First Mercantile Trust Co Lowers stake in SYSCO Corporation (SYY)

SYSCO Corporation (SYY) : First Mercantile Trust Co reduced its stake in SYSCO Corporation by 11.89% during the most recent quarter end. The investment management company now holds a total of 18,150 shares of SYSCO Corporation which is valued at $872,471 after selling 2,450 shares in SYSCO Corporation , the firm said in a disclosure report filed with the SEC on Oct 7, 2016.SYSCO Corporation makes up approximately 0.12% of First Mercantile Trust Co’s portfolio.

Other Hedge Funds, Including , Advisory Services Network boosted its stake in SYY in the latest quarter, The investment management firm added 564 additional shares and now holds a total of 20,484 shares of SYSCO Corporation which is valued at $984,666. SYSCO Corporation makes up approx 0.19% of Advisory Services Network’s portfolio.Curbstone Financial Management Corp boosted its stake in SYY in the latest quarter, The investment management firm added 1,750 additional shares and now holds a total of 34,610 shares of SYSCO Corporation which is valued at $1,653,320. SYSCO Corporation makes up approx 0.53% of Curbstone Financial Management Corp’s portfolio. Eqis Capital Management added SYY to its portfolio by purchasing 5,866 company shares during the most recent quarter which is valued at $280,219. SYSCO Corporation makes up approx 0.02% of Eqis Capital Management’s portfolio.Washington Trust Bank reduced its stake in SYY by selling 5 shares or 5.81% in the most recent quarter. The Hedge Fund company now holds 81 shares of SYY which is valued at $3,869.

SYSCO Corporation closed down -0.21 points or -0.43% at $48.07 with 28,58,730 shares getting traded on Friday. Post opening the session at $48.34, the shares hit an intraday low of $47.87 and an intraday high of $48.39 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 $0.64 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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