Trian Fund Management buys $2,170.1 Million stake in SYSCO Corporation (SYY)

SYSCO Corporation (SYY) : Trian Fund Management scooped up 586,344 additional shares in SYSCO Corporation during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 13, 2016. The investment management firm now holds a total of 43,271,951 shares of SYSCO Corporation which is valued at $2,170.1 Million.SYSCO Corporation makes up approximately 20.40% of Trian Fund Management’s portfolio.

Other Hedge Funds, Including , Boston Private Wealth boosted its stake in SYY in the latest quarter, The investment management firm added 1,940 additional shares and now holds a total of 15,274 shares of SYSCO Corporation which is valued at $765,991. SYSCO Corporation makes up approx 0.03% of Boston Private Wealth’s portfolio. Financial Architects Inc added SYY to its portfolio by purchasing 2,251 company shares during the most recent quarter which is valued at $112,888. SYSCO Corporation makes up approx 0.04% of Financial Architects Inc’s portfolio.Cornerstone Financial Partners boosted its stake in SYY in the latest quarter, The investment management firm added 20,486 additional shares and now holds a total of 36,808 shares of SYSCO Corporation which is valued at $1.8 Million. SYSCO Corporation makes up approx 0.70% of Cornerstone Financial Partners’s portfolio.Smithfield Trust Co boosted its stake in SYY in the latest quarter, The investment management firm added 5,410 additional shares and now holds a total of 20,160 shares of SYSCO Corporation which is valued at $995,299. SYSCO Corporation makes up approx 0.19% of Smithfield Trust Co’s portfolio. British Airways Pensions Investment Management Ltd added SYY to its portfolio by purchasing 590,370 company shares during the most recent quarter which is valued at $29.1 Million. SYSCO Corporation makes up approx 0.90% of British Airways Pensions Investment Management Ltd’s portfolio.

SYSCO Corporation closed down -0.12 points or -0.25% at $48.59 with 39,48,428 shares getting traded on Wednesday. Post opening the session at $48.75, the shares hit an intraday low of $48.55 and an intraday high of $48.82 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

On the company’s financial health, SYSCO Corporation reported $0.46 EPS for the quarter, beating the analyst consensus estimate by $ 0.04 according to the earnings call on May 2, 2016. Analyst had a consensus of $0.42. The company had revenue of $12002.00 million for the quarter, compared to analysts expectations of $11866.48 million. The company’s revenue was up 2.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.30 EPS.

Sysco Corporation (Sysco) along with its subsidiaries and divisions is a North American distributor of food and related products primarily to the foodservice or food-away-from-home industry. The Company provides products and related services to approximately 425000 customers including restaurants healthcare and educational facilities lodging establishments and other foodservice customers. Sysco provides food and related products to the foodservice or food-away-from-home industry. The Company has aggregated its operating companies into a number of segments of which only Broadline and SYGMA are the main segments. Broadline operating companies distribute a line of food products and a variety of non-food products to their customers. SYGMA operating companies distribute a line of food products and a variety of non-food products to chain restaurant customer locations. The Company’s other segments include its specialty produce custom-cut meat and lodging industry products segments.

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