Sysco Corporation (SYY) : Traders are bullish on Sysco Corporation (SYY) as it has outperformed the S&P 500 by a wide margin of 0.36% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 0.55%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 0.52% in the last 1 week, and is up 0.75% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
Sysco Corporation is up 8.78% in the last 3-month period. Year-to-Date the stock performance stands at 30.67%. The stock has recorded a 20-day Moving Average of 1.2% and the 50-Day Moving Average is 2.97%.
Sysco Corporation (NYSE:SYY): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $52.23 and $52.20 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $52.53. The buying momentum continued till the end and the stock did not give up its gains. It closed at $52.48, notching a gain of 0.04% for the day. The total traded volume was 3,218,608 . The stock had closed at $52.46 on the previous day.
Also, Equity Analysts at the Brokerage Firm, Argus Research, maintains their rating on the shares of Sysco Corporation (NYSE:SYY). Argus Research has a Buy rating on the shares. As per the latest research report, the brokerage house raises the price target to $60 per share from a prior target of $56. The rating by the firm was issued on August 19, 2016.
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.