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

Alliancebernstein L.P. trimmed its stake in Sysco Co. (NYSE:SYY) by 1.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 592,238 shares of the company’s stock after selling 8,776 shares during the quarter. Alliancebernstein L.P.’s holdings in Sysco were worth $45,283,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in SYY. Fortem Financial Group LLC grew its stake in shares of Sysco by 3.6% in the fourth quarter. Fortem Financial Group LLC now owns 3,875 shares of the company’s stock valued at $296,000 after buying an additional 136 shares in the last quarter. MV Capital Management Inc. lifted its stake in Sysco by 0.4% in the fourth quarter. MV Capital Management Inc. now owns 34,330 shares of the company’s stock valued at $2,625,000 after acquiring an additional 144 shares during the last quarter. Morton Community Bank grew its position in shares of Sysco by 0.4% in the 4th quarter. Morton Community Bank now owns 40,585 shares of the company’s stock valued at $3,103,000 after acquiring an additional 145 shares during the period. SRS Capital Advisors Inc. increased its stake in shares of Sysco by 53.0% during the 4th 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, FineMark National Bank & Trust raised its holdings in shares of Sysco by 1.8% in the 4th quarter. FineMark National Bank & Trust now owns 8,580 shares of the company’s stock valued at $656,000 after purchasing an additional 149 shares during the period. Institutional investors and hedge funds own 83.41% of the company’s stock.

Sysco Stock Performance

Shares of NYSE:SYY opened at $71.41 on Friday. The company has a quick ratio of 0.68, a current ratio of 1.20 and a debt-to-equity ratio of 5.66. Sysco Co. has a 12-month low of $69.03 and a 12-month high of $82.23. The company’s 50 day moving average price is $73.07 and its two-hundred day moving average price is $75.04. The firm has a market cap of $34.94 billion, a PE ratio of 18.36, a PEG ratio of 1.88 and a beta of 0.91.

Sysco (NYSE:SYY) last announced its quarterly earnings data on Tuesday, January 28th. The company reported $0.93 earnings per share for the quarter, meeting the consensus estimate of $0.93. Sysco had a return on equity of 106.30% and a net margin of 2.40%. During the same period in the previous year, the firm posted $0.89 earnings per share. Equities research analysts predict that Sysco Co. will post 4.58 earnings per share for the current year.

Sysco Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Friday, April 4th will be issued a $0.51 dividend. This represents a $2.04 annualized dividend and a yield of 2.86%. The ex-dividend date of this dividend is Friday, April 4th. Sysco’s dividend payout ratio is currently 52.44%.

Analysts Set New Price Targets

A number of equities analysts recently commented on SYY shares. UBS Group reduced their price target on Sysco from $87.00 to $86.00 and set a “buy” rating for the company in a report on Wednesday, January 29th. Barclays reduced their target price on Sysco from $93.00 to $85.00 and set an “overweight” rating for the company in a research note on Wednesday, January 29th. Guggenheim restated a “buy” rating and issued a $85.00 price target on shares of Sysco in a research note on Wednesday, January 29th. StockNews.com downgraded shares of Sysco from a “strong-buy” rating to a “buy” rating in a report on Thursday, March 20th. Finally, JPMorgan Chase & Co. cut their target price on shares of Sysco from $86.00 to $82.00 and set an “overweight” rating for the company in a research note on Tuesday, February 4th. Four research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $84.77.

Sysco Company 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.