Oppenheimer & Co. Inc. Acquires 2,246 Shares of Sysco Co. (NYSE:SYY)

Oppenheimer & Co. Inc. raised its holdings in Sysco Co. (NYSE:SYYFree Report) by 5.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 43,875 shares of the company’s stock after purchasing an additional 2,246 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Sysco were worth $3,209,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Invesco Ltd. grew its holdings in Sysco by 11.0% during the third quarter. Invesco Ltd. now owns 10,859,690 shares of the company’s stock valued at $717,283,000 after purchasing an additional 1,076,287 shares during the period. Capital World Investors purchased a new position in shares of Sysco during the 4th quarter valued at $683,599,000. Norges Bank bought a new position in shares of Sysco during the 4th quarter worth $450,794,000. Northern Trust Corp increased its holdings in Sysco by 3.0% in the 3rd quarter. Northern Trust Corp now owns 6,138,310 shares of the company’s stock worth $405,435,000 after acquiring an additional 178,464 shares during the last quarter. Finally, The Manufacturers Life Insurance Company raised its stake in Sysco by 132.9% in the 4th quarter. The Manufacturers Life Insurance Company now owns 3,653,446 shares of the company’s stock valued at $267,177,000 after acquiring an additional 2,084,501 shares during the period. 83.41% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on SYY. Truist Financial reduced their target price on shares of Sysco from $91.00 to $87.00 and set a “buy” rating for the company in a research note on Thursday, May 2nd. Morgan Stanley reduced their price objective on shares of Sysco from $84.00 to $82.00 and set an “equal weight” rating for the company in a research note on Thursday, May 23rd. UBS Group dropped their target price on Sysco from $92.00 to $87.00 and set a “buy” rating on the stock in a research report on Wednesday, May 1st. BMO Capital Markets reduced their price target on Sysco from $90.00 to $85.00 and set an “outperform” rating for the company in a research report on Thursday, May 23rd. Finally, Piper Sandler decreased their price objective on Sysco from $83.00 to $79.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 1st. Two research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $85.10.

Get Our Latest Stock Report on Sysco

Sysco Price Performance

SYY opened at $72.66 on Friday. The business’s fifty day simple moving average is $75.34 and its 200 day simple moving average is $76.40. Sysco Co. has a 52 week low of $62.24 and a 52 week high of $82.89. The company has a quick ratio of 0.77, a current ratio of 1.34 and a debt-to-equity ratio of 5.77. The stock has a market cap of $36.18 billion, a PE ratio of 17.72, a P/E/G ratio of 2.08 and a beta of 1.17.

Sysco (NYSE:SYYGet Free Report) last released its earnings results on Tuesday, April 30th. The company reported $0.96 earnings per share for the quarter, topping analysts’ consensus estimates of $0.95 by $0.01. The company had revenue of $19.38 billion during the quarter, compared to the consensus estimate of $19.74 billion. Sysco had a return on equity of 99.88% and a net margin of 2.66%. Sysco’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.90 EPS. As a group, research analysts expect that Sysco Co. will post 4.3 earnings per share for the current fiscal year.

Sysco Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 26th. Investors of record on Friday, July 5th will be given a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 2.81%. The ex-dividend date of this dividend is Friday, July 5th. This is a boost from Sysco’s previous quarterly dividend of $0.50. Sysco’s dividend payout ratio (DPR) is presently 48.78%.

Sysco Company Profile

(Free Report)

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.

Read More

Want to see what other hedge funds are holding SYY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Sysco Co. (NYSE:SYYFree Report).

Institutional Ownership by Quarter for Sysco (NYSE:SYY)

Receive News & Ratings for Sysco Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sysco and related companies with MarketBeat.com's FREE daily email newsletter.