Wellington Management Group LLP Decreases Stake in Sysco Co. (NYSE:SYY)

Wellington Management Group LLP reduced its stake in Sysco Co. (NYSE:SYY - Free Report) by 0.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,850,400 shares of the company's stock after selling 31,174 shares during the period. Wellington Management Group LLP owned approximately 0.79% of Sysco worth $294,402,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Buckley Wealth Management LLC raised its holdings in Sysco by 0.8% in the 4th quarter. Buckley Wealth Management LLC now owns 18,188 shares of the company's stock worth $1,391,000 after acquiring an additional 150 shares during the last quarter. WR Wealth Planners LLC increased its holdings in shares of Sysco by 9.9% in the 4th quarter. WR Wealth Planners LLC now owns 4,270 shares of the company's stock worth $326,000 after purchasing an additional 386 shares in the last quarter. Clark & Stuart Inc purchased a new position in shares of Sysco in the fourth quarter worth $7,613,000. Kovitz Investment Group Partners LLC lifted its holdings in shares of Sysco by 76.0% during the third quarter. Kovitz Investment Group Partners LLC now owns 135,362 shares of the company's stock valued at $10,256,000 after purchasing an additional 58,430 shares in the last quarter. Finally, Atom Investors LP purchased a new stake in shares of Sysco during the third quarter valued at $2,726,000. 83.41% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

SYY has been the topic of a number of research analyst reports. Morgan Stanley lowered their price objective on shares of Sysco from $79.00 to $77.00 and set an "equal weight" rating on the stock in a research report on Wednesday, January 29th. Jefferies Financial Group increased their price target on Sysco from $91.00 to $95.00 and gave the company a "buy" rating in a report on Monday, December 16th. Melius Research raised Sysco to a "hold" rating in a report on Wednesday, December 18th. Truist Financial lowered their target price on Sysco from $85.00 to $83.00 and set a "buy" rating on the stock in a report on Wednesday, January 29th. Finally, Guggenheim reissued a "buy" rating and issued a $85.00 target price on shares of Sysco in a research report on Wednesday, January 29th. Four analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. According to MarketBeat, Sysco currently has an average rating of "Moderate Buy" and a consensus price target of $84.77.

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Sysco Price Performance

Shares of SYY traded down $0.04 during mid-day trading on Thursday, reaching $75.27. The stock had a trading volume of 5,029,569 shares, compared to its average volume of 3,291,318. The business has a fifty day moving average of $73.14 and a 200 day moving average of $75.10. The company has a debt-to-equity ratio of 5.66, a quick ratio of 0.68 and a current ratio of 1.20. The firm has a market cap of $36.82 billion, a price-to-earnings ratio of 19.35, a PEG ratio of 1.88 and a beta of 1.11. Sysco Co. has a 12 month low of $69.03 and a 12 month high of $82.23.

Sysco (NYSE:SYY - Get Free Report) last issued its quarterly earnings results 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 period last year, the firm posted $0.89 earnings per share. Equities analysts predict that Sysco Co. will post 4.58 EPS for the current year.

Sysco Dividend Announcement

The business also recently announced 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. This represents a $2.04 annualized dividend and a dividend yield of 2.71%. The ex-dividend date of this dividend is Friday, April 4th. Sysco's dividend payout ratio (DPR) is presently 52.44%.

Sysco Profile

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.