Cullen Capital Management LLC Cuts Holdings in Sysco Corporation $SYY

Cullen Capital Management LLC reduced its position in Sysco Corporation (NYSE:SYY) by 9.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 619,282 shares of the company’s stock after selling 66,497 shares during the quarter. Cullen Capital Management LLC’s holdings in Sysco were worth $45,635,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in SYY. Norges Bank purchased a new position in shares of Sysco in the 4th quarter worth $542,780,000. Wellington Management Group LLP raised its position in shares of Sysco by 3,977.1% in the 3rd quarter. Wellington Management Group LLP now owns 4,711,376 shares of the company’s stock worth $387,935,000 after buying an additional 4,595,819 shares during the period. Goldman Sachs Group Inc. raised its position in shares of Sysco by 45.0% in the 4th quarter. Goldman Sachs Group Inc. now owns 5,651,682 shares of the company’s stock worth $416,472,000 after buying an additional 1,754,306 shares during the period. Mondrian Investment Partners LTD purchased a new position in shares of Sysco in the 3rd quarter worth $142,237,000. Finally, Marshall Wace LLP raised its position in shares of Sysco by 102.6% in the 3rd quarter. Marshall Wace LLP now owns 2,359,471 shares of the company’s stock worth $194,279,000 after buying an additional 1,194,815 shares during the period. 83.41% of the stock is owned by hedge funds and other institutional investors.

Sysco Stock Down 0.6%

Shares of NYSE SYY opened at $79.14 on Friday. The stock has a fifty day moving average price of $74.73 and a 200 day moving average price of $78.18. The company has a current ratio of 1.33, a quick ratio of 0.80 and a debt-to-equity ratio of 5.58. The company has a market cap of $37.84 billion, a P/E ratio of 21.92, a P/E/G ratio of 3.25 and a beta of 0.65. Sysco Corporation has a 12-month low of $68.19 and a 12-month high of $91.85.

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

Sysco Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 24th. Stockholders of record on Thursday, July 2nd will be paid a dividend of $0.55 per share. This is a boost from Sysco’s previous quarterly dividend of $0.54. This represents a $2.20 annualized dividend and a dividend yield of 2.8%. The ex-dividend date is Thursday, July 2nd. Sysco’s payout ratio is 59.83%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. Sanford C. Bernstein cut their target price on Sysco from $90.00 to $85.00 and set a “market perform” rating on the stock in a research report on Wednesday, April 29th. Barclays lowered their price target on Sysco from $92.00 to $86.00 and set an “overweight” rating for the company in a report on Wednesday, April 29th. Guggenheim lowered their price target on Sysco from $95.00 to $90.00 and set a “buy” rating for the company in a report on Thursday, April 2nd. Deutsche Bank Aktiengesellschaft downgraded Sysco from a “buy” rating to a “hold” rating and set a $84.00 price target for the company. in a report on Tuesday, April 28th. Finally, Weiss Ratings downgraded Sysco from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday, March 30th. Nine investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $88.15.

Insider Buying and Selling at Sysco

In other Sysco news, Director John M. Hinshaw bought 13,304 shares of the stock in a transaction dated Tuesday, May 26th. The stock was bought at an average cost of $75.17 per share, for a total transaction of $1,000,061.68. Following the completion of the purchase, the director directly owned 40,200 shares of the company’s stock, valued at approximately $3,021,834. The trade was a 49.46% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.56% of the stock is owned by corporate insiders.

About Sysco

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.