Notable Mover: Sysco Corp (NYSE:SYY) 2016 Q2 Sentiment Report

November 24, 2016 - By Louis Casey   ·   0 Comments

Notable Mover: Sysco Corp (NYSE:SYY)  2016 Q2 Sentiment Report

Sentiment for Sysco Corp (NYSE:SYY)

Sysco Corp (NYSE:SYY) institutional sentiment decreased to 0.89 in 2016 Q2. Its down -0.07, from 0.96 in 2016Q1. The ratio turned negative, as 370 active investment managers increased or started new equity positions, while 386 reduced and sold their stock positions in Sysco Corp. The active investment managers in our partner’s database now own: 417.36 million shares, down from 444.80 million shares in 2016Q1. Also, the number of active investment managers holding Sysco Corp in their top 10 equity positions increased from 25 to 26 for an increase of 1. Sold All: 39 Reduced: 347 Increased: 284 New Position: 86.

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 $29.50 billion. The Company’s divisions include Broadline, SYGMA and Other. It has a 29.51 P/E ratio. The Broadline segment includes its Broadline activities located in the Bahamas, Canada, Costa Rica, Ireland, Mexico and the United States.

The stock decreased 1.00% or $0.54 on November 23, hitting $53.56. About 2.39M shares traded hands. SYSCO Corporation (NYSE:SYY) has risen 17.02% since April 22, 2016 and is uptrending. It has outperformed by 11.61% the S&P500.

Analysts await SYSCO Corporation (NYSE:SYY) to report earnings on February, 6. They expect $0.53 earnings per share, up 10.42% or $0.05 from last year’s $0.48 per share. SYY’s profit will be $291.92M for 25.26 P/E if the $0.53 EPS becomes a reality. After $0.67 actual earnings per share reported by SYSCO Corporation for the previous quarter, Wall Street now forecasts -20.90% negative EPS growth.

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.”

Trian Fund Management L.P. holds 21.25% of its portfolio in SYSCO Corporation for 43.97 million shares. Shayne & Co. Llc owns 384,637 shares or 16.15% of their US portfolio. Moreover, Yacktman Asset Management Lp has 6.23% invested in the company for 14.83 million shares. The Tennessee-based Delta Asset Management Llc Tn has invested 4.09% in the stock. Wilkins Investment Counsel Inc, a Massachusetts-based fund reported 202,375 shares.#img1#

Insider Transactions: Since January 1, 0001, the stock had 1 buying transaction, and 19 selling transactions for $32.51 million net activity.

SYSCO Corporation (NYSE:SYY) Ratings Coverage

Ratings analysis reveals 31% of Sysco Corporation’s analysts are positive. Out of 13 Wall Street analysts rating Sysco Corporation, 4 give it “Buy”, 2 “Sell” rating, while 7 recommend “Hold”. The lowest target is $29 while the high is $57. The stock’s average target of $50.56 is -5.60% below today’s ($53.56) share price. SYY was included in 23 notes of analysts from August 6, 2015. The stock of SYSCO Corporation (NYSE:SYY) has “Sell” rating given on Thursday, August 6 by Pivotal Research. Credit Suisse downgraded the stock to “Neutral” rating in Wednesday, November 16 report. Credit Suisse maintained it with “Outperform” rating and $50 target price in Friday, February 19 report. On Tuesday, February 2 the stock rating was downgraded by Morgan Stanley to “Underweight”. The stock of SYSCO Corporation (NYSE:SYY) earned “Sell” rating by Goldman Sachs on Tuesday, December 15. As per Friday, March 11, the company rating was upgraded by Clevland Research. The stock of SYSCO Corporation (NYSE:SYY) earned “Underweight” rating by Barclays Capital on Friday, September 23. The stock of SYSCO Corporation (NYSE:SYY) has “Neutral” rating given on Monday, June 20 by Bank of America. The stock of SYSCO Corporation (NYSE:SYY) earned “Buy” rating by Argus Research on Friday, February 5. The stock of SYSCO Corporation (NYSE:SYY) earned “Outperform” rating by Wells Fargo on Thursday, November 19.

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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By Louis Casey

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