Sysco Co. (NYSE:SYY) Shares Bought by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. raised its stake in shares of Sysco Co. (NYSE:SYY) by 205.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 100,977 shares of the company’s stock after acquiring an additional 67,920 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Sysco were worth $7,721,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in SYY. Ashton Thomas Securities LLC purchased a new position in Sysco during the 3rd quarter valued at about $26,000. Valley Wealth Managers Inc. acquired a new stake in shares of Sysco during the third quarter worth about $31,000. Stonebridge Financial Group LLC purchased a new position in shares of Sysco in the fourth quarter valued at approximately $31,000. Focused Wealth Management Inc acquired a new position in shares of Sysco in the third quarter valued at approximately $37,000. Finally, HHM Wealth Advisors LLC increased its stake in Sysco by 107.4% during the 4th quarter. HHM Wealth Advisors LLC now owns 620 shares of the company’s stock worth $47,000 after buying an additional 321 shares during the period. 83.41% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Sysco

In other Sysco news, SVP Eve M. Mcfadden sold 6,499 shares of the business’s stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $80.00, for a total value of $519,920.00. Following the completion of the sale, the senior vice president now owns 48,451 shares in the company, valued at approximately $3,876,080. The trade was a 11.83 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Greg D. Bertrand sold 48,027 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $77.00, for a total transaction of $3,698,079.00. Following the transaction, the executive vice president now owns 56,304 shares in the company, valued at approximately $4,335,408. This trade represents a 46.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 76,370 shares of company stock valued at $5,965,519 in the last three months. 0.54% of the stock is currently owned by company insiders.

Sysco Stock Performance

Shares of Sysco stock opened at $75.53 on Friday. The firm has a market capitalization of $36.95 billion, a P/E ratio of 19.42, a P/E/G ratio of 1.88 and a beta of 1.17. The company has a quick ratio of 0.68, a current ratio of 1.20 and a debt-to-equity ratio of 5.66. Sysco Co. has a 52 week low of $69.03 and a 52 week high of $82.33. The firm’s 50 day moving average is $73.66 and its two-hundred day moving average is $75.65.

Sysco (NYSE:SYY) last announced its quarterly earnings results on Tuesday, January 28th. The company reported $0.93 EPS for the quarter, hitting the consensus estimate of $0.93. Sysco had a net margin of 2.40% and a return on equity of 106.30%. During the same quarter last year, the company posted $0.89 EPS. Research analysts forecast that Sysco Co. will post 4.58 EPS for the current fiscal year.

Sysco Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Friday, April 4th will be issued a $0.51 dividend. This represents a $2.04 annualized dividend and a dividend yield of 2.70%. The ex-dividend date of this dividend is Friday, April 4th. Sysco’s payout ratio is currently 52.44%.

Analysts Set New Price Targets

Several equities analysts have commented on SYY shares. Barclays decreased their price target on shares of Sysco from $93.00 to $85.00 and set an “overweight” rating for the company in a research report on Wednesday, January 29th. JPMorgan Chase & Co. lowered their target price on Sysco from $86.00 to $82.00 and set an “overweight” rating for the company in a research note on Tuesday, February 4th. Guggenheim restated a “buy” rating and set a $85.00 price target on shares of Sysco in a report on Wednesday, January 29th. Truist Financial decreased their price objective on Sysco from $85.00 to $83.00 and set a “buy” rating for the company in a research note on Wednesday, January 29th. Finally, Melius initiated coverage on shares of Sysco in a research note on Wednesday, December 18th. They set a “hold” rating and a $85.00 target price on the stock. Four analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, Sysco has a consensus rating of “Moderate Buy” and a consensus target price of $84.77.

Sysco Company Profile

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.