SYSCO Corporation (SYY) : Coastline Trust Co reduced its stake in SYSCO Corporation by 3.49% during the most recent quarter end. The investment management company now holds a total of 153,690 shares of SYSCO Corporation which is valued at $7,195,766 after selling 5,552 shares in SYSCO Corporation , the firm said in a disclosure report filed with the SEC on Apr 15, 2016.SYSCO Corporation makes up approximately 1.52% of Coastline Trust Co’s portfolio.
SYSCO Corporation closed down -1.17 points or -2.50% at $45.58 with 48,86,185 shares getting traded on Wednesday. Post opening the session at $46.68, the shares hit an intraday low of $45.57 and an intraday high of $46.71 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.
Other Hedge Funds, Including , Palisade Asset Management boosted its stake in SYY in the latest quarter, The investment management firm added 882 additional shares and now holds a total of 178,905 shares of SYSCO Corporation which is valued at $8,376,332. SYSCO Corporation makes up approx 1.62% of Palisade Asset Management’s portfolio.Alpha Windward reduced its stake in SYY by selling 277 shares or 5.62% in the most recent quarter. The Hedge Fund company now holds 4,653 shares of SYY which is valued at $217,853. SYSCO Corporation makes up approx 0.16% of Alpha Windward’s portfolio.Investment Counsel reduced its stake in SYY by selling 7,200 shares or 14.12% in the most recent quarter. The Hedge Fund company now holds 43,807 shares of SYY which is valued at $2,051,044. SYSCO Corporation makes up approx 1.90% of Investment Counsel’s portfolio.
On the company’s financial health, SYSCO Corporation reported $0.48 EPS for the quarter, beating the analyst consensus estimate by $ 0.07 according to the earnings call on Feb 1, 2016. Analyst had a consensus of $0.41. The company had revenue of $12153.63 million for the quarter, compared to analysts expectations of $12123.58 million. The company’s revenue was up .6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.41 EPS.
Many Wall Street Analysts have commented on SYSCO Corporation. Argus Upgraded SYSCO Corporation on Feb 5, 2016 to ” Buy”, Price Target of the shares are set at $50.SYSCO Corporation was Downgraded by Morgan Stanley to ” Underweight” on Feb 2, 2016.
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 Companys other segments include its specialty produce custom-cut meat and lodging industry products segments.