Kernodle Katon Asset Management Group buys $1,185,167 stake in SYSCO Corporation (SYY)

SYSCO Corporation (SYY) : Kernodle Katon Asset Management Group scooped up 10,469 additional shares in SYSCO Corporation during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 11, 2016. The investment management firm now holds a total of 22,700 shares of SYSCO Corporation which is valued at $1,185,167.SYSCO Corporation makes up approximately 1.07% of Kernodle Katon Asset Management Group’s portfolio.

Other Hedge Funds, Including , Ancora Advisors reduced its stake in SYY by selling 3,500 shares or 19.06% in the most recent quarter. The Hedge Fund company now holds 14,863 shares of SYY which is valued at $775,997. SYSCO Corporation makes up approx 0.09% of Ancora Advisors’s portfolio. Monroe Bank Trustmi sold out all of its stake in SYY during the most recent quarter. The investment firm sold 950 shares of SYY which is valued $49,600.Bradley Foster Sargent Incct reduced its stake in SYY by selling 4,330 shares or 16.7% in the most recent quarter. The Hedge Fund company now holds 21,597 shares of SYY which is valued at $1,105,982. SYSCO Corporation makes up approx 0.05% of Bradley Foster Sargent Incct’s portfolio.Sprucegrove Investment Management Ltd reduced its stake in SYY by selling 116,300 shares or 32.76% in the most recent quarter. The Hedge Fund company now holds 238,700 shares of SYY which is valued at $12,312,146. SYSCO Corporation makes up approx 0.48% of Sprucegrove Investment Management Ltd’s portfolio.Fragasso Group boosted its stake in SYY in the latest quarter, The investment management firm added 514 additional shares and now holds a total of 27,584 shares of SYSCO Corporation which is valued at $1,435,196. SYSCO Corporation makes up approx 0.53% of Fragasso Group’s portfolio.

SYSCO Corporation closed down -0.15 points or -0.28% at $52.77 with 22,72,881 shares getting traded on Tuesday. Post opening the session at $53, the shares hit an intraday low of $52.735 and an intraday high of $53.2 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.

On the company’s financial health, SYSCO Corporation reported $0.64 EPS for the quarter, beating the analyst consensus estimate by $ 0.04 according to the earnings call on Aug 15, 2016. Analyst had a consensus of $0.60. The company had revenue of $13648.00 million for the quarter, compared to analysts expectations of $13677.60 million. The company’s revenue was up 10.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.52 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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