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

Oppenheimer & Co. Inc. raised its position in Sysco Co. (NYSE:SYY) by 2.3% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 47,385 shares of the company’s stock after purchasing an additional 1,063 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Sysco were worth $3,383,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in the company. TruNorth Capital Management LLC acquired a new position in shares of Sysco during the second quarter valued at approximately $25,000. Verity & Verity LLC acquired a new position in shares of Sysco during the first quarter valued at approximately $26,000. Burkett Financial Services LLC acquired a new position in shares of Sysco during the fourth quarter valued at approximately $30,000. OFI Invest Asset Management acquired a new position in shares of Sysco during the first quarter valued at approximately $31,000. Finally, Fairman Group LLC acquired a new position in shares of Sysco during the fourth quarter valued at approximately $39,000. Institutional investors and hedge funds own 83.41% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on SYY shares. Morgan Stanley lowered their price objective on shares of Sysco from $82.00 to $81.00 and set an “equal weight” rating on the stock in a research note on Tuesday, July 16th. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Sysco from $90.00 to $86.00 and set a “buy” rating on the stock in a research note on Thursday, May 23rd. Barclays lifted their price target on shares of Sysco from $85.00 to $88.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st. Bank of America decreased their price target on shares of Sysco from $91.00 to $87.00 and set a “buy” rating on the stock in a research report on Thursday, July 18th. Finally, Guggenheim upgraded shares of Sysco from a “neutral” rating to a “buy” rating and set a $85.00 price target on the stock in a research report on Tuesday, May 28th. Two investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Sysco presently has a consensus rating of “Moderate Buy” and an average target price of $85.27.

Sysco Trading Down 0.6 %

Sysco stock opened at $76.52 on Monday. The company has a 50 day moving average price of $75.34 and a 200 day moving average price of $75.66. Sysco Co. has a 52 week low of $62.24 and a 52 week high of $82.89. The company has a debt-to-equity ratio of 6.19, a quick ratio of 0.69 and a current ratio of 1.20. The firm has a market capitalization of $37.61 billion, a price-to-earnings ratio of 18.66, a P/E/G ratio of 2.01 and a beta of 1.20.

Sysco (NYSE:SYY) last issued its earnings results on Tuesday, July 30th. The company reported $1.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.38 by $0.01. The company had revenue of $20.56 billion during the quarter, compared to analyst estimates of $20.51 billion. Sysco had a net margin of 2.48% and a return on equity of 102.09%. The company’s revenue for the quarter was up 4.2% on a year-over-year basis. During the same quarter last year, the business posted $1.34 EPS. Research analysts forecast that Sysco Co. will post 4.6 EPS for the current year.

Sysco Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Friday, October 4th will be paid a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.67%. The ex-dividend date of this dividend is Friday, October 4th. Sysco’s dividend payout ratio (DPR) is currently 49.76%.

Sysco 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.