Oppenheimer Asset Management Inc. Acquires 6,267 Shares of Sysco Co. (NYSE:SYY)

Oppenheimer Asset Management Inc. lifted its holdings in shares of Sysco Co. (NYSE:SYY) by 23.4% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 33,057 shares of the company’s stock after acquiring an additional 6,267 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Sysco were worth $2,580,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Armstrong Advisory Group Inc. lifted its position in shares of Sysco by 1,240.0% during the third quarter. Armstrong Advisory Group Inc. now owns 335 shares of the company’s stock worth $26,000 after acquiring an additional 310 shares in the last quarter. Ashton Thomas Securities LLC bought a new stake in shares of Sysco during the 3rd quarter valued at $26,000. TruNorth Capital Management LLC purchased a new stake in Sysco during the 2nd quarter worth about $25,000. Focused Wealth Management Inc bought a new position in Sysco in the 3rd quarter worth about $37,000. Finally, Canoe Financial LP purchased a new position in Sysco during the 3rd quarter valued at about $38,000. 83.41% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Barclays increased their price target on shares of Sysco from $85.00 to $88.00 and gave the stock an “overweight” rating in a report on Wednesday, July 31st. 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. StockNews.com cut Sysco from a “strong-buy” rating to a “buy” rating in a research report on Monday, October 21st. Jefferies Financial Group raised their price target on Sysco from $91.00 to $92.00 and gave the company a “buy” rating in a report on Wednesday, September 25th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Sysco from $85.00 to $88.00 and gave the stock an “overweight” rating in a research report on Monday, September 16th. Two equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $85.77.

Sysco Trading Down 0.0 %

Shares of SYY opened at $74.95 on Friday. Sysco Co. has a fifty-two week low of $69.03 and a fifty-two week high of $82.89. The firm 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 firm has a 50 day moving average price of $75.93 and a 200-day moving average price of $74.73. The company has a debt-to-equity ratio of 5.38, a quick ratio of 0.73 and a current ratio of 1.26.

Sysco (NYSE:SYY) last posted its quarterly 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 business’s quarterly revenue was up 4.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.07 earnings per share. As a group, 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 company’s stock in a transaction on Friday, November 1st. The shares were 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 directly owns 48,451 shares in the company, valued at $3,638,670.10. This represents a 7.69 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.54% of the stock is owned by corporate insiders.

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.