Conning Lowers stake in SYSCO Corporation (SYY)

SYSCO Corporation (SYY) : Conning reduced its stake in SYSCO Corporation by 20.25% during the most recent quarter end. The investment management company now holds a total of 489,148 shares of SYSCO Corporation which is valued at $25,230,254 after selling 124,182 shares in SYSCO Corporation , the firm said in a disclosure report filed with the SEC on Jul 26, 2016.SYSCO Corporation makes up approximately 1.05% of Conning’s portfolio.

Other Hedge Funds, Including , Seaward Management Limited Partnership reduced its stake in SYY by selling 1,114 shares or 2.3% in the most recent quarter. The Hedge Fund company now holds 47,381 shares of SYY which is valued at $2,443,912. SYSCO Corporation makes up approx 0.13% of Seaward Management Limited Partnership’s portfolio.Daiwa Securities Group boosted its stake in SYY in the latest quarter, The investment management firm added 66,700 additional shares and now holds a total of 85,100 shares of SYSCO Corporation which is valued at $4,389,458. SYSCO Corporation makes up approx 0.03% of Daiwa Securities Group’s portfolio.Leavell Investment Management boosted its stake in SYY in the latest quarter, The investment management firm added 820 additional shares and now holds a total of 5,347 shares of SYSCO Corporation which is valued at $277,028. SYSCO Corporation makes up approx 0.04% of Leavell Investment Management’s portfolio.Chevy Chase Trust Holdings boosted its stake in SYY in the latest quarter, The investment management firm added 4,851 additional shares and now holds a total of 454,695 shares of SYSCO Corporation which is valued at $23,457,715. SYSCO Corporation makes up approx 0.13% of Chevy Chase Trust Holdings’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.

SYSCO Corporation closed down -0.04 points or -0.08% at $51.79 with 35,21,386 shares getting traded on Friday. Post opening the session at $51.65, the shares hit an intraday low of $51.48 and an intraday high of $51.98 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.

Many Wall Street Analysts have commented on SYSCO Corporation. Deutsche Bank Resumed SYSCO Corporation on Jul 18, 2016 to “Hold”, Price Target of the shares are set at $52.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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