112,812 Shares in Sysco Corporation $SYY Bought by Oppenheimer Asset Management Inc.

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

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in shares of Sysco by 1.3% during the 4th quarter. Vanguard Group Inc. now owns 62,305,343 shares of the company’s stock worth $4,591,281,000 after purchasing an additional 814,270 shares in the last quarter. State Street Corp increased its holdings in shares of Sysco by 0.9% in the 3rd quarter. State Street Corp now owns 26,669,576 shares of the company’s stock valued at $2,195,973,000 after purchasing an additional 246,542 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Sysco by 1.0% in the 4th quarter. Geode Capital Management LLC now owns 12,728,692 shares of the company’s stock valued at $934,391,000 after purchasing an additional 131,659 shares in the last quarter. Norges Bank acquired a new stake in shares of Sysco in the fourth quarter valued at about $542,780,000. Finally, Morgan Stanley lifted its stake in shares of Sysco by 9.0% in the fourth quarter. Morgan Stanley now owns 6,058,405 shares of the company’s stock valued at $446,444,000 after purchasing an additional 500,881 shares during the period. Institutional investors and hedge funds own 83.41% of the company’s stock.

Sysco Trading Down 0.7%

NYSE:SYY opened at $82.94 on Friday. Sysco Corporation has a 52-week low of $68.19 and a 52-week high of $91.85. The company has a quick ratio of 0.77, a current ratio of 1.28 and a debt-to-equity ratio of 4.62. The stock has a fifty day simple moving average of $82.21 and a 200-day simple moving average of $80.62. The company 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 issued its quarterly earnings data on Tuesday, August 4th. The company reported $1.53 EPS for the quarter, beating analysts’ consensus estimates of $1.51 by $0.02. Sysco had a net margin of 2.08% and a return on equity of 95.05%. The firm had revenue of $22.12 billion for the quarter, compared to analysts’ expectations of $21.95 billion. During the same period in the prior year, the company earned $1.48 EPS. The firm’s revenue was up 4.7% on a year-over-year basis. Sysco has set its FY 2027 guidance at 5.025-5.117 EPS and its Q1 2027 guidance at 1.180-1.200 EPS. On average, equities research analysts expect that Sysco Corporation will post 5.1 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Weiss Ratings restated a “hold (c+)” rating on shares of Sysco in a research report on Friday, June 26th. Deutsche Bank Aktiengesellschaft downgraded shares of Sysco from a “buy” rating to a “hold” rating and set a $84.00 price target for the company. in a research report on Tuesday, April 28th. Piper Sandler boosted their price target on Sysco from $77.00 to $84.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 5th. Morgan Stanley upped their price target on Sysco from $84.00 to $88.00 and gave the stock an “equal weight” rating in a report on Thursday, July 16th. Finally, Sanford C. Bernstein dropped their price objective on Sysco from $90.00 to $85.00 and set a “market perform” rating for the company in a research note on Wednesday, April 29th. Eight analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Sysco has a consensus rating of “Hold” and an average price target of $89.50.

Insider Activity

In other news, EVP Ronald L. Phillips sold 367 shares of the stock in a transaction that occurred 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 sale, the executive vice president directly owned 38,650 shares in the company, valued at $3,223,023.50. This represents a 0.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 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 acquired 13,304 shares of the company’s stock in a transaction dated Tuesday, May 26th. The shares were acquired at an average cost of $75.17 per share, with a total value of $1,000,061.68. Following the completion of the purchase, the director owned 40,200 shares in the company, valued at approximately $3,021,834. This represents a 49.46% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 0.56% of the stock is owned by corporate insiders.

Sysco Company Profile

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.