Sysco Corporation, through its subsidiaries, engages in the marketing and distribution of a range of food and related products primarily for foodservice industry in the United States and Canada. Related Articles:
The weak economy has led to weak consumer discretionary spending. In 2009, 62% of SYY’s sales were to restaurants; thus they have felt the full brunt of the downturn. This has carried over to the company’s financials. With a 116% free cash flow payout, SYY is treading water hoping the economy will turn soon. Although SYY is trading close to my buy price of $30.59, I plan to wait on its free cash flow payout to improve before adding to my position.
Source: Dividends Value
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