Fort Washington Investment Advisors Inc Oh Lowers stake in SYSCO Corporation (SYY)

SYSCO Corporation (SYY) : Fort Washington Investment Advisors Inc Oh reduced its stake in SYSCO Corporation by 4.98% during the most recent quarter end. The investment management company now holds a total of 2,403,601 shares of SYSCO Corporation which is valued at $128,568,617 after selling 125,901 shares in SYSCO Corporation , the firm said in a disclosure report filed with the SEC on Nov 14, 2016.SYSCO Corporation makes up approximately 2.35% of Fort Washington Investment Advisors Inc Oh’s portfolio.

Other Hedge Funds, Including , Lebenthal Asset Management reduced its stake in SYY by selling 4,934 shares or 6.87% in the most recent quarter. The Hedge Fund company now holds 66,935 shares of SYY which is valued at $3,580,353. SYSCO Corporation makes up approx 0.46% of Lebenthal Asset Management’s portfolio.Beacon Trust Co reduced its stake in SYY by selling 905 shares or 6.89% in the most recent quarter. The Hedge Fund company now holds 12,229 shares of SYY which is valued at $650,827. SYSCO Corporation makes up approx 0.11% of Beacon Trust Co’s portfolio.Norinchukin Bank The reduced its stake in SYY by selling 39,806 shares or 38.26% in the most recent quarter. The Hedge Fund company now holds 64,244 shares of SYY which is valued at $3,389,513. SYSCO Corporation makes up approx 0.08% of Norinchukin Bank The’s portfolio.Winfield Associates boosted its stake in SYY in the latest quarter, The investment management firm added 100 additional shares and now holds a total of 7,800 shares of SYSCO Corporation which is valued at $375,024. SYSCO Corporation makes up approx 0.24% of Winfield Associates’s portfolio.Clarkston Capital Partners reduced its stake in SYY by selling 15,960 shares or 1.9% in the most recent quarter. The Hedge Fund company now holds 822,616 shares of SYY which is valued at $39,584,282. SYSCO Corporation makes up approx 1.96% of Clarkston Capital Partners’s portfolio.

SYSCO Corporation closed down -0.22 points or -0.41% at $53.14 with 40,43,887 shares getting traded on Monday. Post opening the session at $53.23, the shares hit an intraday low of $53.02 and an intraday high of $53.66 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

On the company’s financial health, SYSCO Corporation reported $0.67 EPS for the quarter, beating the analyst consensus estimate by $ 0.09 according to the earnings call on Nov 7, 2016. Analyst had a consensus of $0.58. The company had revenue of $13968.70 million for the quarter, compared to analysts expectations of $13891.61 million. The company’s revenue was up 11.2% 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 Nov 16, 2016, SYSCO Corporation announced a cash dividend of $0.3300. The company’s management has announced Jan 4, 2017 as the ex-dividend date and fixed the record date on Jan 6, 2017. The payable date has been fixed on Jan 27, 2017.

Many Wall Street Analysts have commented on SYSCO Corporation. SYSCO Corporation was Downgraded by Credit Suisse to ” Neutral” on Nov 16, 2016. SYSCO Corporation was Upgraded by BofA/Merrill to ” Buy” on Nov 8, 2016. Company shares were Reiterated by Pivotal Research Group on Nov 8, 2016 to “Hold”, Firm has raised the Price Target to $ 53 from a previous price target of $45 .

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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