Sysco Corporation (SYY) stock had a bullish inflow of $9.07 million worth of trades on uptick and an outflow of $7.59 million in downticks on Wednesday. The total uptick to downtick ratio stood at 1.19. The net money flow into the stock was $1.48 million. The money flow data, which is calculated as the dollar value of composite uptick minus the downtick trades indicated bullish. The block trades had a total money flow of $0.85 million. An inflow of $0.52 million block trade was recorded on downticks. $1.37 million of block trade during Uptick was observed, which shows continued buying by the smart money on every weakness. The total uptick to downtick ratio of block trades was 2.64 in favor of the bulls. However, Sysco Corporation (SYY) stock traded down $0.24 , and reached $51.92, a drop of -0.45% over the previous day. On a weekly basis, the stock is -0.2%, over the previous weeks close.
Also, Bank of America initiates coverage on Sysco Corporation (NYSE:SYY) . The global brokerage major announces a current price target of $52 per share. Analysts at the Bank of America have a current rating of Neutral on the shares. The rating by the firm was issued on June 20, 2016.
Sysco Corporation (NYSE:SYY): The stock opened at $52.21 on Wednesday but the bulls could not build on the opening and the stock topped out at $52.28 for the day. The stock traded down to $51.81 during the day, due to lack of any buying support eventually closed down at $51.81 with a loss of -0.65% for the day. The stock had closed at $52.15 on the previous day. The total traded volume was 2,545,577 shares.
The stock has recorded a 20-day Moving Average of 1.85% and the 50-Day Moving Average is 4.41%. In a related news, According to the information disclosed by the Securities and Exchange Commission in a Form 4 filing, the officer (EVP and CFO) of Sysco Corp, Grade Joel T. had sold 16,368 shares worth of $851,300 in a transaction dated July 13, 2016. In this transaction, 16,368 shares were sold at $52.01 per share.
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.