Stock Mover of the Day: Is Buying SYSCO Corporation Here a Winning Strategy?

Stock Mover of the Day: Is Buying SYSCO Corporation Here a Winning Strategy?

The stock of SYSCO Corporation (NYSE:SYY) reached all time high today, Nov, 8 and still has $75.04 target or 38.00% above today’s $54.38 share price. This indicates more upside for the $32.92 billion company. This technical setup was reported by Barchart.com. If the $75.04 PT is reached, the company will be worth $12.51 billion more.
Trading stocks at an all time highs is usually a winning strategy. An all time high points to a stock which has the most positive fundamentals ever. Even thought the pullback rate is high, if correct risk management is utilized, investors can trade very well such events. About 2.04M 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 company was initiated on Tuesday, December 15 by Goldman Sachs. The firm earned “Neutral” rating on Friday, March 11 by Clevland Research. The stock has “Hold” rating given by Deutsche Bank on Wednesday, August 26. Morgan Stanley downgraded the stock to “Underweight” rating in Tuesday, February 2 report. The stock has “Sell” rating given by Goldman Sachs on Tuesday, May 3. The rating was maintained by Pivotal Research with “Hold” on Tuesday, November 8. The stock has “Hold” rating given by Deutsche Bank on Monday, July 18. The rating was upgraded by Argus Research to “Buy” on Friday, February 5. Credit Suisse maintained the stock with “Outperform” rating in Friday, February 19 report. The firm earned “Outperform” rating on Thursday, November 19 by Wells Fargo.

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 Q2 2016. Its up 0.03, from 0.93 in 2016Q1. The ratio improved, 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.
Hl Fincl Ser Ltd Liability Company accumulated 255,164 shares or 0.31% of the stock. Diamond Hill Capital, a Ohio-based fund reported 5.60 million shares. Moreover, Fidelity National Fin has 2.38% invested in SYSCO Corporation (NYSE:SYY) for 181,045 shares. Qci Asset Management Ny holds 0.01% or 1,485 shares in its portfolio. The New York-based Joel Isaacson & Co has invested 0.01% in SYSCO Corporation (NYSE:SYY). Planning has 0.1% invested in the company for 25,378 shares. Independent Consultants Inc has 1,210 shares for 0.02% of their US portfolio. The Illinois-based Citadel Ltd Co has invested 0.05% in SYSCO Corporation (NYSE:SYY). Moore Capital Mgmt Limited Partnership holds 0.02% or 8,839 shares in its portfolio. Stockman Asset Management holds 2.21% of its portfolio in SYSCO Corporation (NYSE:SYY) for 55,578 shares. Macquarie Gru Ltd last reported 13,600 shares in the company. The Massachusetts-based Seaward Ltd Partnership has invested 0.13% in SYSCO Corporation (NYSE:SYY). Oakworth Capital Inc holds 0.07% or 3,854 shares in its portfolio. Blackrock Institutional Trust Na accumulated 13.79 million shares or 0.11% of the stock. Sumitomo Mitsui Tru holds 0.14% or 1.59M shares in its portfolio.

Insider Transactions: Since May 18, 2016, the stock had 1 insider purchase, and 14 insider sales for $27.03 million net activity. DeLaney William J III sold $1.05M worth of stock or 20,114 shares. 26,507 SYSCO Corporation (NYSE:SYY) shares with value of $1.30M were sold by Day William B.. Grade Joel T. had sold 14,777 shares worth $719,935 on Monday, June 13. The insider HAFNER JOSEPH A JR sold $340,130. $301,535 worth of SYSCO Corporation (NYSE:SYY) was bought by WARD JACKIE M on Friday, June 10. Libby Russell T. sold $1.88 million worth of SYSCO Corporation (NYSE:SYY) on Monday, June 6.

More news for SYSCO Corporation (NYSE:SYY) were recently published by: Investorplace.com, which released: “Why SYSCO Corporation (SYY) Stock Is Soaring Today” on November 07, 2016. Nytimes.com‘s article titled: “Herbert Irving, Sysco Co-Founder and $300 Million Hospital Donor, Dies at 98” and published on October 11, 2016 is yet another important article.

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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