5 Dividend Growth Stocks to Buy

4. Sysco Corporation (NYSE: SYY)

Number of Hedge Fund Holders: 40
Dividend Yield: 2.34%

Sysco Corporation (NYSE: SYY), a food distributor and consumer staples company, engages in the marketing and distribution of food and related products in the US, Canada, the UK, France, and across the globe. The company ranks 4th on our list of dividend growth stocks to buy and operates through its U.S. Foodservice Operations, International Foodservice Operations, SYGMA, and Other segments.

This July, UBS analysts initiated coverage of Sysco Corporation (NYSE: SYY) shares with a Buy rating. The firm also holds an $89 price target on the stock.

In the second quarter of 2021, Sysco Corporation (NYSE: SYY) had an EPS of $0.71, beating estimates by $0.11. The company’s revenue was $16.14 billion, up 82% year over year and also beating estimates by about $1.49 billion. Sysco Corporation (NYSE: SYY) has gained 1.83% in the past 6 months and 11.30% year to date.

By the end of the second quarter of 2021, 40 hedge funds out of the 873 tracked by Insider Monkey held stakes in Sysco Corporation (NYSE: SYY) worth roughly $2.6 billion. This is compared to 42 hedge funds in the previous quarter with a total stake value of approximately $2.7 billion.