Costello Asset Management INC Has $421,000 Holdings in Sysco Co. (NYSE:SYY)

Costello Asset Management INC cut its position in shares of Sysco Co. (NYSE:SYY) by 82.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,502 shares of the company’s stock after selling 26,013 shares during the period. Costello Asset Management INC’s holdings in Sysco were worth $421,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of SYY. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Sysco by 58.2% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 63,387 shares of the company’s stock worth $4,525,000 after acquiring an additional 23,321 shares during the period. Cetera Investment Advisers lifted its stake in Sysco by 2.7% during the second quarter. Cetera Investment Advisers now owns 292,770 shares of the company’s stock worth $20,901,000 after purchasing an additional 7,758 shares during the period. Sanctuary Advisors LLC acquired a new stake in Sysco during the second quarter valued at approximately $6,827,000. Massmutual Trust Co. FSB ADV grew its stake in shares of Sysco by 44.7% in the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 44,122 shares of the company’s stock valued at $3,444,000 after purchasing an additional 13,639 shares during the period. Finally, AMF Tjanstepension AB raised its holdings in shares of Sysco by 185.5% in the 3rd quarter. AMF Tjanstepension AB now owns 31,332 shares of the company’s stock worth $2,446,000 after buying an additional 20,356 shares in the last quarter. 83.41% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

SYY has been the topic of a number of analyst reports. UBS Group lowered their price target on Sysco from $87.00 to $86.00 and set a “buy” rating on the stock in a research report on Wednesday. Jefferies Financial Group upped their target price on shares of Sysco from $91.00 to $95.00 and gave the stock a “buy” rating in a report on Monday, December 16th. Melius Research raised shares of Sysco to a “hold” rating in a report on Wednesday, December 18th. Wells Fargo & Company dropped their price objective 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, Morgan Stanley reduced their target price on Sysco from $79.00 to $77.00 and set an “equal weight” rating on the stock in a report on Wednesday. Four investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $84.85.

Insider Buying and Selling at Sysco

In other news, SVP Eve M. Mcfadden sold 6,499 shares of the company’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $80.00, for a total transaction of $519,920.00. Following the completion of the transaction, the senior vice president now directly owns 48,451 shares of the company’s stock, valued at $3,876,080. This represents a 11.83 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Greg D. Bertrand sold 48,027 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $77.00, for a total value of $3,698,079.00. Following the completion of the sale, the executive vice president now owns 56,304 shares in the company, valued at $4,335,408. The trade was a 46.03 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 79,270 shares of company stock valued at $6,181,946. Company insiders own 0.54% of the company’s stock.

Sysco Trading Down 0.7 %

SYY stock opened at $72.79 on Friday. The company has a quick ratio of 0.73, a current ratio of 1.20 and a debt-to-equity ratio of 5.66. Sysco Co. has a twelve month low of $69.03 and a twelve month high of $82.89. The company has a market cap of $35.76 billion, a P/E ratio of 18.71, a PEG ratio of 1.96 and a beta of 1.18. The business has a fifty day moving average of $76.30 and a 200-day moving average of $75.99.

Sysco (NYSE:SYY) last posted its quarterly earnings results on Tuesday, January 28th. The company reported $0.93 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.93. Sysco had a return on equity of 106.30% and a net margin of 2.40%. During the same period in the prior year, the company posted $0.89 EPS. As a group, equities research analysts expect that Sysco Co. will post 4.57 EPS for the current year.

Sysco Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, January 24th. Stockholders of record on Friday, January 3rd were given a dividend of $0.51 per share. The ex-dividend date was Friday, January 3rd. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.80%. Sysco’s dividend payout ratio is 52.44%.

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.