Sysco Co. (NYSE:SYY) Shares Purchased by Oppenheimer & Co. Inc.

Oppenheimer & Co. Inc. increased its position in shares of Sysco Co. (NYSE:SYY) by 0.6% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 48,369 shares of the company’s stock after buying an additional 289 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Sysco were worth $3,698,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Assenagon Asset Management S.A. raised its position in Sysco by 10.7% in the 3rd quarter. Assenagon Asset Management S.A. now owns 15,997 shares of the company’s stock valued at $1,249,000 after purchasing an additional 1,551 shares during the last quarter. Pinnacle Associates Ltd. raised its holdings in shares of Sysco by 1.4% in the third quarter. Pinnacle Associates Ltd. now owns 25,261 shares of the company’s stock valued at $1,847,000 after buying an additional 351 shares during the last quarter. Creative Financial Designs Inc. ADV boosted its stake in shares of Sysco by 5.3% during the third quarter. Creative Financial Designs Inc. ADV now owns 11,320 shares of the company’s stock worth $884,000 after buying an additional 571 shares during the period. CacheTech Inc. grew its holdings in shares of Sysco by 2.6% during the third quarter. CacheTech Inc. now owns 29,571 shares of the company’s stock worth $2,308,000 after buying an additional 749 shares during the last quarter. Finally, Cambiar Investors LLC increased its position in Sysco by 40.5% in the 3rd quarter. Cambiar Investors LLC now owns 615,702 shares of the company’s stock valued at $48,062,000 after acquiring an additional 177,425 shares during the period. Institutional investors and hedge funds own 83.41% of the company’s stock.

Insiders Place Their Bets

In other news, SVP Eve M. Mcfadden sold 6,499 shares of the business’s stock in a transaction 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 transaction, the senior vice president now directly owns 48,451 shares of the company’s stock, valued at $3,876,080. The trade was a 11.83 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Greg D. Bertrand sold 48,027 shares of the company’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $77.00, for a total value of $3,698,079.00. Following the completion of the sale, the executive vice president now owns 56,304 shares in the company, valued at $4,335,408. This represents a 46.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 76,370 shares of company stock worth $5,965,519. Insiders own 0.54% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on SYY shares. StockNews.com cut Sysco from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, February 25th. Melius Research upgraded shares of Sysco to a “hold” rating in a research report on Wednesday, December 18th. UBS Group dropped their price objective on shares of Sysco from $87.00 to $86.00 and set a “buy” rating on the stock in a research note on Wednesday, January 29th. Barclays reduced their target price on shares of Sysco from $93.00 to $85.00 and set an “overweight” rating for the company in a research note on Wednesday, January 29th. Finally, Wells Fargo & Company boosted their price target on shares of Sysco from $82.00 to $87.00 and gave the stock an “overweight” rating in a research note on Wednesday. Four research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, Sysco has an average rating of “Moderate Buy” and an average price target of $84.77.

Sysco Price Performance

Shares of NYSE:SYY opened at $75.53 on Friday. The firm has a market capitalization of $36.95 billion, a price-to-earnings ratio of 19.42, a price-to-earnings-growth ratio of 1.88 and a beta of 1.17. The company has a debt-to-equity ratio of 5.66, a current ratio of 1.20 and a quick ratio of 0.68. The business’s 50 day simple moving average is $73.66 and its 200-day simple moving average is $75.65. Sysco Co. has a 12 month low of $69.03 and a 12 month high of $82.33.

Sysco (NYSE:SYY) last posted its earnings results on Tuesday, January 28th. The company reported $0.93 EPS for the quarter, hitting analysts’ consensus estimates of $0.93. Sysco had a return on equity of 106.30% and a net margin of 2.40%. During the same quarter in the prior year, the business earned $0.89 EPS. As a group, equities analysts forecast that Sysco Co. will post 4.58 earnings per share for the current fiscal year.

Sysco Dividend Announcement

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

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.