Sell Sysco (SYY)

04/07/2010 10:30 am EST


Jim Jubak

Founder and Editor,

I’m selling Sysco (SYY) out of my Dividend Income Portfolio with this post.

The stock made a new 52-week high yesterday, April 6. That brings the dividend yield down to 3.38%. That was attractive when the economy recovery still seemed iffy and I was willing to trade some yield for safety.

 But now that the recovery is more certain—if not the speed or momentum of the recovery (for more on those issues see my post --I’m willing to stretch a little more for yield. To do that I need to clear a slot in this 10-stock portfolio and that means selling Sysco.

 I’m looking at a 5.27% gain in the stock’s price since I added it to this portfolio on December 8. On April 23 I’ll also be collecting the 25 cents-a-share quarterly dividend that the company recently declared for shareholders of record as of April 1.

Related Articles on STOCKS

Keyword Image
Conoco: A Breakout in Energy
09/21/2018 5:00 am EST

Our daily breakout stock ideas are most suitable for aggressive investors seeking ideal entry points...