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

SYSCO Corporation (SYY) : Summit Financial Wealth Advisors reduced its stake in SYSCO Corporation by 15.7% during the most recent quarter end. The investment management company now holds a total of 100,805 shares of SYSCO Corporation which is valued at $4,815,455 after selling 18,775 shares in SYSCO Corporation , the firm said in a disclosure report filed with the SEC on Oct 5, 2016.SYSCO Corporation makes up approximately 2.11% of Summit Financial Wealth Advisors’s portfolio.

Other Hedge Funds, Including , Acropolis Investment Management reduced its stake in SYY by selling 605 shares or 7.22% in the most recent quarter. The Hedge Fund company now holds 7,780 shares of SYY which is valued at $371,651. SYSCO Corporation makes up approx 0.07% of Acropolis Investment Management’s portfolio.Lynch Associatesin boosted its stake in SYY in the latest quarter, The investment management firm added 501 additional shares and now holds a total of 52,968 shares of SYSCO Corporation which is valued at $2,530,281. SYSCO Corporation makes up approx 1.12% of Lynch Associatesin’s portfolio.Bath Savings Trust Co reduced its stake in SYY by selling 406 shares or 0.91% in the most recent quarter. The Hedge Fund company now holds 44,196 shares of SYY which is valued at $2,111,243. SYSCO Corporation makes up approx 0.67% of Bath Savings Trust Co’s portfolio.Lvm Capital Management Ltdmi boosted its stake in SYY in the latest quarter, The investment management firm added 18,591 additional shares and now holds a total of 31,350 shares of SYSCO Corporation which is valued at $1,497,590. SYSCO Corporation makes up approx 0.47% of Lvm Capital Management Ltdmi’s portfolio.Beacon Financial Group reduced its stake in SYY by selling 500 shares or 4.92% in the most recent quarter. The Hedge Fund company now holds 9,664 shares of SYY which is valued at $461,649. SYSCO Corporation makes up approx 0.10% of Beacon Financial Group’s portfolio.

SYSCO Corporation closed down -0.81 points or -1.66% at $48.11 with 39,15,055 shares getting traded on Tuesday. Post opening the session at $48.84, the shares hit an intraday low of $48.035 and an intraday high of $48.98 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.

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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