Oppenheimer Asset Management Inc. Has $2.58 Million Stock Position in Sysco Co. (NYSE:SYY)

Oppenheimer Asset Management Inc. boosted its holdings in Sysco Co. (NYSE:SYY) by 23.4% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 33,057 shares of the company’s stock after purchasing an additional 6,267 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Sysco were worth $2,580,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in SYY. TruNorth Capital Management LLC acquired a new position in shares of Sysco during the 2nd quarter valued at $25,000. Armstrong Advisory Group Inc. increased its stake in Sysco by 1,240.0% in the third quarter. Armstrong Advisory Group Inc. now owns 335 shares of the company’s stock valued at $26,000 after purchasing an additional 310 shares in the last quarter. Ashton Thomas Securities LLC acquired a new position in shares of Sysco during the third quarter valued at about $26,000. Focused Wealth Management Inc bought a new position in shares of Sysco during the 3rd quarter worth about $37,000. Finally, Fairscale Capital LLC acquired a new stake in shares of Sysco in the 2nd quarter valued at about $38,000. 83.41% of the stock is owned by institutional investors and hedge funds.

Sysco Stock Performance

SYY stock opened at $74.95 on Friday. The business has a 50 day moving average of $75.93 and a 200-day moving average of $74.73. The firm has a market cap of $36.82 billion, a PE ratio of 19.27, a P/E/G ratio of 2.01 and a beta of 1.20. Sysco Co. has a 12-month low of $69.03 and a 12-month high of $82.89. The company has a quick ratio of 0.73, a current ratio of 1.26 and a debt-to-equity ratio of 5.38.

Sysco (NYSE:SYY) last announced its earnings results on Tuesday, October 29th. The company reported $1.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.13 by ($0.04). The business had revenue of $20.48 billion for the quarter, compared to analysts’ expectations of $20.47 billion. Sysco had a net margin of 2.44% and a return on equity of 101.04%. The company’s revenue for the quarter was up 4.4% compared to the same quarter last year. During the same period in the prior year, the business earned $1.07 earnings per share. As a group, sell-side analysts expect that Sysco Co. will post 4.57 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. JPMorgan Chase & Co. upped their price target on Sysco from $85.00 to $88.00 and gave the stock an “overweight” rating in a research note on Monday, September 16th. Jefferies Financial Group increased their target price on Sysco from $91.00 to $92.00 and gave the stock a “buy” rating in a report on Wednesday, September 25th. Wells Fargo & Company reduced their price target on shares of Sysco from $87.00 to $82.00 and set an “overweight” rating for the company in a research report on Wednesday, October 30th. StockNews.com downgraded shares of Sysco from a “strong-buy” rating to a “buy” rating in a report on Monday, October 21st. Finally, Barclays lifted their price objective on shares of Sysco from $85.00 to $88.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st. Two analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $85.77.

Insiders Place Their Bets

In other Sysco news, SVP Eve M. Mcfadden sold 4,036 shares of the firm’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $75.10, for a total value of $303,103.60. Following the completion of the sale, the senior vice president now directly owns 48,451 shares of the company’s stock, valued at $3,638,670.10. This trade represents a 7.69 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders own 0.54% of the company’s stock.

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.