SYSCO Corporation (SYY) : Wellington Shields Capital Management reduced its stake in SYSCO Corporation by 0.82% during the most recent quarter end. The investment management company now holds a total of 194,412 shares of SYSCO Corporation which is valued at $9,598,120 after selling 1,601 shares in SYSCO Corporation , the firm said in a disclosure report filed with the SEC on May 2, 2016.SYSCO Corporation makes up approximately 1.65% of Wellington Shields Capital Management’s portfolio.
SYSCO Corporation opened for trading at $48.91 and hit $49.49 on the upside on Friday, eventually ending the session at $49.37, with a gain of 1.02% or 0.5 points. The heightened volatility saw the trading volume jump to 41,07,714 shares. Company has a market cap of $27,821 M.
Other Hedge Funds, Including , Advisory Services Network boosted its stake in SYY in the latest quarter, The investment management firm added 1,505 additional shares and now holds a total of 29,253 shares of SYSCO Corporation which is valued at $1,338,910. SYSCO Corporation makes up approx 0.36% of Advisory Services Network’s portfolio.Transamerica Financial Advisors boosted its stake in SYY in the latest quarter, The investment management firm added 17,236 additional shares and now holds a total of 139,651 shares of SYSCO Corporation which is valued at $6,391,826. SYSCO Corporation makes up approx 0.54% of Transamerica Financial Advisors’s portfolio.Carroll Financial Associates reduced its stake in SYY by selling 1,200 shares or 2.78% in the most recent quarter. The Hedge Fund company now holds 41,968 shares of SYY which is valued at $1,920,875. SYSCO Corporation makes up approx 0.35% of Carroll Financial Associates’s portfolio.
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.
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 (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.