Parnassus Investments Ca Lowers stake in SYSCO Corporation (SYY)

SYSCO Corporation (SYY) : Parnassus Investments Ca reduced its stake in SYSCO Corporation by 0.04% during the most recent quarter end. The investment management company now holds a total of 8,869,330 shares of SYSCO Corporation which is valued at $454,198,389 after selling 3,485 shares in SYSCO Corporation , the firm said in a disclosure report filed with the SEC on Aug 9, 2016.SYSCO Corporation makes up approximately 2.67% of Parnassus Investments Ca’s portfolio.

Other Hedge Funds, Including , Bradley Foster Sargent Incct reduced its stake in SYY by selling 4,330 shares or 16.7% in the most recent quarter. The Hedge Fund company now holds 21,597 shares of SYY which is valued at $1,105,982. SYSCO Corporation makes up approx 0.05% of Bradley Foster Sargent Incct’s portfolio.Eliot Finkel Investment Counsel reduced its stake in SYY by selling 5,600 shares or 4.33% in the most recent quarter. The Hedge Fund company now holds 123,600 shares of SYY which is valued at $6,401,244. SYSCO Corporation makes up approx 5.47% of Eliot Finkel Investment Counsel’s portfolio.Boston Advisors boosted its stake in SYY in the latest quarter, The investment management firm added 130,023 additional shares and now holds a total of 455,648 shares of SYSCO Corporation which is valued at $23,502,324. SYSCO Corporation makes up approx 0.57% of Boston Advisors’s portfolio.Firstmerit Bank N A Trustee reduced its stake in SYY by selling 200 shares or 2.82% in the most recent quarter. The Hedge Fund company now holds 6,891 shares of SYY which is valued at $358,539. SYSCO Corporation makes up approx 0.03% of Firstmerit Bank N A Trustee’s portfolio.

SYSCO Corporation opened for trading at $51.99 and hit $52.24 on the upside on Wednesday, eventually ending the session at $52.24, with a gain of 0.29% or 0.15 points. The heightened volatility saw the trading volume jump to 40,94,737 shares. Company has a market cap of $29,438 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.

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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