Sysco Co. (NYSE:SYY) Stock Holdings Increased by Cullen Capital Management LLC

Cullen Capital Management LLC boosted its stake in shares of Sysco Co. (NYSE:SYY) by 294.5% during the fourth quarter, HoldingsChannel.com reports. The firm owned 670,168 shares of the company’s stock after acquiring an additional 500,307 shares during the period. Cullen Capital Management LLC’s holdings in Sysco were worth $51,241,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. KCM Investment Advisors LLC grew its holdings in shares of Sysco by 11.7% during the 4th quarter. KCM Investment Advisors LLC now owns 10,585 shares of the company’s stock valued at $809,000 after acquiring an additional 1,105 shares in the last quarter. Resona Asset Management Co. Ltd. purchased a new position in Sysco in the fourth quarter valued at about $12,519,000. Prudential PLC increased its position in Sysco by 6.9% in the 4th quarter. Prudential PLC now owns 16,262 shares of the company’s stock worth $1,243,000 after purchasing an additional 1,044 shares during the last quarter. Atlas Capital Advisors Inc. raised its stake in shares of Sysco by 118,750.0% during the 4th quarter. Atlas Capital Advisors Inc. now owns 9,508 shares of the company’s stock worth $727,000 after purchasing an additional 9,500 shares in the last quarter. Finally, Arete Wealth Advisors LLC lifted its holdings in shares of Sysco by 14.8% during the 4th quarter. Arete Wealth Advisors LLC now owns 3,410 shares of the company’s stock valued at $261,000 after buying an additional 439 shares during the last quarter. Institutional investors and hedge funds own 83.41% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on SYY. Morgan Stanley dropped their price objective on Sysco from $79.00 to $77.00 and set an “equal weight” rating on the stock in a report on Wednesday, January 29th. Guggenheim restated a “buy” rating and set a $85.00 price target on shares of Sysco in a report on Wednesday, January 29th. StockNews.com lowered shares of Sysco from a “strong-buy” rating to a “buy” rating in a research note on Thursday, March 20th. Melius started coverage on Sysco in a report on Wednesday, December 18th. They set a “hold” rating and a $85.00 target price on the stock. Finally, Wells Fargo & Company upped their price target on Sysco from $82.00 to $87.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 26th. Four equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, Sysco presently has a consensus rating of “Moderate Buy” and a consensus price target of $84.77.

Sysco Stock Performance

SYY opened at $71.41 on Friday. The company has a quick ratio of 0.68, a current ratio of 1.20 and a debt-to-equity ratio of 5.66. The stock’s 50 day moving average price is $73.07 and its two-hundred day moving average price is $75.06. The firm has a market capitalization of $34.94 billion, a P/E ratio of 18.36, a price-to-earnings-growth ratio of 1.88 and a beta of 1.11. Sysco Co. has a 12-month low of $69.03 and a 12-month high of $82.23.

Sysco (NYSE:SYY) last announced its quarterly earnings data on Tuesday, January 28th. The company reported $0.93 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.93. Sysco had a net margin of 2.40% and a return on equity of 106.30%. During the same period in the prior year, the business earned $0.89 EPS. On average, equities analysts forecast that Sysco Co. will post 4.58 earnings per share for the current year.

Sysco Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Friday, April 4th will be issued a dividend of $0.51 per share. The ex-dividend date of this dividend is Friday, April 4th. This represents a $2.04 annualized dividend and a dividend yield of 2.86%. Sysco’s payout ratio is 52.44%.

About Sysco

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.