Barclays Initiates Coverage on SYSCO Corporation to Underweight

Barclays Initiates Coverage on SYSCO Corporation(NYSE:SYY). The shares have been rated Underweight. The rating by Barclays was issued on Sep 23, 2016.

In a different note, On Aug 19, 2016, Argus Research said it Maintains its rating on SYSCO Corporation. In the research note, the firm Raises the price-target to $56.00 per share. The shares have been rated ‘Buy’ by the firm. On Aug 16, 2016, JP Morgan said it Maintains its rating on SYSCO Corporation. In the research note, the firm Raises the price-target to $55.00 per share. The shares have been rated ‘Neutral’ by the firm. Deutsche Bank said it Initiates Coverage on SYSCO Corporation, according to a research note issued on Jul 18, 2016. The shares have been rated ‘Hold’ by the firm.

SYSCO Corporation (SYY) made into the market gainers list on Tuesdays trading session with the shares advancing 0.74% or 0.36 points. Due to strong positive momentum, the stock ended at $49.24, which is also near the day’s high of $49.43. The stock began the session at $49.07 and the volume stood at 33,60,392 shares. The 52-week high of the shares is $53.97 and the 52 week low is $38.34. The company has a current market capitalization of $27,335 M and it has 55,51,33,160 shares in outstanding.

SYSCO Corporation has also declared a cash dividend of $0.3100 on Aug 26, 2016. The shares will quote ex-dividend on Oct 5, 2016 and the record date has been fixed on Oct 7, 2016. The dividend payable date has been fixed on Oct 28, 2016.

SYSCO Corporation(SYY) last announced its earnings results on Aug 15, 2016 for Fiscal Year 2016 and Q4.Company reported revenue of $13.65B. Analysts had an estimated revenue of $13.67B. Earnings per share were $0.64. Analysts had estimated an EPS of $0.61.

Several Insider Transactions has been reported to the SEC. On Sep 16, 2016, William J Iii Delaney (Chief Executive Officer) sold 20,114 shares at $49.51 per share price.Also, On Aug 15, 2016, William B. Day (Executive Vice President) sold 20,000 shares at $51.89 per share price.On Jul 15, 2016, Joel T. Grade (EVP and CFO) sold 16,368 shares at $52.01 per share price, according to the Form-4 filing with the securities and exchange commission.

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 425000 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 Company’s other segments include its specialty produce custom-cut meat and lodging industry products segments.

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