Cullen Capital Management LLC Acquires Shares of 782,576 Sysco Corporation $SYY

Cullen Capital Management LLC bought a new stake in shares of Sysco Corporation (NYSE:SYY) in the second quarter, HoldingsChannel reports. The institutional investor bought 782,576 shares of the company’s stock, valued at approximately $65,408,000.

Several other institutional investors and hedge funds have also bought and sold shares of SYY. Lloyd Advisory Services LLC. acquired a new stake in Sysco during the fourth quarter worth about $25,000. Motiv8 Investments LLC acquired a new position in shares of Sysco in the 4th quarter valued at approximately $25,000. Sunbelt Securities Inc. lifted its holdings in shares of Sysco by 87.6% during the 1st quarter. Sunbelt Securities Inc. now owns 364 shares of the company’s stock worth $26,000 after acquiring an additional 170 shares during the period. Torren Management LLC bought a new stake in shares of Sysco during the 4th quarter worth approximately $27,000. Finally, Bard Associates Inc. acquired a new stake in shares of Sysco during the 4th quarter worth approximately $27,000. Institutional investors own 83.41% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Melius Research cut shares of Sysco from a “hold” rating to a “sell” rating in a research note on Tuesday, July 7th. Piper Sandler lifted their price target on Sysco from $77.00 to $84.00 and gave the company a “neutral” rating in a research note on Wednesday, August 5th. Sanford C. Bernstein lowered their price target on Sysco from $90.00 to $85.00 and set a “market perform” rating for the company in a report on Wednesday, April 29th. Wall Street Zen lowered Sysco from a “buy” rating to a “hold” rating in a research note on Saturday, May 2nd. Finally, Morgan Stanley raised their price objective on Sysco from $84.00 to $88.00 and gave the company an “equal weight” rating in a research note on Thursday, July 16th. Nine research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $89.50.

Sysco Stock Performance

Shares of Sysco stock opened at $83.86 on Tuesday. The company’s 50 day moving average price is $82.74 and its two-hundred day moving average price is $80.62. The firm has a market capitalization of $40.15 billion, a P/E ratio of 22.91, a P/E/G ratio of 2.87 and a beta of 0.64. Sysco Corporation has a fifty-two week low of $68.19 and a fifty-two week high of $91.85. The company has a debt-to-equity ratio of 4.62, a current ratio of 1.28 and a quick ratio of 0.77.

Sysco (NYSE:SYY) last announced its quarterly earnings results on Tuesday, August 4th. The company reported $1.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.51 by $0.02. Sysco had a net margin of 2.08% and a return on equity of 95.05%. The company had revenue of $22.12 billion during the quarter, compared to the consensus estimate of $21.95 billion. During the same period in the prior year, the business earned $1.48 earnings per share. The company’s revenue for the quarter was up 4.7% compared to the same quarter last year. Sysco has set its FY 2027 guidance at 5.025-5.117 EPS and its Q1 2027 guidance at 1.180-1.200 EPS. On average, equities analysts forecast that Sysco Corporation will post 5.12 earnings per share for the current fiscal year.

Sysco Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 23rd. Stockholders of record on Friday, October 2nd will be paid a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date of this dividend is Friday, October 2nd. Sysco’s dividend payout ratio (DPR) is presently 60.11%.

Insider Buying and Selling at Sysco

In other news, EVP Ronald L. Phillips sold 367 shares of the company’s stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $83.39, for a total value of $30,604.13. Following the completion of the transaction, the executive vice president owned 38,650 shares of the company’s stock, valued at $3,223,023.50. This represents a 0.94% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Company insiders own 0.56% of the company’s stock.

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.