Sysco Corporation $SYY Holdings Lifted by Alliancebernstein L.P.

Key Points

• Alliancebernstein L.P. increased its position in Sysco Corporation by 3.4%, now owning approximately 0.13% of the company worth $45.93 million after acquiring additional shares.
• Sysco has recently declared a quarterly dividend of $0.54 per share, which represents a 2.6% yield, payable on October 24th to investors of record on October 3rd.
• Wall Street analysts have generally rated Sysco as a "Moderate Buy," with a consensus target price of $85.69 and several firms raising their price objectives recently.

Alliancebernstein L.P. grew its position in Sysco Corporation (NYSE:SYY - Free Report) by 3.4% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 612,084 shares of the company's stock after purchasing an additional 19,846 shares during the period. Alliancebernstein L.P. owned approximately 0.13% of Sysco worth $45,931,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Crestline Management LP bought a new position in shares of Sysco in the fourth quarter valued at approximately $229,000. Deutsche Bank AG boosted its holdings in shares of Sysco by 17.3% in the fourth quarter. Deutsche Bank AG now owns 1,409,097 shares of the company's stock valued at $107,740,000 after acquiring an additional 208,105 shares in the last quarter. First Manhattan CO. LLC. boosted its holdings in shares of Sysco by 77.5% in the fourth quarter. First Manhattan CO. LLC. now owns 21,071 shares of the company's stock valued at $1,611,000 after acquiring an additional 9,199 shares in the last quarter. KKM Financial LLC boosted its holdings in shares of Sysco by 3.3% in the fourth quarter. KKM Financial LLC now owns 31,423 shares of the company's stock valued at $2,403,000 after acquiring an additional 1,008 shares in the last quarter. Finally, JCP Investment Management LLC bought a new position in shares of Sysco in the fourth quarter valued at approximately $306,000. Institutional investors own 83.41% of the company's stock.

Insider Activity at Sysco

In related news, EVP Greg D. Bertrand sold 40,000 shares of the company's stock in a transaction that occurred on Tuesday, July 22nd. The shares were sold at an average price of $80.00, for a total value of $3,200,000.00. Following the completion of the sale, the executive vice president owned 56,304 shares in the company, valued at approximately $4,504,320. This represents a 41.54% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Ronald L. Phillips sold 7,351 shares of the company's stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $81.00, for a total transaction of $595,431.00. Following the completion of the sale, the executive vice president owned 41,837 shares of the company's stock, valued at approximately $3,388,797. This trade represents a 14.94% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 91,377 shares of company stock valued at $7,361,490. 0.54% of the stock is owned by insiders.

Sysco Stock Down 0.1%

Shares of NYSE:SYY opened at $82.45 on Monday. The company has a debt-to-equity ratio of 6.75, a quick ratio of 0.70 and a current ratio of 1.21. The company has a market cap of $39.97 billion, a PE ratio of 22.11, a price-to-earnings-growth ratio of 2.55 and a beta of 0.80. Sysco Corporation has a 52 week low of $67.12 and a 52 week high of $83.17. The firm has a 50 day simple moving average of $79.29 and a 200 day simple moving average of $75.12.

Sysco (NYSE:SYY - Get Free Report) last issued its quarterly earnings results on Tuesday, July 29th. The company reported $1.48 EPS for the quarter, beating the consensus estimate of $1.39 by $0.09. The business had revenue of $21.14 billion during the quarter, compared to the consensus estimate of $21.01 billion. Sysco had a net margin of 2.25% and a return on equity of 109.52%. The firm's quarterly revenue was up 2.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.39 EPS. Sysco has set its FY 2026 guidance at 4.500-4.600 EPS. As a group, research analysts expect that Sysco Corporation 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, October 24th. Investors of record on Friday, October 3rd will be given a $0.54 dividend. This represents a $2.16 annualized dividend and a dividend yield of 2.6%. The ex-dividend date is Friday, October 3rd. Sysco's dividend payout ratio is 57.91%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. Barclays increased their price objective on shares of Sysco from $77.00 to $82.00 and gave the company an "overweight" rating in a report on Wednesday, July 30th. Wall Street Zen upgraded shares of Sysco from a "hold" rating to a "buy" rating in a report on Saturday, August 30th. Guggenheim raised their target price on shares of Sysco from $85.00 to $87.00 and gave the stock a "buy" rating in a report on Wednesday, August 6th. UBS Group set a $90.00 target price on shares of Sysco in a report on Wednesday, July 30th. Finally, Truist Financial raised their target price on shares of Sysco from $81.00 to $90.00 and gave the stock a "buy" rating in a report on Wednesday, July 30th. Ten research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $85.69.

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.

Want to see what other hedge funds are holding SYY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Sysco Corporation (NYSE:SYY - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.