Could SYSCO Corporation Change Direction After Today’s Bullish Options Activity?

 Could SYSCO Corporation Change Direction After Today's Bullish Options Activity?

In today’s session SYSCO Corporation (SYY) registered an unusually high (627) contracts volume of call trades. Someone, most probably a professional was a very active buyer of the January, 2017 call, expecting serious SYY increase. With 627 contracts traded and 30204 open interest for the Jan, 17 contract, it seems this is a quite bullish bet. The option with symbol: SYY170120C00055000 closed last at: $0.75 or 6.3% down. About 386,194 shares traded hands. SYSCO Corporation (NYSE:SYY) has risen 14.93% since April 20, 2016 and is uptrending. It has outperformed by 10.37% the S&P500.

SYSCO Corporation (NYSE:SYY) Ratings Coverage

Out of 13 analysts covering Sysco Corporation (NYSE:SYY), 4 rate it a “Buy”, 2 “Sell”, while 7 “Hold”. This means 31% are positive. Sysco Corporation has been the topic of 23 analyst reports since August 6, 2015 according to StockzIntelligence Inc. Bank of America upgraded SYSCO Corporation (NYSE:SYY) on Tuesday, November 8 to “Buy” rating. The stock of SYSCO Corporation (NYSE:SYY) earned “Underweight” rating by Morgan Stanley on Tuesday, February 2. As per Friday, September 23, the company rating was initiated by Barclays Capital. Deutsche Bank initiated the shares of SYY in a report on Monday, July 18 with “Hold” rating. The firm earned “Sell” rating on Tuesday, December 15 by Goldman Sachs. The firm earned “Hold” rating on Wednesday, August 26 by Deutsche Bank. The stock has “Neutral” rating given by JP Morgan on Tuesday, August 16. The company was maintained on Tuesday, May 3 by Goldman Sachs. The company was upgraded on Friday, March 11 by Clevland Research. The stock has “Neutral” rating given by Credit Suisse on Wednesday, November 16.

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 decreased to 0.89 in Q2 2016. Its down 0.07, from 0.96 in 2016Q1. The ratio fall, 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.
Cypress Cap Gp, a Florida-based fund reported 6,442 shares. Voloridge Mgmt Ltd Liability Company holds 0.03% or 19,458 shares in its portfolio. Tnb Finance holds 33,698 shares or 0.45% of its portfolio. Chesley Taft & Associates Limited Liability Company reported 18,303 shares or 0.1% of all its holdings. Moreover, Lombard Odier Asset Mgmt (Europe) has 0.02% invested in SYSCO Corporation (NYSE:SYY) for 8,343 shares. Comerica Bancshares has invested 0.1% of its portfolio in SYSCO Corporation (NYSE:SYY). Bartlett & Limited Liability Company owns 131,561 shares or 0.33% of their US portfolio. Acropolis Inv Mngmt Ltd Liability Corporation has 8,385 shares for 0.08% of their US portfolio. The Florida-based Butensky & Cohen Security has invested 1.99% in SYSCO Corporation (NYSE:SYY). Moore Cap Management Ltd Partnership last reported 0.02% of its portfolio in the stock. The Pennsylvania-based Blb&B Advisors Ltd has invested 0.69% in SYSCO Corporation (NYSE:SYY). Mackenzie Financial Corp owns 121,892 shares or 0.03% of their US portfolio. Panagora Asset Mngmt has 0.26% invested in the company for 1.03M shares. Park Natl Corp Oh accumulated 122,386 shares or 0.4% of the stock. Gw Henssler & Associate Ltd has 0.03% invested in the company for 4,516 shares.

Insider Transactions: Since June 6, 2016, the stock had 1 insider buy, and 19 insider sales for $32.51 million net activity. Grade Joel T. sold $719,935 worth of stock. $2.05M worth of SYSCO Corporation (NYSE:SYY) was sold by Libby Russell T. on Monday, November 7. The insider Day William B. sold 75,000 shares worth $3.86 million. On Friday, June 10 the insider WARD JACKIE M bought $301,535. Another trade for 74,271 shares valued at $3.82M was sold by Moskowitz Paul T. DeLaney William J III sold 20,114 shares worth $985,988. Another trade for 16,500 shares valued at $838,035 was made by Bertrand Greg D on Monday, November 7.

Sysco Corporation is a distributor of food and related products primarily to the foodservice or food-away-from-home industry. The company has a market cap of $29.43 billion. The Company’s divisions include Broadline, SYGMA and Other. It has a 29.77 P/E ratio. The Broadline segment includes its Broadline activities located in the Bahamas, Canada, Costa Rica, Ireland, Mexico and the United States.

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.

Another recent and important SYSCO Corporation (NYSE:SYY) news was published by Seekingalpha.com which published an article titled: “Dividend Aristocrats In Focus Part 40: Sysco” on November 15, 2016.

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