Could Sysco Corporation (SYY) Go Down After Reaching All-Time High?

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Investors sentiment increased to 1.02 in Q2 2019. Its up 0.05, from 0.97 in 2019Q1. It is positive, as 46 investors sold Sysco Corporation shares while 313 reduced holdings. 79 funds opened positions while 287 raised stakes. 388.82 million shares or 0.08% more from 388.50 million shares in 2019Q1 were reported.
Bartlett & Communication Limited Company holds 71,562 shares. Homrich & Berg owns 12,440 shares. Central Comml Bank Tru reported 68,173 shares stake. First Midwest Bancorporation Tru Division holds 0.28% in Sysco Corporation (NYSE:SYY) or 27,414 shares. Gotham Asset Ltd Liability Com invested 0.47% in Sysco Corporation (NYSE:SYY). Boston Research & Mngmt holds 0.23% or 8,190 shares in its portfolio. Guardian Life Of America has invested 0.01% in Sysco Corporation (NYSE:SYY). Tarbox Family Office holds 347 shares. Regentatlantic Capital Ltd Llc invested 0.02% in Sysco Corporation (NYSE:SYY). Carret Asset Mgmt Ltd Co invested in 0.26% or 22,705 shares. Enterprise Financial Serv stated it has 0.01% of its portfolio in Sysco Corporation (NYSE:SYY). Old Point Tru And Financial Services N A has 74,903 shares for 2.7% of their portfolio. Stone Ridge Asset Mngmt Ltd Limited Liability Company holds 44,611 shares or 0.19% of its portfolio. 9,861 were accumulated by Kentucky Retirement Insurance Trust Fund. Aurora Investment Counsel has invested 0.79% in Sysco Corporation (NYSE:SYY).

The stock of Sysco Corporation (NYSE:SYY) reached all time high today, Sep, 13 and still has $82.19 target or 5.00 % above today’s $78.28 share price. This indicates more upside for the $40.17B company. This technical setup was reported by Barchart.com. If the $82.19 PT is reached, the company will be worth $2.01B more.
Trading stocks at an all time highs is usually a winning strategy. An all time high points to a stock which has the most positive fundamentals ever. Even thought the pullback rate is high, if correct risk management is utilized, investors can trade very well such events.

The stock increased 0.72% or $0.56 during the last trading session, reaching $78.28. About 1.82 million shares traded. Sysco Corporation (NYSE:SYY) has risen 2.85% since September 13, 2018 and is uptrending. It has outperformed by 2.85% the S&P500.

Analysts await Sysco Corporation (NYSE:SYY) to report earnings on November, 4. They expect $0.97 EPS, up 6.59 % or $0.06 from last year’s $0.91 per share. SYY’s profit will be $497.78 million for 20.18 P/E if the $0.97 EPS becomes a reality. After $1.10 actual EPS reported by Sysco Corporation for the previous quarter, Wall Street now forecasts -11.82 % negative EPS growth.

Sysco Corporation (NYSE:SYY) Ratings Coverage

Among 5 analysts covering Sysco (NYSE:SYY), 3 have Buy rating, 0 Sell and 2 Hold. Therefore 60% are positive. Sysco has $8400 highest and $7100 lowest target. $77.20’s average target is -1.38% below currents $78.28 stock price. Sysco had 12 analyst reports since March 15, 2019 according to SRatingsIntel. The rating was maintained by Buckingham Research on Tuesday, May 7 with “Buy”. JP Morgan maintained the stock with “Overweight” rating in Tuesday, August 13 report. The firm has “Outperform” rating by Credit Suisse given on Tuesday, August 13. Barclays Capital maintained Sysco Corporation (NYSE:SYY) on Tuesday, August 13 with “Equal-Weight” rating. As per Tuesday, May 7, the company rating was maintained by Morgan Stanley. The stock of Sysco Corporation (NYSE:SYY) has “Overweight” rating given on Tuesday, June 4 by JP Morgan.

More notable recent Sysco Corporation (NYSE:SYY) news were published by: Globenewswire.com which released: “Sysco to Present and Webcast From the 2019 Wells Fargo Securities Consumer Conference and Beauty Forum – GlobeNewswire” on September 12, 2019, also Globenewswire.com with their article: “Sysco Provides Aid for Hurricane Dorian Relief Efforts – GlobeNewswire” published on September 05, 2019, Seekingalpha.com published: “Trian Fund bought an activist stake in Legg Mason in 2Q19, reduced stake in PPG Industries – Seeking Alpha” on August 21, 2019. More interesting news about Sysco Corporation (NYSE:SYY) were released by: Finance.Yahoo.com and their article: “What Should We Expect From Sysco Corporation’s (NYSE:SYY) Earnings In The Next Couple Of Years? – Yahoo Finance” published on August 26, 2019 as well as Finance.Yahoo.com‘s news article titled: “Why Sysco Corporation (NYSE:SYY) Could Be Your Next Investment – Yahoo Finance” with publication date: July 24, 2019.

Sysco Corporation, through its subsidiaries, markets and distributes a range of food and related products primarily to the foodservice or food-away-from-home industry in the United States, Canada, Bahamas, Mexico, Costa Rica, Panama, the United Kingdom, France, Sweden, Ireland, Belgium, Spain, and Luxembourg. The company has market cap of $40.17 billion. It operates through three divisions: U.S. It has a 24.46 P/E ratio. Foodservice Operations, International Foodservice Operations, and SYGMA.

Sysco Corporation (NYSE:SYY) Institutional Positions Chart

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