Oppenheimer Asset Management Inc. Invests $9.43 Million in Sysco Corporation $SYY

Oppenheimer Asset Management Inc. bought a new stake in Sysco Corporation (NYSE:SYY) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 112,812 shares of the company’s stock, valued at approximately $9,429,000.

Other large investors have also recently made changes to their positions in the company. Montag A & Associates Inc. increased its position in Sysco by 1.4% during the fourth quarter. Montag A & Associates Inc. now owns 8,743 shares of the company’s stock worth $644,000 after buying an additional 123 shares during the period. United Community Bank boosted its holdings in shares of Sysco by 11.4% in the fourth quarter. United Community Bank now owns 1,224 shares of the company’s stock valued at $90,000 after acquiring an additional 125 shares during the period. First Citizens Bank & Trust Co. grew its position in shares of Sysco by 1.2% during the fourth quarter. First Citizens Bank & Trust Co. now owns 11,224 shares of the company’s stock worth $827,000 after acquiring an additional 138 shares during the last quarter. Diversify Wealth Management LLC grew its position in shares of Sysco by 1.6% during the fourth quarter. Diversify Wealth Management LLC now owns 9,173 shares of the company’s stock worth $698,000 after acquiring an additional 143 shares during the last quarter. Finally, Arax Advisory Partners increased its holdings in shares of Sysco by 2.4% in the 4th quarter. Arax Advisory Partners now owns 6,222 shares of the company’s stock valued at $458,000 after acquiring an additional 145 shares during the period. 83.41% of the stock is owned by institutional investors and hedge funds.

Sysco Price Performance

Sysco stock opened at $82.94 on Friday. The company has a debt-to-equity ratio of 4.62, a current ratio of 1.28 and a quick ratio of 0.77. The business has a 50 day simple moving average of $82.21 and a 200-day simple moving average of $80.62. Sysco Corporation has a 12 month low of $68.19 and a 12 month high of $91.85. The stock has a market capitalization of $39.71 billion, a PE ratio of 22.66, a price-to-earnings-growth ratio of 2.86 and a beta of 0.64.

Sysco (NYSE:SYY) last posted its quarterly earnings data on Tuesday, August 4th. The company reported $1.53 earnings per share for the quarter, beating analysts’ consensus estimates of $1.51 by $0.02. The firm had revenue of $22.12 billion for the quarter, compared to analyst estimates of $21.95 billion. Sysco had a net margin of 2.08% and a return on equity of 95.05%. Sysco’s quarterly revenue was up 4.7% on a year-over-year basis. During the same period last year, the firm posted $1.48 EPS. Sysco has set its FY 2027 guidance at 5.025-5.117 EPS and its Q1 2027 guidance at 1.180-1.200 EPS. Equities analysts predict that Sysco Corporation will post 5.1 earnings per share for the current year.

Insider Buying and Selling at Sysco

In other news, EVP Ronald L. Phillips sold 367 shares of the firm’s stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $83.39, for a total value of $30,604.13. Following the completion of the sale, the executive vice president owned 38,650 shares in the company, valued at approximately $3,223,023.50. This trade represents a 0.94% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director John M. Hinshaw bought 13,304 shares of the stock in a transaction dated Tuesday, May 26th. The stock was purchased at an average cost of $75.17 per share, for a total transaction of $1,000,061.68. Following the acquisition, the director owned 40,200 shares of the company’s stock, valued at approximately $3,021,834. This represents a 49.46% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 0.56% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several analysts recently commented on SYY shares. Melius Research downgraded shares of Sysco from a “hold” rating to a “sell” rating in a research report on Tuesday, July 7th. Sanford C. Bernstein dropped their price objective on shares of Sysco from $90.00 to $85.00 and set a “market perform” rating on the stock in a research note on Wednesday, April 29th. Piper Sandler upped their target price on shares of Sysco from $77.00 to $84.00 and gave the company a “neutral” rating in a report on Wednesday, August 5th. UBS Group increased their target price on shares of Sysco from $90.00 to $95.00 and gave the stock a “buy” rating in a research note on Wednesday, August 5th. Finally, Wall Street Zen lowered Sysco from a “buy” rating to a “hold” rating in a report on Saturday, May 2nd. Eight research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Sysco presently has a consensus rating of “Hold” and a consensus price target of $89.50.

About Sysco

Sysco Corporation (NYSE: SYY) is a global foodservice distribution company that supplies a broad range of food and related products to restaurants, healthcare and educational facilities, lodging establishments, and other foodservice customers. Its core business is the procurement, warehousing and delivery of fresh, frozen and dry food products, complemented by non-food items such as paper goods, kitchen equipment, cleaning supplies and tabletop products. Sysco serves customers through an extensive network of distribution centers and dedicated delivery fleets, positioning itself as a one-stop supplier for operators of all sizes.

Founded in 1969 and headquartered in Houston, Texas, Sysco has grown through both organic expansion and acquisitions.