Stockman Asset Management buys $2.9 Million stake in SYSCO Corporation (SYY)

SYSCO Corporation (SYY) : Stockman Asset Management scooped up 1,114 additional shares in SYSCO Corporation during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 12, 2016. The investment management firm now holds a total of 57,505 shares of SYSCO Corporation which is valued at $2.9 Million.SYSCO Corporation makes up approximately 2.28% of Stockman Asset Management’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.Norges Bank boosted its stake in SYY in the latest quarter, The investment management firm added 270,674 additional shares and now holds a total of 5,023,721 shares of SYSCO Corporation which is valued at $251.9 Million. SYSCO Corporation makes up approx 0.13% of Norges Bank’s portfolio.Bruderman Asset Management reduced its stake in SYY by selling 342 shares or 11.17% in the most recent quarter. The Hedge Fund company now holds 2,720 shares of SYY which is valued at $136,408. SYSCO Corporation makes up approx 0.05% of Bruderman Asset Management’s portfolio.Keating Investment Counselors Inc boosted its stake in SYY in the latest quarter, The investment management firm added 5,300 additional shares and now holds a total of 69,635 shares of SYSCO Corporation which is valued at $3.4 Million. SYSCO Corporation makes up approx 1.67% of Keating Investment Counselors Inc’s portfolio.Nisa Investment Advisors L.l.c. reduced its stake in SYY by selling 5,400 shares or 2.74% in the most recent quarter. The Hedge Fund company now holds 191,348 shares of SYY which is valued at $8.8 Million. SYSCO Corporation makes up approx 0.13% of Nisa Investment Advisors L.l.c.’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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