Sysco Corporation $SYY Shares Sold by Cullen Capital Management LLC

Key Points

• Cullen Capital Management reduced its Sysco stake by 9.7% in the fourth quarter, selling 66,497 shares and leaving it with 619,282 shares valued at about $45.6 million.
• Sysco reported mixed quarterly results, missing EPS estimates by $0.01 and coming in slightly below revenue expectations, though revenue still rose 4.7% year over year. The company also guided Q4 2026 EPS at 1.51.
• Sysco raised its dividend to $0.55 per share quarterly from $0.54, putting the annualized payout at $2.20 and the yield at 2.8%. The company also saw insider buying, with director John M. Hinshaw purchasing 13,304 shares.

Cullen Capital Management LLC decreased its holdings in shares of Sysco Corporation (NYSE:SYY - Free Report) by 9.7% during the 4th quarter, according to its most recent 13F 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 period. Cullen Capital Management LLC owned approximately 0.13% of Sysco worth $45,635,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its position in Sysco by 1.3% during the 4th quarter. Vanguard Group Inc. now owns 62,305,343 shares of the company's stock worth $4,591,281,000 after purchasing an additional 814,270 shares during the period. State Street Corp grew its holdings in shares of Sysco by 0.9% in the 3rd quarter. State Street Corp now owns 26,669,576 shares of the company's stock worth $2,195,973,000 after acquiring an additional 246,542 shares during the period. Capital Research Global Investors grew its holdings in shares of Sysco by 0.3% in the 3rd quarter. Capital Research Global Investors now owns 18,360,707 shares of the company's stock worth $1,511,821,000 after acquiring an additional 46,040 shares during the period. Geode Capital Management LLC grew its holdings in shares of Sysco by 1.0% in the 4th quarter. Geode Capital Management LLC now owns 12,728,692 shares of the company's stock worth $934,391,000 after acquiring an additional 131,659 shares during the period. Finally, Norges Bank acquired a new stake in shares of Sysco in the 4th quarter worth approximately $542,780,000. Institutional investors and hedge funds own 83.41% of the company's stock.

Sysco Price Performance

Shares of NYSE:SYY opened at $79.14 on Friday. The business's fifty day moving average price is $74.73 and its two-hundred day moving average price is $78.18. The stock has a market cap of $37.84 billion, a PE ratio of 21.92, a price-to-earnings-growth ratio of 3.25 and a beta of 0.65. The company has a debt-to-equity ratio of 5.58, a quick ratio of 0.80 and a current ratio of 1.33. Sysco Corporation has a one year low of $68.19 and a one year high of $91.85.

Sysco (NYSE:SYY - Get Free Report) last announced its earnings results on Tuesday, April 28th. The company reported $0.94 EPS for the quarter, missing analysts' consensus estimates of $0.95 by ($0.01). Sysco had a net margin of 2.08% and a return on equity of 103.57%. The company had revenue of $20.52 billion for the quarter, compared to analyst estimates of $20.56 billion. During the same quarter last year, the company posted $0.96 EPS. Sysco's quarterly revenue was up 4.7% compared to the same quarter last year. Sysco has set its Q4 2026 guidance at 1.510-1.510 EPS. On average, analysts forecast that Sysco Corporation will post 4.59 EPS for the current fiscal year.

Sysco Increases Dividend

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

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. UBS Group lowered their price target on Sysco from $95.00 to $90.00 and set a "buy" rating on the stock in a report on Thursday, April 2nd. Weiss Ratings cut Sysco from a "buy (b-)" rating to a "hold (c+)" rating in a report on Monday, March 30th. Piper Sandler lowered their price target on Sysco from $83.00 to $77.00 and set a "neutral" rating on the stock in a report on Tuesday, April 7th. Wells Fargo & Company upped their price target on Sysco from $92.00 to $100.00 and gave the stock an "overweight" rating in a report on Thursday, February 19th. Finally, Guggenheim lowered their price target on Sysco from $95.00 to $90.00 and set a "buy" rating on the stock in a report on Thursday, April 2nd. Nine analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $88.15.

Insider Buying and Selling at Sysco

In other Sysco news, Director John M. Hinshaw purchased 13,304 shares of Sysco stock in a transaction on Tuesday, May 26th. The shares were bought at an average price of $75.17 per share, with a total value of $1,000,061.68. Following the purchase, the director directly owned 40,200 shares in the company, valued at $3,021,834. This trade represents a 49.46% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.56% of the stock is currently 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.

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