Institutional Family Asset Management Lowers stake in SYSCO Corporation (SYY)

SYSCO Corporation (SYY) : Institutional Family Asset Management reduced its stake in SYSCO Corporation by 0.24% during the most recent quarter end. The investment management company now holds a total of 63,330 shares of SYSCO Corporation which is valued at $3.2 Million after selling 150 shares in SYSCO Corporation , the firm said in a disclosure report filed with the SEC on May 11, 2016.SYSCO Corporation makes up approximately 1.16% of Institutional Family Asset Management’s portfolio.

Other Hedge Funds, Including , Stadion Money Management reduced its stake in SYY by selling 3,301 shares or 5.66% in the most recent quarter. The Hedge Fund company now holds 55,053 shares of SYY which is valued at $2.7 Million. SYSCO Corporation makes up approx 0.08% of Stadion Money Management’s portfolio.

SYSCO Corporation opened for trading at $50.11 and hit $50.5 on the upside on Monday, eventually ending the session at $50.21, with a gain of 0.12% or 0.06 points. The heightened volatility saw the trading volume jump to 23,10,660 shares. Company has a market cap of $28,294 M.

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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