Today, Penserra Capital Management LLC Increases Position in Sysco Corp. (SYY)

Today, Penserra Capital Management LLC Increases Position in Sysco Corp. (SYY)
Penserra Capital Management LLC increased its stake in shares of Sysco Corp. (NYSE:SYY) by 29.3% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 14,710 shares of the company’s stock after buying an additional 3,336 shares during the period. Penserra Capital Management LLC’s holdings in Sysco Corp. were worth $720,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the stock. Kistler Tiffany Companies LLC boosted its stake in Sysco Corp. by 0.5% in the second quarter. Kistler Tiffany Companies LLC now owns 2,866 shares of the company’s stock valued at $145,000 after buying an additional 13 shares during the last quarter. Blue Chip Partners Inc. boosted its position in shares of Sysco Corp. by 0.7% in the second quarter. Blue Chip Partners Inc. now owns 2,894 shares of the company’s stock worth $147,000 after buying an additional 19 shares in the last quarter. Segment Wealth Management LLC boosted its position in shares of Sysco Corp. by 0.5% in the third quarter. Segment Wealth Management LLC now owns 5,047 shares of the company’s stock worth $247,000 after buying an additional 23 shares in the last quarter. Oakworth Capital Inc. boosted its position in shares of Sysco Corp. by 0.9% in the third quarter. Oakworth Capital Inc. now owns 3,888 shares of the company’s stock worth $191,000 after buying an additional 34 shares in the last quarter. Finally, Hanson McClain Inc. boosted its position in shares of Sysco Corp. by 1.1% in the second quarter. Hanson McClain Inc. now owns 4,244 shares of the company’s stock worth $215,000 after buying an additional 45 shares in the last quarter. Institutional investors and hedge funds own 76.18% of the company’s stock.

Shares of Sysco Corp. (NYSE:SYY) traded up 0.69% during mid-day trading on Friday, hitting $53.93. 1,260,251 shares of the company were exchanged. The company’s 50-day moving average price is $49.97 and its 200-day moving average price is $50.40. Sysco Corp. has a 12-month low of $38.84 and a 12-month high of $54.66. The firm has a market capitalization of $29.50 billion, a P/E ratio of 29.83 and a beta of 0.49.

Sysco Corp. (NYSE:SYY) last posted its quarterly earnings data on Monday, November 7th. The company reported $0.67 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.58 by $0.09. The firm earned $14 billion during the quarter, compared to the consensus estimate of $13.88 billion. Sysco Corp. had a net margin of 1.99% and a return on equity of 35.49%. The business’s revenue for the quarter was up 11.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.52 EPS. Equities research analysts predict that Sysco Corp. will post $2.43 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 27th. Shareholders of record on Friday, January 6th will be issued a $0.33 dividend. The ex-dividend date is Wednesday, January 4th. This represents a $1.32 dividend on an annualized basis and a yield of 2.46%. This is an increase from Sysco Corp.’s previous quarterly dividend of $0.31. Sysco Corp.’s payout ratio is currently 68.13%.

SYY has been the subject of a number of analyst reports. Vetr cut shares of Sysco Corp. from a “hold” rating to a “sell” rating and set a $50.83 price target for the company. in a research note on Thursday, August 18th. Credit Suisse Group AG cut shares of Sysco Corp. from an “outperform” rating to a “neutral” rating and cut their price target for the stock from $59.00 to $55.00 in a research note on Wednesday, November 16th. JPMorgan Chase & Co. restated a “neutral” rating and set a $57.00 price target (up previously from $55.00) on shares of Sysco Corp. in a research note on Tuesday, August 16th. Bank of America Corp. upgraded shares of Sysco Corp. from a “neutral” rating to a “buy” rating and set a $60.00 price target for the company in a research note on Tuesday, November 8th. Finally, BMO Capital Markets set a $56.00 price target on shares of Sysco Corp. and gave the stock a “hold” rating in a research note on Wednesday, November 9th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and three have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $52.63.

In other Sysco Corp. news, insider William B. Day sold 72,134 shares of the business’s stock in a transaction dated Thursday, November 17th. The shares were sold at an average price of $53.01, for a total value of $3,823,823.34. Following the completion of the sale, the insider now owns 108,293 shares of the company’s stock, valued at approximately $5,740,611.93. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Paul T. Moskowitz sold 74,271 shares of the business’s stock in a transaction dated Monday, November 7th. The shares were sold at an average price of $51.40, for a total transaction of $3,817,529.40. Following the completion of the sale, the insider now directly owns 78,695 shares of the company’s stock, valued at approximately $4,044,923. The disclosure for this sale can be found here. 8.81% of the stock is currently owned by company insiders.

Sysco Corp. Company Profile

Sysco Corporation (Sysco) along with its subsidiaries and divisions, is a North American distributor of food and related products primarily to the foodservice or food-away-from-home industry. The Company provides products and related services to approximately 425,000 customers, including restaurants, healthcare and educational facilities, lodging establishments and other foodservice customers.

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