South Texas Money Management Ltd buys $31,994,605 stake in SYSCO Corporation (SYY)

SYSCO Corporation (SYY) : South Texas Money Management Ltd scooped up 271,087 additional shares in SYSCO Corporation during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 1, 2016. The investment management firm now holds a total of 623,312 shares of SYSCO Corporation which is valued at $31,994,605.SYSCO Corporation makes up approximately 1.74% of South Texas Money Management Ltd’s portfolio.

Other Hedge Funds, Including , Evercore Wealth Management boosted its stake in SYY in the latest quarter, The investment management firm added 638 additional shares and now holds a total of 37,347 shares of SYSCO Corporation which is valued at $1,917,022. SYSCO Corporation makes up approx 0.08% of Evercore Wealth Management’s portfolio.Smith Salley Associates boosted its stake in SYY in the latest quarter, The investment management firm added 8,569 additional shares and now holds a total of 61,545 shares of SYSCO Corporation which is valued at $3,187,416. SYSCO Corporation makes up approx 0.72% of Smith Salley Associates’s portfolio. Quantitative Systematic Strategies sold out all of its stake in SYY during the most recent quarter. The investment firm sold 35,469 shares of SYY which is valued $1,836,940.Tiaa Cref Trust Co Fsbmo reduced its stake in SYY by selling 3,482 shares or 9.51% in the most recent quarter. The Hedge Fund company now holds 33,138 shares of SYY which is valued at $1,726,158. SYSCO Corporation makes up approx 0.02% of Tiaa Cref Trust Co Fsbmo’s portfolio.Farmers Trust Co reduced its stake in SYY by selling 120 shares or 2.5% in the most recent quarter. The Hedge Fund company now holds 4,678 shares of SYY which is valued at $243,677. SYSCO Corporation makes up approx 0.08% of Farmers Trust Co’s portfolio.

SYSCO Corporation opened for trading at $51.24 and hit $51.75 on the upside on Thursday, eventually ending the session at $51.5, with a gain of 0.33% or 0.17 points. The heightened volatility saw the trading volume jump to 33,67,854 shares. Company has a market cap of $29,021 M.

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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