Parkwood buys $5,187,122 stake in SYSCO Corporation (SYY)

SYSCO Corporation (SYY) : Parkwood scooped up 2,977 additional shares in SYSCO Corporation during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Jul 22, 2016. The investment management firm now holds a total of 99,580 shares of SYSCO Corporation which is valued at $5,187,122.SYSCO Corporation makes up approximately 0.85% of Parkwood’s portfolio.

Other Hedge Funds, Including , Northwest Investment Counselors boosted its stake in SYY in the latest quarter, The investment management firm added 1,007 additional shares and now holds a total of 44,020 shares of SYSCO Corporation which is valued at $2,293,002. SYSCO Corporation makes up approx 1.21% of Northwest Investment Counselors’s portfolio.Ibm Retirement Fund reduced its stake in SYY by selling 7,850 shares or 10.21% in the most recent quarter. The Hedge Fund company now holds 69,033 shares of SYY which is valued at $3,595,929. SYSCO Corporation makes up approx 0.13% of Ibm Retirement Fund’s portfolio.Catawba Capital Management Va reduced its stake in SYY by selling 14,455 shares or 17.84% in the most recent quarter. The Hedge Fund company now holds 66,562 shares of SYY which is valued at $3,448,577. SYSCO Corporation makes up approx 0.82% of Catawba Capital Management Va’s portfolio. Gradient Investments sold out all of its stake in SYY during the most recent quarter. The investment firm sold 33 shares of SYY which is valued $1,715.

SYSCO Corporation closed down -0.04 points or -0.08% at $51.79 with 35,21,386 shares getting traded on Friday. Post opening the session at $51.65, the shares hit an intraday low of $51.48 and an intraday high of $51.98 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 $0.46 EPS for the quarter, beating the analyst consensus estimate by $ 0.04 according to the earnings call on May 2, 2016. Analyst had a consensus of $0.42. The company had revenue of $12002.00 million for the quarter, compared to analysts expectations of $11866.48 million. The company’s revenue was up 2.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.30 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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