5 Best Stocks for Dividends

4. Sysco Corporation (NYSE:SYY)

Dividend Yield as of September 27: 2.66%

Sysco Corporation (NYSE:SYY) is a Texas-based multinational corporation that is involved in the distribution and marketing of food products and different kitchen equipment. In fiscal Q4 2022, the company generated over $1 billion in operating cash flow, up from $424 million during the same period last year. Its free cash flow for the quarter came in at over $740 million, compared with $204.5 million in the prior-year quarter. During the year, the company paid over $1.5 billion to shareholders, of which $959 million represented dividend payments.

Sysco Corporation (NYSE:SYY) is a Dividend King, having raised its dividends consistently for the past 53 years. It currently offers $0.49 per share in quarterly dividends and has a dividend yield of 2.66%, as recorded on September 27.

In September, Stephens appreciated Sysco Corporation’s (NYSE:SYY) investments in its brand, inventory, and technology tools as compared to the broader industry. In view of this, the firm initiated its coverage with an Overweight rating and a $90 price target.

As of the close of Q2 2022, 32 hedge funds reported owning stakes in Sysco Corporation (NYSE:SYY), up from 31 a quarter earlier, according to Insider Monkey’s data. These stakes hold a consolidated value of over $1.5 billion.