Sysco Co. (NYSE:SYY) Position Reduced by Costello Asset Management INC

Costello Asset Management INC reduced its position in shares of Sysco Co. (NYSE:SYY) by 82.5% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 5,502 shares of the company’s stock after selling 26,013 shares during the quarter. Costello Asset Management INC’s holdings in Sysco were worth $421,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Armstrong Advisory Group Inc. grew its holdings in 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 during the period. Ashton Thomas Securities LLC acquired a new position in shares of Sysco in the 3rd quarter worth approximately $26,000. Valley Wealth Managers Inc. bought a new stake in shares of Sysco in the 3rd quarter worth approximately $31,000. Focused Wealth Management Inc acquired a new stake in Sysco during the third quarter valued at approximately $37,000. Finally, Canoe Financial LP bought a new stake in Sysco during the third quarter worth approximately $38,000. 83.41% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Sheila Talton sold 2,900 shares of the business’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $74.63, for a total transaction of $216,427.00. Following the completion of the transaction, the director now owns 12,955 shares of the company’s stock, valued at approximately $966,831.65. The trade was a 18.29 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Greg D. Bertrand sold 48,027 shares of the firm’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 directly owns 56,304 shares in the company, valued at $4,335,408. This trade represents a 46.03 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 79,270 shares of company stock worth $6,181,946. 0.54% of the stock is currently owned by insiders.

Sysco Trading Down 0.7 %

NYSE:SYY opened at $72.79 on Friday. The company has a market capitalization of $35.76 billion, a P/E ratio of 18.71, a P/E/G ratio of 1.96 and a beta of 1.18. The stock’s 50 day moving average price is $76.30 and its 200 day moving average price is $75.99. The company has a debt-to-equity ratio of 5.66, a quick ratio of 0.73 and a current ratio of 1.20. Sysco Co. has a 52 week low of $69.03 and a 52 week high of $82.89.

Sysco (NYSE:SYY) last announced its quarterly earnings results on Tuesday, January 28th. The company reported $0.93 EPS for the quarter, hitting the consensus estimate of $0.93. Sysco had a net margin of 2.40% and a return on equity of 106.30%. During the same quarter last year, the business posted $0.89 EPS. On average, research analysts forecast that Sysco Co. will post 4.57 EPS for the current fiscal year.

Sysco Announces Dividend

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

Analyst Upgrades and Downgrades

Several research analysts have issued reports on SYY shares. Truist Financial dropped their price target on Sysco from $85.00 to $83.00 and set a “buy” rating on the stock in a report on Wednesday. StockNews.com lowered shares of Sysco from a “strong-buy” rating to a “buy” rating in a research note on Monday, January 27th. UBS Group reduced their price target on shares of Sysco from $87.00 to $86.00 and set a “buy” rating for the company in a research report on Wednesday. Melius assumed coverage on shares of Sysco in a research report on Wednesday, December 18th. They set a “hold” rating and a $85.00 price objective on the stock. Finally, Guggenheim restated a “buy” rating and issued a $85.00 target price on shares of Sysco in a report on Wednesday. Four research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $84.85.

About Sysco

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.