Cullen Capital Management LLC Invests $65.41 Million in Sysco Corporation $SYY

Cullen Capital Management LLC acquired a new stake in Sysco Corporation (NYSE:SYY) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 782,576 shares of the company’s stock, valued at approximately $65,408,000. Cullen Capital Management LLC owned about 0.16% of Sysco as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Intech Investment Management LLC increased its stake in Sysco by 53.1% in the 1st quarter. Intech Investment Management LLC now owns 22,310 shares of the company’s stock valued at $1,674,000 after buying an additional 7,742 shares during the last quarter. Schnieders Capital Management LLC. boosted its stake in shares of Sysco by 24.1% during the 2nd quarter. Schnieders Capital Management LLC. now owns 10,310 shares of the company’s stock worth $781,000 after buying an additional 2,000 shares during the last quarter. NewEdge Advisors LLC grew its holdings in shares of Sysco by 62.4% in the 2nd quarter. NewEdge Advisors LLC now owns 35,447 shares of the company’s stock valued at $2,685,000 after acquiring an additional 13,616 shares in the last quarter. Sei Investments Co. grew its holdings in shares of Sysco by 14.2% in the 2nd quarter. Sei Investments Co. now owns 344,504 shares of the company’s stock valued at $26,092,000 after acquiring an additional 42,903 shares in the last quarter. Finally, Treasurer of the State of North Carolina increased its position in shares of Sysco by 0.8% in the second quarter. Treasurer of the State of North Carolina now owns 226,648 shares of the company’s stock valued at $17,166,000 after acquiring an additional 1,710 shares during the last quarter. Institutional investors own 83.41% of the company’s stock.

Sysco Stock Performance

SYY opened at $83.86 on Tuesday. The company has a debt-to-equity ratio of 4.62, a current ratio of 1.28 and a quick ratio of 0.77. The business has a fifty day simple moving average of $82.74 and a 200 day simple moving average of $80.62. Sysco Corporation has a 1 year low of $68.19 and a 1 year high of $91.85. The company has a market capitalization of $40.15 billion, a PE ratio of 22.91, a price-to-earnings-growth ratio of 2.87 and a beta of 0.64.

Sysco (NYSE:SYY) last posted its quarterly earnings data on Tuesday, August 4th. The company reported $1.53 earnings per share for the quarter, topping the consensus estimate of $1.51 by $0.02. Sysco had a return on equity of 95.05% and a net margin of 2.08%.The firm had revenue of $22.12 billion for the quarter, compared to analysts’ expectations of $21.95 billion. During the same quarter last year, the business earned $1.48 EPS. The company’s quarterly revenue 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. Research analysts expect that Sysco Corporation will post 5.12 EPS for the current year.

Sysco Dividend Announcement

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

Insider Buying and Selling

In other Sysco news, EVP Ronald L. Phillips sold 6,285 shares of Sysco stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $83.94, for a total value of $527,562.90. Following the completion of the sale, the executive vice president owned 39,970 shares in the company, valued at $3,355,081.80. The trade was a 13.59% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 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. Corporate insiders own 0.56% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on SYY shares. Wall Street Zen lowered Sysco from a “buy” rating to a “hold” rating in a report on Saturday, May 2nd. Weiss Ratings raised Sysco from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, August 19th. Barclays dropped their price objective on Sysco from $92.00 to $86.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 29th. Sanford C. Bernstein cut their price objective on Sysco from $90.00 to $85.00 and set a “market perform” rating for the company in a report on Wednesday, April 29th. Finally, UBS Group boosted their target price on shares of Sysco from $90.00 to $95.00 and gave the stock a “buy” rating in a report on Wednesday, August 5th. Nine investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $89.50.

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.