Sysco Co. (NYSE:SYY) Shares Sold by Costello Asset Management INC

Costello Asset Management INC trimmed its holdings in Sysco Co. (NYSE:SYY - Free Report) by 28.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 31,515 shares of the company's stock after selling 12,612 shares during the quarter. Sysco comprises approximately 1.6% of Costello Asset Management INC's portfolio, making the stock its 22nd largest holding. Costello Asset Management INC's holdings in Sysco were worth $2,460,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in SYY. Capital World Investors raised its position in Sysco by 17.5% in the first quarter. Capital World Investors now owns 10,984,950 shares of the company's stock valued at $891,758,000 after purchasing an additional 1,637,232 shares during the period. Ameriprise Financial Inc. raised its holdings in Sysco by 26.1% in the 2nd quarter. Ameriprise Financial Inc. now owns 8,623,178 shares of the company's stock valued at $615,076,000 after buying an additional 1,782,180 shares during the period. Capital Research Global Investors lifted its position in Sysco by 112.8% in the first quarter. Capital Research Global Investors now owns 6,612,092 shares of the company's stock valued at $536,770,000 after buying an additional 3,504,740 shares during the last quarter. Diamond Hill Capital Management Inc. boosted its stake in Sysco by 49.8% during the second quarter. Diamond Hill Capital Management Inc. now owns 6,012,607 shares of the company's stock worth $429,240,000 after buying an additional 1,997,895 shares during the period. Finally, ProShare Advisors LLC increased its position in shares of Sysco by 103.0% during the second quarter. ProShare Advisors LLC now owns 4,746,176 shares of the company's stock valued at $338,830,000 after acquiring an additional 2,408,226 shares during the last quarter. Institutional investors and hedge funds own 83.41% of the company's stock.

Insider Activity

In other news, SVP Eve M. Mcfadden sold 4,036 shares of the firm's stock in a transaction that occurred 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 owns 48,451 shares of the company's stock, valued at approximately $3,638,670.10. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.54% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. JPMorgan Chase & Co. raised their target price on shares of Sysco from $85.00 to $88.00 and gave the company an "overweight" rating in a report on Monday, September 16th. Jefferies Financial Group increased their target price on Sysco from $91.00 to $92.00 and gave the company a "buy" rating in a report on Wednesday, September 25th. Wells Fargo & Company decreased their price target on Sysco from $87.00 to $82.00 and set an "overweight" rating for the company in a report on Wednesday, October 30th. Barclays increased their price objective on Sysco from $85.00 to $88.00 and gave the company an "overweight" rating in a report on Wednesday, July 31st. Finally, StockNews.com downgraded Sysco from a "strong-buy" rating to a "buy" rating in a report on Monday, October 21st. Two research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company's stock. Based on data from MarketBeat, Sysco has a consensus rating of "Moderate Buy" and an average price target of $85.77.

Sysco Price Performance

SYY stock traded up $0.52 during midday trading on Friday, hitting $77.39. 2,237,182 shares of the stock were exchanged, compared to its average volume of 3,353,991. Sysco Co. has a fifty-two week low of $66.27 and a fifty-two week high of $82.89. The stock has a market cap of $38.02 billion, a price-to-earnings ratio of 19.89, a PEG ratio of 2.03 and a beta of 1.20. The stock's 50-day moving average price is $76.14 and its 200-day moving average price is $74.74. 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 - Get Free Report) last posted its quarterly earnings data on Tuesday, October 29th. The company reported $1.09 EPS for the quarter, missing analysts' consensus estimates of $1.13 by ($0.04). Sysco had a return on equity of 101.04% and a net margin of 2.44%. The company had revenue of $20.48 billion for the quarter, compared to analysts' expectations of $20.47 billion. During the same quarter in the prior year, the business posted $1.07 EPS. The company's revenue for the quarter was up 4.4% compared to the same quarter last year. Research analysts predict that Sysco Co. will post 4.57 earnings per share for the current year.

Sysco Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Friday, October 4th were issued a $0.51 dividend. The ex-dividend date was Friday, October 4th. This represents a $2.04 annualized dividend and a yield of 2.64%. Sysco's dividend payout ratio is currently 52.44%.

Sysco Company 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.