Miles Capital Lowers stake in SYSCO Corporation (SYY)

SYSCO Corporation (SYY) : Miles Capital reduced its stake in SYSCO Corporation by 2.42% during the most recent quarter end. The investment management company now holds a total of 25,803 shares of SYSCO Corporation which is valued at $1.3 Million after selling 639 shares in SYSCO Corporation , the firm said in a disclosure report filed with the SEC on May 12, 2016.SYSCO Corporation makes up approximately 0.87% of Miles Capital’s portfolio.

Other Hedge Funds, Including , United Services Automobile Association reduced its stake in SYY by selling 324,275 shares or 66.58% in the most recent quarter. The Hedge Fund company now holds 162,756 shares of SYY which is valued at $8.2 Million. SYSCO Corporation makes up approx 0.03% of United Services Automobile Association’s portfolio.Prentiss Smith Co Inc reduced its stake in SYY by selling 1,700 shares or 80.95% in the most recent quarter. The Hedge Fund company now holds 400 shares of SYY which is valued at $19,748. SYSCO Corporation makes up approx 0.01% of Prentiss Smith Co Inc’s portfolio. Spectrum Management Group added SYY to its portfolio by purchasing 1,755 company shares during the most recent quarter which is valued at $80,853. SYSCO Corporation makes up approx 0.03% of Spectrum Management Group’s portfolio.

SYSCO Corporation closed down -0.52 points or -1.06% at $48.55 with 41,01,473 shares getting traded on Friday. Post opening the session at $49.13, the shares hit an intraday low of $48.45 and an intraday high of $49.32 and the price fluctuated in this range throughout the day.Shares ended Friday 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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