Summit Financial Wealth Advisors Lowers stake in SYSCO Corporation (SYY)

SYSCO Corporation (SYY) : Summit Financial Wealth Advisors reduced its stake in SYSCO Corporation by 4.04% during the most recent quarter end. The investment management company now holds a total of 119,580 shares of SYSCO Corporation which is valued at $6,169,132 after selling 5,035 shares in SYSCO Corporation , the firm said in a disclosure report filed with the SEC on Jul 6, 2016.SYSCO Corporation makes up approximately 2.55% of Summit Financial Wealth Advisors’s portfolio.

Other Hedge Funds, Including , Iowa State Bank reduced its stake in SYY by selling 1,085 shares or 1.12% in the most recent quarter. The Hedge Fund company now holds 96,135 shares of SYY which is valued at $4,959,605. SYSCO Corporation makes up approx 2.51% of Iowa State Bank’s portfolio.First Financial Bank N.a. – Trust Division reduced its stake in SYY by selling 95 shares or 0.83% in the most recent quarter. The Hedge Fund company now holds 11,305 shares of SYY which is valued at $578,816. SYSCO Corporation makes up approx 0.11% of First Financial Bank N.a. – Trust Division’s portfolio. Pensionfund Sabic added SYY to its portfolio by purchasing 36,000 company shares during the most recent quarter which is valued at $1,843,200. SYSCO Corporation makes up approx 0.55% of Pensionfund Sabic’s portfolio.Indiana Trust Investment Management Co reduced its stake in SYY by selling 165 shares or 1.44% in the most recent quarter. The Hedge Fund company now holds 11,278 shares of SYY which is valued at $577,434. SYSCO Corporation makes up approx 0.30% of Indiana Trust Investment Management Co’s portfolio.

SYSCO Corporation opened for trading at $51.59 and hit $51.81 on the upside on Monday, eventually ending the session at $51.64, with a gain of 0.10% or 0.05 points. The heightened volatility saw the trading volume jump to 25,77,136 shares. Company has a market cap of $29,100 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.

Many Wall Street Analysts have commented on SYSCO Corporation. BofA/Merrill Initiated SYSCO Corporation on Jun 20, 2016 to “Neutral”, Price Target of the shares are set at $52.

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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