Sysco Co. (NYSE:SYY) Shares Bought by Cullen Capital Management LLC

Cullen Capital Management LLC boosted its stake in Sysco Co. (NYSE:SYY - Free Report) by 294.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 670,168 shares of the company's stock after buying an additional 500,307 shares during the quarter. Cullen Capital Management LLC owned approximately 0.14% of Sysco worth $51,241,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Boston Partners raised its stake in Sysco by 143.7% in the 4th quarter. Boston Partners now owns 12,184,114 shares of the company's stock valued at $930,296,000 after purchasing an additional 7,184,754 shares during the last quarter. Norges Bank purchased a new stake in shares of Sysco during the fourth quarter worth $450,441,000. State Street Corp raised its position in shares of Sysco by 11.1% in the third quarter. State Street Corp now owns 27,294,612 shares of the company's stock valued at $2,130,617,000 after buying an additional 2,721,449 shares during the last quarter. Mondrian Investment Partners LTD acquired a new position in Sysco during the fourth quarter worth about $123,928,000. Finally, Raymond James Financial Inc. purchased a new stake in Sysco during the 4th quarter valued at about $97,078,000. 83.41% of the stock is currently owned by institutional investors and hedge funds.

Sysco Stock Performance

Shares of SYY stock traded down $2.29 during mid-day trading on Thursday, hitting $68.78. 1,136,009 shares of the stock were exchanged, compared to its average volume of 3,699,342. The stock has a market capitalization of $33.65 billion, a price-to-earnings ratio of 17.68, a P/E/G ratio of 1.88 and a beta of 0.91. Sysco Co. has a 12-month low of $67.12 and a 12-month high of $82.23. The stock's fifty day simple moving average is $72.68 and its two-hundred day simple moving average is $74.85. The company has a debt-to-equity ratio of 5.66, a quick ratio of 0.68 and a current ratio of 1.20.

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Sysco (NYSE:SYY - Get Free Report) last issued its quarterly earnings results on Tuesday, January 28th. The company reported $0.93 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.93. Sysco had a return on equity of 106.30% and a net margin of 2.40%. During the same period in the previous year, the firm posted $0.89 EPS. On average, analysts forecast that Sysco Co. will post 4.58 EPS for the current year.

Sysco Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Friday, April 4th will be issued a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a yield of 2.97%. The ex-dividend date of this dividend is Friday, April 4th. Sysco's dividend payout ratio is presently 52.44%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Guggenheim reaffirmed a "buy" rating and issued a $85.00 price target on shares of Sysco in a report on Wednesday, January 29th. UBS Group lowered their price target on shares of Sysco from $87.00 to $86.00 and set a "buy" rating on the stock in a research report on Wednesday, January 29th. StockNews.com cut shares of Sysco from a "strong-buy" rating to a "buy" rating in a research report on Thursday, March 20th. Melius started coverage on shares of Sysco in a report on Wednesday, December 18th. They issued a "hold" rating and a $85.00 target price on the stock. Finally, JPMorgan Chase & Co. cut their price target on shares of Sysco from $86.00 to $82.00 and set an "overweight" rating for the company in a report on Tuesday, February 4th. Four equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $84.77.

Sysco Company Profile

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.