Isthmus Partners Lowers stake in SYSCO Corporation (SYY)

SYSCO Corporation (SYY) : Isthmus Partners reduced its stake in SYSCO Corporation by 2.91% during the most recent quarter end. The investment management company now holds a total of 139,128 shares of SYSCO Corporation which is valued at $7,201,265 after selling 4,166 shares in SYSCO Corporation , the firm said in a disclosure report filed with the SEC on Aug 8, 2016.SYSCO Corporation makes up approximately 2.25% of Isthmus Partners’s portfolio.

Other Hedge Funds, Including , Bailard added SYY to its portfolio by purchasing 5,577 company shares during the most recent quarter which is valued at $288,666. SYSCO Corporation makes up approx 0.03% of Bailard’s portfolio.Mitsubishi Ufj Kokusai Asset Management Ltd. boosted its stake in SYY in the latest quarter, The investment management firm added 64,399 additional shares and now holds a total of 146,025 shares of SYSCO Corporation which is valued at $7,495,463. SYSCO Corporation makes up approx 0.19% of Mitsubishi Ufj Kokusai Asset Management Ltd.’s portfolio.South Texas Money Management Ltd boosted its stake in SYY in the latest quarter, The investment management firm added 271,087 additional shares and now holds a total of 623,312 shares of SYSCO Corporation which is valued at $31,994,605. SYSCO Corporation makes up approx 1.74% of South Texas Money Management Ltd’s portfolio.Prospera Financial Services Inc boosted its stake in SYY in the latest quarter, The investment management firm added 151 additional shares and now holds a total of 11,087 shares of SYSCO Corporation which is valued at $571,867. SYSCO Corporation makes up approx 0.12% of Prospera Financial Services Inc’s portfolio. Alethea Capital Management sold out all of its stake in SYY during the most recent quarter. The investment firm sold 57,328 shares of SYY which is valued $2,986,216.

SYSCO Corporation closed down -0.03 points or -0.06% at $52.18 with 85,73,434 shares getting traded on Monday. Post opening the session at $53.64, the shares hit an intraday low of $51.78 and an intraday high of $53.97 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

On the company’s financial health, SYSCO Corporation reported $0.64 EPS for the quarter, beating the analyst consensus estimate by $ 0.04 according to the earnings call on Aug 15, 2016. Analyst had a consensus of $0.60. The company had revenue of $13648.00 million for the quarter, compared to analysts expectations of $13677.60 million. The company’s revenue was up 10.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.52 EPS.

Many Wall Street Analysts have commented on SYSCO Corporation. Deutsche Bank Resumed SYSCO Corporation on Jul 18, 2016 to “Hold”, Price Target of the shares are set at $52.BofA/Merrill Initiated SYSCO Corporation on Jun 20, 2016 to “Neutral”, Price Target of the shares are set at $52.

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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