Sysco Corporation (SYY): Price Target and June Short Interest Disclosure

Sysco Corporation (SYY) : Currently there are 5 street experts covering Sysco Corporation (SYY) stock. The most bullish and bearish price target for the stock is $55 and $44 respectively for the short term. The average price target of all the analysts comes to $49.2. The estimated standard deviation from the target is $4.66.

Sysco Corporation (SYY) has seen a shortfall of 873,267 shares or 5.7% in the short interest. The remaining shorts are 2.6% of the total floated shares. The net short interest, as on June 30,2016, stood at 14,389,670 shares and the stocks days to cover will be 3 by factoring in the average per day volume of 5,252,197 shares. On June 15,2016, 15,262,937 shares were shorted. The information was released by Financial Industry Regulatory Authority, Inc (FINRA) on June 12th.

Also, Bank of America initiates coverage on Sysco Corporation (NYSE:SYY). Bank of America has a Neutral rating on the shares. As per the latest report, the brokerage house announces the price target to $52 per share. The rating by the firm was issued on June 20, 2016.

Sysco

Sysco Corporation (NYSE:SYY): On Thursdays trading session , Opening price of the stock was $52.05 with an intraday high of $52.31. The bears continued to sell at higher levels and eventually sold the stock down to an intraday low of $51.88. However, the stock managed to close at $51.97, a loss of 0.12% for the day. On the previous day, the stock had closed at $52.03. The total traded volume of the day was 2,652,865 shares.

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 425,000 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 Companys other segments include its specialty produce, custom-cut meat and lodging industry products segments.

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