Penserra Capital Management LLC Increases Stock Position in Sysco Corporation (NYSE:SYY)

Penserra Capital Management LLC boosted its holdings in Sysco Corporation (NYSE:SYY - Free Report) by 770.0% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,188 shares of the company's stock after buying an additional 9,902 shares during the period. Penserra Capital Management LLC's holdings in Sysco were worth $839,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Boston Partners increased its stake in Sysco by 143.7% in the 4th quarter. Boston Partners now owns 12,184,114 shares of the company's stock worth $930,296,000 after acquiring an additional 7,184,754 shares during the last quarter. Norges Bank purchased a new stake in Sysco during the fourth quarter valued at about $450,441,000. Capital Research Global Investors lifted its stake in Sysco by 27.3% during the fourth quarter. Capital Research Global Investors now owns 8,991,476 shares of the company's stock worth $687,488,000 after purchasing an additional 1,928,002 shares during the last quarter. Mondrian Investment Partners LTD purchased a new position in shares of Sysco in the 4th quarter worth about $123,928,000. Finally, Canoe Financial LP raised its holdings in shares of Sysco by 29,610.4% during the 1st quarter. Canoe Financial LP now owns 1,431,149 shares of the company's stock valued at $107,393,000 after buying an additional 1,426,332 shares in the last quarter. Institutional investors own 83.41% of the company's stock.

Insider Buying and Selling at Sysco

In other news, Director Sheila Talton sold 356 shares of the business'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 value of $25,219.04. Following the sale, the director directly owned 12,738 shares of the company's stock, valued at $902,359.92. The trade was a 2.72% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 0.54% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. Citigroup initiated coverage on shares of Sysco in a research report on Thursday, May 22nd. They set a "neutral" rating and a $78.00 price target on the stock. Sanford C. Bernstein set a $87.00 target price on shares of Sysco and gave the stock an "overweight" rating in a research report on Tuesday, April 22nd. UBS Group cut their price target on shares of Sysco from $86.00 to $83.00 and set a "buy" rating for the company in a research report on Wednesday, April 30th. Wall Street Zen raised Sysco from a "hold" rating to a "buy" rating in a research note on Saturday, July 5th. Finally, Wells Fargo & Company dropped their target price on Sysco from $87.00 to $80.00 and set an "overweight" rating for the company in a report on Wednesday, April 30th. Four equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, Sysco currently has a consensus rating of "Moderate Buy" and an average target price of $82.77.

Sysco Trading Up 1.5%

NYSE SYY traded up $1.14 during trading on Thursday, hitting $77.47. The company had a trading volume of 2,435,158 shares, compared to its average volume of 3,234,184. The company's fifty day moving average is $73.63 and its 200-day moving average is $73.30. Sysco Corporation has a one year low of $67.12 and a one year high of $82.23. The company has a current ratio of 1.26, a quick ratio of 0.76 and a debt-to-equity ratio of 6.37. The company has a market cap of $37.55 billion, a price-to-earnings ratio of 20.07, a price-to-earnings-growth ratio of 2.31 and a beta of 0.81.

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

Sysco Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 25th. Stockholders of record on Thursday, July 3rd will be given a $0.54 dividend. The ex-dividend date of this dividend is Thursday, July 3rd. This is an increase from Sysco's previous quarterly dividend of $0.51. This represents a $2.16 dividend on an annualized basis and a dividend yield of 2.79%. Sysco's dividend 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.