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

Oppenheimer & Co. Inc. boosted its position in Sysco Corporation (NYSE:SYY) by 1.3% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 49,001 shares of the company’s stock after purchasing an additional 632 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Sysco were worth $3,677,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in SYY. Buckley Wealth Management LLC increased its stake in shares of Sysco by 0.8% in the 4th quarter. Buckley Wealth Management LLC now owns 18,188 shares of the company’s stock worth $1,391,000 after acquiring an additional 150 shares during the last quarter. WR Wealth Planners LLC increased its stake in shares of Sysco by 9.9% in the 4th quarter. WR Wealth Planners LLC now owns 4,270 shares of the company’s stock worth $326,000 after acquiring an additional 386 shares during the last quarter. SBI Securities Co. Ltd. acquired a new stake in shares of Sysco in the 4th quarter worth $54,000. Wealth Enhancement Advisory Services LLC increased its stake in shares of Sysco by 2.3% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 223,510 shares of the company’s stock worth $16,772,000 after acquiring an additional 4,932 shares during the last quarter. Finally, Fiduciary Trust Co increased its stake in shares of Sysco by 0.3% in the 4th quarter. Fiduciary Trust Co now owns 66,495 shares of the company’s stock worth $5,084,000 after acquiring an additional 196 shares during the last quarter. 83.41% of the stock is owned by institutional investors and hedge funds.

Sysco Stock Down 1.0%

Shares of NYSE:SYY opened at $75.13 on Thursday. The firm’s 50 day moving average price is $72.67 and its 200 day moving average price is $73.48. The stock has a market cap of $36.42 billion, a price-to-earnings ratio of 19.46, a price-to-earnings-growth ratio of 2.46 and a beta of 0.81. Sysco Corporation has a fifty-two week low of $67.12 and a fifty-two week high of $82.23. The company has a quick ratio of 0.76, a current ratio of 1.26 and a debt-to-equity ratio of 6.37.

Sysco (NYSE:SYY) last issued its earnings results 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 during the quarter, compared to analyst estimates of $20.11 billion. Sysco had a net margin of 2.36% and a return on equity of 107.96%. The firm’s revenue was up 1.1% compared to the same quarter last year. During the same period last year, the business earned $0.96 EPS. As a group, equities research analysts predict that Sysco Corporation will post 4.58 earnings per share for the current fiscal year.

Sysco Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 25th. Shareholders of record on Thursday, July 3rd will be paid a $0.54 dividend. This is a positive change from Sysco’s previous quarterly dividend of $0.51. This represents a $2.16 annualized dividend and a yield of 2.88%. The ex-dividend date of this dividend is Thursday, July 3rd. Sysco’s dividend payout ratio is currently 52.85%.

Analyst Ratings Changes

SYY has been the subject of a number of recent research reports. Sanford C. Bernstein set a $87.00 target price on Sysco and gave the stock an “overweight” rating in a research note on Tuesday, April 22nd. UBS Group lowered their price target on Sysco from $86.00 to $83.00 and set a “buy” rating for the company in a report on Wednesday, April 30th. Barclays lowered their price target on Sysco from $87.00 to $77.00 and set an “overweight” rating for the company in a report on Wednesday, April 30th. BMO Capital Markets lowered their price target on Sysco from $82.00 to $77.00 and set an “outperform” rating for the company in a report on Wednesday, April 30th. Finally, Wells Fargo & Company lowered their price target on Sysco from $87.00 to $80.00 and set an “overweight” rating for the company in a report on Wednesday, April 30th. Four analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, Sysco currently has a consensus rating of “Moderate Buy” and a consensus price target of $83.00.

Insider Buying and Selling at Sysco

In other news, Director Sheila Talton sold 356 shares of the firm’s stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $70.84, for a total transaction of $25,219.04. Following the transaction, the director now directly owns 12,738 shares in the company, valued at approximately $902,359.92. This trade represents 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 link. 0.54% of the stock is currently owned by insiders.

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.