A.r.t. Advisors buys $8,443,558 stake in SYSCO Corporation (SYY)

SYSCO Corporation (SYY) : A.r.t. Advisors scooped up 23,000 additional shares in SYSCO Corporation during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 15, 2016. The investment management firm now holds a total of 161,723 shares of SYSCO Corporation which is valued at $8,443,558.SYSCO Corporation makes up approximately 0.40% of A.r.t. Advisors’s portfolio.

Other Hedge Funds, Including , Winfield Associates boosted its stake in SYY in the latest quarter, The investment management firm added 850 additional shares and now holds a total of 7,700 shares of SYSCO Corporation which is valued at $402,017. SYSCO Corporation makes up approx 0.25% of Winfield Associates’s portfolio.Hbk Sorce Advisory reduced its stake in SYY by selling 295 shares or 4.2% in the most recent quarter. The Hedge Fund company now holds 6,723 shares of SYY which is valued at $351,008. SYSCO Corporation makes up approx 0.07% of Hbk Sorce Advisory’s portfolio. Sequoia Financial Advisors added SYY to its portfolio by purchasing 4,168 company shares during the most recent quarter which is valued at $215,861. SYSCO Corporation makes up approx 0.06% of Sequoia Financial Advisors’s portfolio. Park Avenue Securities added SYY to its portfolio by purchasing 6,270 company shares during the most recent quarter which is valued at $323,407. SYSCO Corporation makes up approx 0.05% of Park Avenue Securities’s portfolio.Goelzer Investment Management reduced its stake in SYY by selling 2,212 shares or 1.76% in the most recent quarter. The Hedge Fund company now holds 123,280 shares of SYY which is valued at $6,421,655. SYSCO Corporation makes up approx 0.85% of Goelzer Investment Management’s portfolio.

SYSCO Corporation opened for trading at $51.99 and hit $52.06 on the upside on Thursday, eventually ending the session at $52.06, with a gain of 0.39% or 0.2 points. The heightened volatility saw the trading volume jump to 41,86,701 shares. Company has a market cap of $28,900 M.

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.

Investors should note that on Aug 26, 2016, SYSCO Corporation announced a cash dividend of $0.3100. The company’s management has announced Oct 5, 2016 as the ex-dividend date and fixed the record date on Oct 7, 2016. The payable date has been fixed on Oct 28, 2016.

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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