Alliancebernstein L.P. Sells 8,776 Shares of Sysco Co. (NYSE:SYY)

Alliancebernstein L.P. lessened its stake in shares of Sysco Co. (NYSE:SYY) by 1.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 592,238 shares of the company’s stock after selling 8,776 shares during the quarter. Alliancebernstein L.P. owned 0.12% of Sysco worth $45,283,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of SYY. Stonebridge Financial Group LLC bought a new position in Sysco during the 4th quarter valued at about $31,000. Sherman Asset Management Inc. acquired a new stake in Sysco during the 4th quarter valued at $31,000. Flagship Wealth Advisors LLC acquired a new position in Sysco in the fourth quarter worth $31,000. SRS Capital Advisors Inc. grew its holdings in shares of Sysco by 53.0% during the fourth quarter. SRS Capital Advisors Inc. now owns 430 shares of the company’s stock worth $33,000 after purchasing an additional 149 shares during the last quarter. Finally, HHM Wealth Advisors LLC increased its stake in shares of Sysco by 107.4% in the fourth quarter. HHM Wealth Advisors LLC now owns 620 shares of the company’s stock valued at $47,000 after buying an additional 321 shares in the last quarter. Institutional investors own 83.41% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have commented on the stock. JPMorgan Chase & Co. decreased their price objective on shares of Sysco from $86.00 to $82.00 and set an “overweight” rating on the stock in a report on Tuesday, February 4th. UBS Group lowered their price target on shares of Sysco from $87.00 to $86.00 and set a “buy” rating for the company in a report on Wednesday, January 29th. Truist Financial dropped their price objective on shares of Sysco from $85.00 to $83.00 and set a “buy” rating for the company in a research report on Wednesday, January 29th. StockNews.com lowered Sysco from a “strong-buy” rating to a “buy” rating in a research report on Thursday, March 20th. Finally, Melius began coverage on Sysco in a research report on Wednesday, December 18th. They set a “hold” rating and a $85.00 target price for the company. Four investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $84.77.

Sysco Price Performance

SYY stock opened at $71.41 on Friday. The stock has a 50-day moving average price of $73.07 and a two-hundred day moving average price of $75.04. Sysco Co. has a 1 year low of $69.03 and a 1 year high of $82.23. The stock has a market cap of $34.94 billion, a PE ratio of 18.36, a price-to-earnings-growth ratio of 1.88 and a beta of 0.91. The company has a current ratio of 1.20, a quick ratio of 0.68 and a debt-to-equity ratio of 5.66.

Sysco (NYSE:SYY) last posted its quarterly earnings data on Tuesday, January 28th. The company reported $0.93 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.93. Sysco had a return on equity of 106.30% and a net margin of 2.40%. During the same quarter in the prior year, the firm earned $0.89 earnings per share. Equities analysts forecast that Sysco Co. will post 4.58 EPS for the current fiscal year.

Sysco Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Friday, April 4th will be issued a $0.51 dividend. The ex-dividend date is Friday, April 4th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.86%. Sysco’s dividend payout ratio (DPR) is presently 52.44%.

About Sysco

Sysco Corporation, through its subsidiaries, engages in the marketing and distribution of various food and related products to the foodservice or food-away-from-home industry in the United States, Canada, the United Kingdom, France, and internationally. It operates through U.S. Foodservice Operations, International Foodservice Operations, SYGMA, and Other segments.