Oppenheimer Asset Management Inc. Sells 19,720 Shares of Sysco Corporation $SYY

Key Points

• Oppenheimer Asset Management cut its Sysco stake by 20.7%, selling 19,720 shares in Q4 and now holds 75,641 shares worth about $5.57 million.
• Sysco slightly missed quarterly estimates with $0.94 EPS vs. $0.95 expected and $20.52B revenue vs. $20.56B, while analysts still show a consensus "Moderate Buy" and a $88.15 target price.
• Dividend raised: Sysco increased its quarterly payout to $0.55 (annualized $2.20), implying a ~3.0% yield and a payout ratio near 60%.

Oppenheimer Asset Management Inc. cut its position in shares of Sysco Corporation (NYSE:SYY - Free Report) by 20.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 75,641 shares of the company's stock after selling 19,720 shares during the period. Oppenheimer Asset Management Inc.'s holdings in Sysco were worth $5,574,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. increased its stake 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 during the last quarter. State Street Corp increased its stake in shares of Sysco by 0.9% during the 3rd quarter. State Street Corp now owns 26,669,576 shares of the company's stock worth $2,195,973,000 after purchasing an additional 246,542 shares during the last quarter. Capital Research Global Investors increased its stake in shares of Sysco by 0.3% during the 3rd quarter. Capital Research Global Investors now owns 18,360,707 shares of the company's stock worth $1,511,821,000 after purchasing an additional 46,040 shares during the last quarter. Wellington Management Group LLP increased its stake in shares of Sysco by 3,977.1% during the 3rd quarter. Wellington Management Group LLP now owns 4,711,376 shares of the company's stock worth $387,935,000 after purchasing an additional 4,595,819 shares during the last quarter. Finally, Ameriprise Financial Inc. increased its stake in shares of Sysco by 12.0% during the 2nd quarter. Ameriprise Financial Inc. now owns 2,639,931 shares of the company's stock worth $201,076,000 after purchasing an additional 283,706 shares during the last quarter. 83.41% of the stock is currently owned by institutional investors and hedge funds.

Sysco Stock Down 0.8%

Shares of SYY opened at $74.08 on Friday. Sysco Corporation has a 52 week low of $68.19 and a 52 week high of $91.85. The firm has a market cap of $35.42 billion, a P/E ratio of 20.52, a price-to-earnings-growth ratio of 3.58 and a beta of 0.66. The firm's 50-day simple moving average is $79.95 and its 200 day simple moving average is $78.41. The company has a debt-to-equity ratio of 5.58, a quick ratio of 0.75 and a current ratio of 1.33.

Sysco (NYSE:SYY - Get Free Report) last announced its quarterly earnings results on Tuesday, April 28th. The company reported $0.94 EPS for the quarter, missing analysts' consensus estimates of $0.95 by ($0.01). Sysco had a net margin of 2.08% and a return on equity of 103.57%. The company had revenue of $20.52 billion during the quarter, compared to analyst estimates of $20.56 billion. During the same quarter last year, the company posted $0.96 EPS. The firm's quarterly revenue was up 4.7% on a year-over-year basis. Sysco has set its Q4 2026 guidance at 1.510-1.510 EPS. On average, analysts forecast that Sysco Corporation will post 4.59 earnings per share for the current year.

Sysco Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 24th. Shareholders of record on Thursday, July 2nd will be issued a $0.55 dividend. The ex-dividend date of this dividend is Thursday, July 2nd. This represents a $2.20 dividend on an annualized basis and a yield of 3.0%. This is an increase from Sysco's previous quarterly dividend of $0.54. Sysco's payout ratio is presently 59.83%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on SYY. Truist Financial boosted their price objective on shares of Sysco from $90.00 to $94.00 and gave the stock a "buy" rating in a research note on Wednesday, January 28th. Sanford C. Bernstein lowered 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. Weiss Ratings lowered shares of Sysco from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Monday, March 30th. Wall Street Zen lowered shares of Sysco from a "buy" rating to a "hold" rating in a research note on Saturday. Finally, Jefferies Financial Group upped their price target on shares of Sysco from $90.00 to $95.00 and gave the company a "buy" rating in a research note on Wednesday, January 28th. Nine research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Sysco currently has a consensus rating of "Moderate Buy" and a consensus target price of $88.15.

Insider Transactions at Sysco

In other Sysco news, Director Sheila Talton sold 2,801 shares of the business's stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $82.99, for a total value of $232,454.99. Following the completion of the sale, the director owned 12,868 shares of the company's stock, valued at $1,067,915.32. The trade was a 17.88% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 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.

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