Revenue Update on SYSCO Corporation(NYSE:SYY)

SYSCO Corporation(NYSE:SYY) announced the earnings results for Fiscal Year 2017 and Q2. The results came in during Pre-Market on Feb 6, 2017. Company reported revenue of $13.457B. Analysts estimated a revenue of $13.540B. The revenues were -0.61% below the estimates. Earnings per share were $0.58. The reported EPS was above estimates by 7.41%. Analysts had estimated an EPS of $0.54.

In a different note, RBC Capital said it Initiates Coverage On SYSCO Corporation, according to a research note issued on Jan 24, 2017. In the research note, the firm Announces the price-target to $47 per share. The shares have been rated ‘Sector Perform’ by the firm.

SYSCO Corporation (SYY) made into the market gainers list on Tuesdays trading session with the shares advancing 2.01% or 1.03 points. Due to strong positive momentum, the stock ended at $52.23, which is also near the day’s high of $53.02. The stock began the session at $52.2 and the volume stood at 74,21,343 shares. The 52-week high of the shares is $57.07 and the 52 week low is $42.05. The company has a current market capitalization of $28,224 M and it has 54,03,82,550 shares in outstanding.

Several Insider Transactions has been reported to the SEC. On Jan 19, 2017, William J Iii Delaney (Chief Executive Officer) sold 30,000 shares at $54.96 per share price.Also, On Jan 19, 2017, Russell T. Libby (Executive Vice President) sold 22,217 shares at $54.89 per share price.On Jan 10, 2017, Robert S Charlton (Executive Vice President) sold 33,480 shares at $55.67 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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