Penserra Capital Management LLC Raises Stock Holdings in Sysco Corporation (NYSE:SYY)

Penserra Capital Management LLC increased its holdings in Sysco Corporation (NYSE:SYY - Free Report) by 770.0% in the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 11,188 shares of the company's stock after buying an additional 9,902 shares during the quarter. Penserra Capital Management LLC's holdings in Sysco were worth $839,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. Rialto Wealth Management LLC grew its stake in shares of Sysco by 188.7% during the 1st quarter. Rialto Wealth Management LLC now owns 332 shares of the company's stock valued at $25,000 after purchasing an additional 217 shares during the period. Parvin Asset Management LLC bought a new stake in shares of Sysco during the 4th quarter valued at about $29,000. Flagship Wealth Advisors LLC bought a new stake in shares of Sysco during the 4th quarter valued at about $31,000. Golden State Wealth Management LLC grew its stake in shares of Sysco by 48.4% during the 1st quarter. Golden State Wealth Management LLC now owns 429 shares of the company's stock valued at $32,000 after purchasing an additional 140 shares during the period. Finally, Capital A Wealth Management LLC bought a new stake in shares of Sysco during the 4th quarter valued at about $34,000. 83.41% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on SYY shares. Guggenheim restated a "buy" rating and set a $82.00 price target on shares of Sysco in a research note on Tuesday. Wells Fargo & Company cut their price target on Sysco from $87.00 to $80.00 and set an "overweight" rating for the company in a research note on Wednesday, April 30th. UBS Group cut their price target on Sysco from $86.00 to $83.00 and set a "buy" rating for the company in a research note on Wednesday, April 30th. Citigroup started coverage on Sysco in a research note on Thursday, May 22nd. They set a "neutral" rating and a $78.00 price objective for the company. Finally, Sanford C. Bernstein set a $87.00 price objective on Sysco and gave the company an "overweight" rating in a research note on Tuesday, April 22nd. Four equities 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 a consensus rating of "Moderate Buy" and a consensus price target of $82.77.

Insider Buying and Selling

In other news, Director Sheila Talton sold 356 shares of the company's stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $70.84, for a total transaction of $25,219.04. Following the sale, the director directly owned 12,738 shares of the company's stock, valued at $902,359.92. This represents a 2.72% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.54% of the company's stock.

Sysco Price Performance

NYSE SYY traded down $0.66 during trading hours on Friday, reaching $76.80. The company's stock had a trading volume of 3,049,106 shares, compared to its average volume of 3,237,308. The firm's 50-day moving average price is $73.90 and its 200-day moving average price is $73.30. The company has a quick ratio of 0.76, a current ratio of 1.26 and a debt-to-equity ratio of 6.37. Sysco Corporation has a 1 year low of $67.12 and a 1 year high of $82.23. The company has a market capitalization of $37.23 billion, a price-to-earnings ratio of 19.90, a PEG ratio of 2.33 and a beta of 0.81.

Sysco (NYSE:SYY - Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The company reported $0.96 EPS for the quarter, missing analysts' consensus estimates of $1.02 by ($0.06). Sysco had a return on equity of 107.96% and a net margin of 2.36%. The business had revenue of $19.60 billion during the quarter, compared to analysts' expectations of $20.11 billion. During the same period in the prior year, the firm posted $0.96 earnings per share. The firm's revenue for the quarter was up 1.1% on a year-over-year basis. On average, equities research analysts predict that Sysco Corporation will post 4.58 EPS for the current fiscal year.

Sysco Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 25th. Investors of record on Thursday, July 3rd will be issued a $0.54 dividend. The ex-dividend date is Thursday, July 3rd. This is a boost from Sysco's previous quarterly dividend of $0.51. This represents a $2.16 dividend on an annualized basis and a yield of 2.81%. Sysco's payout ratio is currently 55.96%.

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.