5 Best Dividend Aristocrat Stocks To Buy Heading Into Recession

3. Sysco Corporation (NYSE:SYY)

Number of Hedge Fund Holders: 25

Dividend Yield as of May 6: 2.38%

Number of Years of Consecutive Dividend Increases: 54

Sysco Corporation (NYSE:SYY) is an American provider of food-away-from-home services. The company also offers food products and kitchen equipment to restaurants, healthcare and educational facilities, and hospitality businesses. Sysco Corporation (NYSE:SYY) has paid consistently increasing dividends to shareholders for 54 years. 

On April 28, Sysco Corporation (NYSE:SYY) declared a $0.49 per share quarterly dividend, a 4.3% increase from its earlier dividend of $0.47. The dividend will be paid on July 22, to shareholders of record on July 1. Sysco Corporation (NYSE:SYY)’s  dividend yield on May 6 was 2.38%. 

Barclays analyst Jeffrey Bernstein maintained an Overweight rating on Sysco Corporation (NYSE:SYY) and raised the firm’s price target on the stock to $100 from $90 on April 25. The analyst believes restaurants are well positioned in a slowing economy. He expects ongoing fundamental outperformance from more defensive franchise names.

Among the hedge funds tracked by Insider Monkey, Sysco Corporation (NYSE:SYY) was found in the public stock portfolios of 25 funds, compared to 29 funds in the last quarter. Nelson Peltz’s Trian Partners is the biggest shareholder of the company, with 12.85 million shares worth $1 billion.