Oppenheimer & Co. Inc. Buys 695 Shares of Sysco Co. (NYSE:SYY)

Oppenheimer & Co. Inc. increased its stake in shares of Sysco Co. (NYSE:SYY) by 1.5% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 48,080 shares of the company’s stock after acquiring an additional 695 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Sysco were worth $3,753,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Plimoth Trust Co. LLC grew its stake in shares of Sysco by 0.6% in the second quarter. Plimoth Trust Co. LLC now owns 22,547 shares of the company’s stock valued at $1,610,000 after acquiring an additional 139 shares in the last quarter. Koshinski Asset Management Inc. grew its position in shares of Sysco by 3.1% during the 3rd quarter. Koshinski Asset Management Inc. now owns 4,913 shares of the company’s stock worth $383,000 after purchasing an additional 146 shares in the last quarter. Powers Advisory Group LLC increased its holdings in shares of Sysco by 1.6% during the second quarter. Powers Advisory Group LLC now owns 9,555 shares of the company’s stock worth $682,000 after purchasing an additional 149 shares during the period. Arrow Financial Corp raised its position in shares of Sysco by 0.8% in the second quarter. Arrow Financial Corp now owns 19,993 shares of the company’s stock valued at $1,427,000 after buying an additional 155 shares in the last quarter. Finally, KCM Investment Advisors LLC boosted its stake in shares of Sysco by 1.5% in the second quarter. KCM Investment Advisors LLC now owns 10,911 shares of the company’s stock valued at $779,000 after buying an additional 161 shares during the period. Institutional investors own 83.41% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on SYY shares. 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. StockNews.com downgraded shares of Sysco from a “strong-buy” rating to a “buy” rating in a research note on Monday, October 21st. JPMorgan Chase & Co. raised their target price on shares of Sysco from $85.00 to $88.00 and gave the company an “overweight” rating in a report on Monday, September 16th. Wells Fargo & Company cut their price target on shares of Sysco from $87.00 to $82.00 and set an “overweight” rating for the company in a report on Wednesday, October 30th. 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 research note on Wednesday, July 31st. Two research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $85.77.

Sysco Trading Down 0.0 %

Shares of SYY stock opened at $74.95 on Friday. Sysco Co. has a 1-year low of $69.03 and a 1-year high of $82.89. The company has a current ratio of 1.26, a quick ratio of 0.73 and a debt-to-equity ratio of 5.38. The stock has a market cap of $36.82 billion, a price-to-earnings ratio of 19.27, a PEG ratio of 2.01 and a beta of 1.20. The stock has a 50-day moving average of $76.00 and a 200-day moving average of $74.74.

Sysco (NYSE:SYY) last released its earnings results on Tuesday, October 29th. The company reported $1.09 earnings per share for the quarter, missing analysts’ consensus estimates of $1.13 by ($0.04). The firm had revenue of $20.48 billion for the quarter, compared to analyst estimates of $20.47 billion. Sysco had a net margin of 2.44% and a return on equity of 101.04%. The business’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 company posted $1.07 EPS. On average, equities research analysts forecast that Sysco Co. will post 4.57 earnings per share for the current year.

Insider Buying and Selling

In related news, SVP Eve M. Mcfadden sold 4,036 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $75.10, for a total transaction of $303,103.60. Following the completion of the sale, the senior vice president now 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 document filed with the SEC, which is available at the SEC website. 0.54% of the stock is 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.