023 will receive the payment on October 27, 2023.

At the current share price of $69.76 / share, the stock's dividend yield is 2.87%.

Looking back five years and taking a sample every week, the average dividend yield has been 2.48%, the lowest has been 1.92%, and the highest has been 4.96%. The standard deviation of yields is 0.43 (n=236).

The current dividend yield is 0.90 standard deviations above the historical average.

Additionally, the company's dividend payout ratio is 0.57. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.

The company's 3-Year dividend growth rate is 0.11%, demonstrating that it has increased its dividend over time.

What is the Fund Sentiment?

There are 2201 funds or institutions reporting positions in Sysco. This is a decrease of 35 owner(s) or 1.57% in the last quarter. Average portfolio weight of all funds dedicated to SYY is 0.32%, a decrease of 14.19%. Total shares owned by institutions decreased in the last three months by 5.47% to 479,941K shares.

The put/call ratio of SYY is 0.50, indicating a bullish outlook.

Analyst Price Forecast Suggests 25.75% Upside

As of August 2, 2023, the average one-year price target for Sysco is 87.72. The forecasts range from a low of 79.79 to a high of $97.65. The average price target represents an increase of 25.75% from its latest reported closing price of 69.76.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for Sysco is 80,236MM, an increase of 5.12%. The projected annual non-GAAP EPS is 4.78.

What are Other Shareholders Doing?

Wellington Management Group Llp holds 23,404K shares representing 4.63% ownership of the company. In it's prior filing, the firm reported owning 32,537K shares, representing a decrease of 39.02%. The firm decreased its portfolio allocation in SYY by 34.05% over the last quarter.

VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 15,708K shares representing 3.11% ownership of the company. In it's prior filing, the firm reported owning 15,399K shares, representing an increase of 1.97%. The firm decreased its portfolio allocation in SYY by 4.85% over the last quarter.

VWELX - VANGUARD WELLINGTON FUND Investor Shares holds 15,297K shares representing 3.03% ownership of the company. In it's prior filing, the firm reported owning 15,841K shares, representing a decrease of 3.55%. The firm decreased its portfolio allocation in SYY by 10.39% over the last quarter.

Jpmorgan Chase holds 14,664K shares representing 2.90% ownership of the company. In it's prior filing, the firm reported owning 15,736K shares, representing a decrease of 7.31%. The firm increased its portfolio allocation in SYY by 536.04% over the last quarter.

Parnassus Investments holds 13,660K shares representing 2.70% ownership of the company. In it's prior filing, the firm reported owning 13,603K shares, representing an increase of 0.42%. The firm decreased its portfolio allocation in SYY by 9.62% over the last quarter.

Sysco Background Information
(This description is provided by the company.)

Sysco is the global leader in selling, marketing and distributing food products to restaurants, healthcare and educational facilities, lodging establishments and other customers who prepare meals away from home. Its family of products also includes equipment and supplies for the foodservice and hospitality industries. With more than 57,000 associates, the company operates 326 distribution facilities worldwide and serves more than 625,000 customer locations. For fiscal 2020 that ended June 27, 2020, the company generated sales of more than $52 billion.

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