Sysco Corporation (NYSE:SYY) Stake Boosted by Board of the Pension Protection Fund

Board of the Pension Protection Fund lifted its stake in Sysco Corporation (NYSE:SYY - Free Report) by 66.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 14,000 shares of the company's stock after acquiring an additional 5,600 shares during the quarter. Sysco makes up 1.2% of Board of the Pension Protection Fund's portfolio, making the stock its 12th biggest holding. Board of the Pension Protection Fund's holdings in Sysco were worth $1,051,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of SYY. Vanguard Group Inc. lifted its position in shares of Sysco by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 61,519,424 shares of the company's stock worth $4,703,775,000 after buying an additional 429,711 shares during the last quarter. Invesco Ltd. raised its stake in shares of Sysco by 5.3% in the 4th quarter. Invesco Ltd. now owns 16,907,541 shares of the company's stock valued at $1,292,751,000 after acquiring an additional 851,441 shares in the last quarter. Boston Partners lifted its holdings 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 purchasing an additional 7,184,754 shares during the last quarter. Geode Capital Management LLC boosted its position in Sysco by 2.0% during the fourth quarter. Geode Capital Management LLC now owns 11,868,965 shares of the company's stock worth $905,120,000 after purchasing an additional 233,885 shares during the period. Finally, Capital Research Global Investors grew its holdings in Sysco by 27.3% during the fourth quarter. Capital Research Global Investors now owns 8,991,476 shares of the company's stock valued at $687,488,000 after purchasing an additional 1,928,002 shares during the last quarter. Institutional investors and hedge funds own 83.41% of the company's stock.

Sysco Stock Down 0.6%

SYY opened at $74.59 on Friday. The firm has a market cap of $36.16 billion, a price-to-earnings ratio of 19.32, a PEG ratio of 2.43 and a beta of 0.81. The company has a debt-to-equity ratio of 6.37, a quick ratio of 0.76 and a current ratio of 1.26. The firm's 50-day simple moving average is $72.73 and its 200-day simple moving average is $73.43. Sysco Corporation has a twelve month low of $67.12 and a twelve month high of $82.23.

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). The firm had revenue of $19.60 billion for the quarter, compared to analyst estimates of $20.11 billion. Sysco had a return on equity of 107.96% and a net margin of 2.36%. The business's quarterly revenue was up 1.1% on a year-over-year basis. During the same period in the previous year, the business posted $0.96 EPS. Equities research analysts anticipate that Sysco Corporation will post 4.58 EPS for the current fiscal 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 paid a $0.54 dividend. The ex-dividend date is Thursday, July 3rd. This is a positive change from Sysco's previous quarterly dividend of $0.51. This represents a $2.16 dividend on an annualized basis and a dividend yield of 2.90%. Sysco's dividend payout ratio (DPR) is 52.85%.

Analyst Upgrades and Downgrades

SYY has been the subject of several recent analyst reports. BMO Capital Markets decreased their price objective on shares of Sysco from $82.00 to $77.00 and set an "outperform" rating for the company in a report on Wednesday, April 30th. UBS Group cut their price objective on Sysco from $86.00 to $83.00 and set a "buy" rating for the company in a research report on Wednesday, April 30th. Barclays lowered their target price on Sysco from $87.00 to $77.00 and set an "overweight" rating on the stock in a report on Wednesday, April 30th. Wall Street Zen lowered Sysco from a "strong-buy" rating to a "buy" rating in a report on Thursday, March 20th. Finally, Sanford C. Bernstein set a $87.00 price objective on Sysco and gave the company an "overweight" rating in a research report on Tuesday, April 22nd. Four analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $83.00.

Insider Activity at Sysco

In other Sysco news, Director Sheila Talton sold 356 shares of the business's stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $70.84, for a total value of $25,219.04. Following the completion of the transaction, the director now directly owns 12,738 shares of the company's stock, valued at approximately $902,359.92. The trade was a 2.72% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.54% of the stock is currently owned by company insiders.

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.

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.