Sysco Co. (NYSE:SYY) Stake Reduced by Alliancebernstein L.P.

Alliancebernstein L.P. trimmed its position in shares of Sysco Co. (NYSE:SYY - Free Report) by 1.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 592,238 shares of the company's stock after selling 8,776 shares during the period. Alliancebernstein L.P. owned about 0.12% of Sysco worth $45,283,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in SYY. Vanguard Group Inc. grew its stake in Sysco by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 61,519,424 shares of the company's stock worth $4,703,775,000 after acquiring an additional 429,711 shares in the last quarter. Boston Partners lifted its position in Sysco by 143.7% during the fourth quarter. Boston Partners now owns 12,184,114 shares of the company's stock valued at $930,296,000 after acquiring an additional 7,184,754 shares during the last quarter. Diamond Hill Capital Management Inc. lifted its position in Sysco by 7.8% during the fourth quarter. Diamond Hill Capital Management Inc. now owns 7,206,978 shares of the company's stock valued at $551,046,000 after acquiring an additional 521,431 shares during the last quarter. Norges Bank purchased a new position in shares of Sysco in the fourth quarter worth $450,441,000. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Sysco by 3.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,038,654 shares of the company's stock worth $232,335,000 after buying an additional 91,828 shares during the last quarter. 83.41% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have recently weighed in on SYY. Melius began coverage on shares of Sysco in a research note on Wednesday, December 18th. They issued a "hold" rating and a $85.00 price objective on the stock. Melius Research upgraded shares of Sysco to a "hold" rating in a research report on Wednesday, December 18th. Truist Financial decreased their price objective on shares of Sysco from $85.00 to $83.00 and set a "buy" rating on the stock in a report on Wednesday, January 29th. Guggenheim reaffirmed a "buy" rating and set a $85.00 price objective on shares of Sysco in a report on Wednesday, January 29th. Finally, Jefferies Financial Group increased their price objective on shares of Sysco from $91.00 to $95.00 and gave the company a "buy" rating in a report on Monday, December 16th. Four investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, Sysco presently has an average rating of "Moderate Buy" and a consensus price target of $84.77.

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Sysco Trading Down 2.2 %

Shares of SYY stock traded down $1.56 during trading hours on Thursday, hitting $69.52. 585,305 shares of the company were exchanged, compared to its average volume of 3,304,962. The firm has a market cap of $34.01 billion, a PE ratio of 17.85, a PEG ratio of 1.88 and a beta of 0.91. Sysco Co. has a 1 year low of $67.12 and a 1 year high of $82.23. The company has a quick ratio of 0.68, a current ratio of 1.20 and a debt-to-equity ratio of 5.66. The firm has a fifty day moving average of $72.68 and a 200 day moving average of $74.85.

Sysco (NYSE:SYY - Get Free Report) last issued its quarterly earnings data on Tuesday, January 28th. The company reported $0.93 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.93. Sysco had a net margin of 2.40% and a return on equity of 106.30%. During the same period in the prior year, the business earned $0.89 earnings per share. Analysts expect that Sysco Co. will post 4.58 earnings per share for the current year.

Sysco Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Friday, April 4th will be issued a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a dividend yield of 2.93%. The ex-dividend date of this dividend is Friday, April 4th. Sysco's dividend payout ratio (DPR) is 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.