Live Stock Coverage: What’s Next for SYSCO Corporation After Achieving 52-Week High?

Live Stock Coverage: What's Next for SYSCO Corporation After Achieving 52 Week High?

The stock of SYSCO Corporation (NYSE:SYY) hit a new 52-week high and has $86.83 target or 60.00% above today’s $54.27 share price. The 7 months bullish chart indicates low risk for the $32.85B company. The 1-year high was reported on Nov, 8 by Barchart.com. If the $86.83 price target is reached, the company will be worth $19.71 billion more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 1.09M shares traded hands. SYSCO Corporation (NYSE:SYY) has risen 2.87% since April 5, 2016 and is uptrending. It has outperformed by 0.91% the S&P500.

SYSCO Corporation (NYSE:SYY) Ratings Coverage

Out of 13 analysts covering Sysco Corporation (NYSE:SYY), 4 rate it a “Buy”, 3 “Sell”, while 6 “Hold”. This means 31% are positive. Sysco Corporation has been the topic of 20 analyst reports since August 6, 2015 according to StockzIntelligence Inc. The firm has “Outperform” rating by Macquarie Research given on Tuesday, May 3. As per Tuesday, August 16, the company rating was maintained by JP Morgan. Argus Research upgraded it to “Buy” rating and $50 target price in Friday, February 5 report. The company was initiated on Monday, June 20 by Bank of America. The firm earned “Sell” rating on Tuesday, May 3 by Goldman Sachs. The stock of SYSCO Corporation (NYSE:SYY) has “Underweight” rating given on Tuesday, February 2 by Morgan Stanley. The stock of SYSCO Corporation (NYSE:SYY) earned “Underweight” rating by Barclays Capital on Friday, September 23. On Tuesday, December 15 the stock rating was initiated by Goldman Sachs with “Sell”. Deutsche Bank maintained the shares of SYY in a report on Wednesday, August 26 with “Hold” rating. Wells Fargo initiated the stock with “Outperform” rating in Thursday, November 19 report.

According to Zacks Investment Research, “Sysco Corporation is the largest North American distributor of food and food related products to the foodservice or food-prepared-away-from-home industry. The company provides its products and services to restaurants, healthcare and educational facilities, lodging establishments and other foodservice customers.”

Insitutional Activity: The institutional sentiment increased to 0.96 in 2016 Q2. Its up 0.03, from 0.93 in 2016Q1. The ratio increased, as 39 funds sold all SYSCO Corporation shares owned while 347 reduced positions. 86 funds bought stakes while 284 increased positions. They now own 417.36 million shares or 6.17% less from 444.80 million shares in 2016Q1.
Stevens First Principles Advisors holds 85,926 shares or 3.25% of its portfolio. Hillsdale Mngmt accumulated 6,900 shares or 0.1% of the stock. Commonwealth Comml Bank Of holds 0.04% of its portfolio in SYSCO Corporation (NYSE:SYY) for 71,471 shares. Gam Ag holds 143,397 shares or 0.11% of its portfolio. Catawba Capital Management Va has 0.82% invested in the company for 66,562 shares. Douglass Winthrop Advsrs Ltd Llc holds 69,989 shares or 0.21% of its portfolio. Somerset Tru accumulated 26,444 shares or 0.83% of the stock. Moreover, Commonwealth Equity Svcs has 0.09% invested in SYSCO Corporation (NYSE:SYY) for 207,522 shares. First Citizens Comml Bank accumulated 0.89% or 196,214 shares. Moreover, Acadia Na has 2.72% invested in SYSCO Corporation (NYSE:SYY) for 174,665 shares. North Star Asset Incorporated accumulated 0.08% or 15,166 shares. Susquehanna Int Llp, a Pennsylvania-based fund reported 85,000 shares. Diversified Inv Strategies Ltd Llc owns 48,950 shares or 2.5% of their US portfolio. Virginia Retirement Et Al last reported 540,500 shares in the company. The Maryland-based Burt Wealth Advsrs has invested 0.09% in SYSCO Corporation (NYSE:SYY).

Insider Transactions: Since May 18, 2016, the stock had 1 insider purchase, and 14 selling transactions for $27.03 million net activity. The insider Grade Joel T. sold 14,777 shares worth $719,935. $1.30M worth of SYSCO Corporation (NYSE:SYY) was sold by Day William B. on Monday, October 3. Another trade for 20,114 shares valued at $1.05M was sold by DeLaney William J III. WARD JACKIE M also bought $301,535 worth of SYSCO Corporation (NYSE:SYY) shares. $340,130 worth of SYSCO Corporation (NYSE:SYY) shares were sold by HAFNER JOSEPH A JR. $1.88 million worth of SYSCO Corporation (NYSE:SYY) was sold by Libby Russell T..

More recent SYSCO Corporation (NYSE:SYY) news were published by: Investorplace.com which released: “Why SYSCO Corporation (SYY) Stock Is Soaring Today” on November 07, 2016. Also Nytimes.com published the news titled: “Herbert Irving, Sysco Co-Founder and $300 Million Hospital Donor, Dies at 98” on October 11, 2016. Equitiesfocus.com‘s news article titled: “Sysco Corporation (NYSE:SYY) Fixes Dividend Payout At $0.31” with publication date: November 07, 2016 was also an interesting one.

SYY Company Profile

Sysco Corporation (Sysco), incorporated on May 8, 1969, is a distributor of food and related products primarily to the foodservice or food-away-from-home industry. The Company’s divisions include Broadline, SYGMA and Other. The Company’s Broadline segment is an aggregation of its Broadline activities located in the Bahamas, Canada, Costa Rica, Ireland, Mexico and the United States. Broadline operating companies distribute a full line of food products and a range of non-food products to both traditional and chain restaurant customers, hospitals, schools, hotels, industrial caterers and other venues where foodservice products are served. SYGMA operating companies distribute a full line of food products and a range of non-food products to certain chain restaurant customer locations. The Other segment includes the Company’s specialty produce; custom-cut meat operations; lodging industry divisions; a firm that distributes specialty imported products; a firm that distributes to international customers, and Sysco Ventures platform, which includes a suite of technology solutions that help in supporting the business needs of Sysco’s customers. The Firm operates through its subsidiaries and divisions.

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