Bank Of Nova Scotia Boosted By $10.71 Million Its Fedex (FDX) Position; Sysco Has 0.9 Sentiment

March 16, 2018 - By Clifton Ray

Bank Of Nova Scotia increased Fedex Corp (FDX) stake by 85.78% reported in 2017Q3 SEC filing. Bank Of Nova Scotia acquired 47,606 shares as Fedex Corp (FDX)’s stock declined 2.24%. The Bank Of Nova Scotia holds 103,103 shares with $23.26M value, up from 55,497 last quarter. Fedex Corp now has $67.53B valuation. The stock increased 1.90% or $4.69 during the last trading session, reaching $252.09. About 1.56 million shares traded. FedEx Corporation (NYSE:FDX) has risen 19.02% since March 16, 2017 and is uptrending. It has outperformed by 2.32% the S&P500.

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 $31.37 billion. It operates through three divisions: U.S. It has a 26.99 P/E ratio. Foodservice Operations, International Foodservice Operations, and SYGMA.

Bank Of Nova Scotia decreased Essex Ppty Tr Inc (NYSE:ESS) stake by 10,881 shares to 11,470 valued at $2.91M in 2017Q3. It also reduced Akamai Technologies Inc (NASDAQ:AKAM) stake by 9,278 shares and now owns 25,541 shares. Alliance Data Systems Corp (NYSE:ADS) was reduced too.

Among 37 analysts covering FedEx (NYSE:FDX), 25 have Buy rating, 1 Sell and 11 Hold. Therefore 68% are positive. FedEx had 109 analyst reports since August 14, 2015 according to SRatingsIntel. The firm earned “Buy” rating on Wednesday, November 2 by Deutsche Bank. The firm has “Outperform” rating by Cowen & Co given on Thursday, March 23. The firm earned “Outperform” rating on Friday, March 24 by Raymond James. The stock of FedEx Corporation (NYSE:FDX) has “Hold” rating given on Tuesday, November 15 by Stifel Nicolaus. The firm earned “Buy” rating on Wednesday, September 21 by Stifel Nicolaus. The company was initiated on Tuesday, December 13 by JP Morgan. Barclays Capital upgraded the shares of FDX in report on Wednesday, May 4 to “Overweight” rating. The company was upgraded on Thursday, March 30 by Susquehanna. The stock has “Buy” rating by UBS on Thursday, March 17. Oppenheimer maintained the shares of FDX in report on Wednesday, June 21 with “Buy” rating.

Investors sentiment increased to 1.21 in Q3 2017. Its up 0.14, from 1.07 in 2017Q2. It increased, as 49 investors sold FDX shares while 378 reduced holdings. 122 funds opened positions while 336 raised stakes. 199.84 million shares or 0.13% less from 200.09 million shares in 2017Q2 were reported. 58,337 were accumulated by Tower Bridge Advisors. 64,885 were accumulated by Zacks Invest Mngmt. Engineers Gate Manager Limited Partnership invested in 0.13% or 6,837 shares. Services Automobile Association reported 171,396 shares or 0.11% of all its holdings. Factory Mutual Insurance Communications owns 1.03% invested in FedEx Corporation (NYSE:FDX) for 416,000 shares. 203,299 are owned by Trinity Street Asset Mgmt Ltd Liability Partnership. The Florida-based Raymond James Tru Na has invested 0.11% in FedEx Corporation (NYSE:FDX). Teacher Retirement System Of Texas has 77,547 shares. 1,983 are held by Signature Mngmt Inc. Sentry Investments Corp invested in 0.07% or 29,999 shares. Roffman Miller Associates Pa reported 102,614 shares. Sumitomo Life Insur reported 8,346 shares stake. Louisiana State Employees Retirement Systems invested in 0.16% or 15,400 shares. Martin And Com Tn has invested 1.4% in FedEx Corporation (NYSE:FDX). Horrell Capital Mgmt Inc accumulated 28,088 shares.

Since September 21, 2017, it had 1 buying transaction, and 6 insider sales for $22.29 million activity. The insider Colleran Donald F sold 10,000 shares worth $2.20 million. $802,405 worth of FedEx Corporation (NYSE:FDX) was sold by STEINER DAVID P on Friday, January 5. The insider BRONCZEK DAVID J sold $11.89 million. Another trade for 14,964 shares valued at $3.38 million was made by DUCKER MICHAEL L on Friday, September 29. $1.48 million worth of stock was sold by Subramaniam Rajesh on Thursday, September 21. 80 shares valued at $19,837 were bought by SCHWAB SUSAN C on Tuesday, February 6. $2.55M worth of FedEx Corporation (NYSE:FDX) was sold by Maier Henry J.

Ratings analysis reveals 29% of Sysco’s analysts are positive. Out of 7 Wall Street analysts rating Sysco, 2 give it “Buy”, 1 “Sell” rating, while 4 recommend “Hold”. The lowest target is $47.0 while the high is $53.0. The stock’s average target of $49.33 is -17.93% below today’s ($60.11) share price. SYY was included in 7 notes of analysts from September 23, 2016. Barclays Capital initiated the shares of SYY in report on Friday, September 23 with “Underweight” rating. The rating was upgraded by Bank of America on Tuesday, November 8 to “Buy”. The firm has “Neutral” rating given on Wednesday, November 16 by Credit Suisse. The rating was upgraded by JP Morgan on Tuesday, February 7 to “Overweight”. The company was maintained on Tuesday, November 8 by Pivotal Research. The stock of Sysco Corporation (NYSE:SYY) has “Neutral” rating given on Friday, December 9 by Goldman Sachs. RBC Capital Markets initiated the shares of SYY in report on Wednesday, January 25 with “Sector Perform” rating.

The stock increased 1.23% or $0.73 during the last trading session, reaching $60.11. About 2.79 million shares traded or 14.34% up from the average. Sysco Corporation (SYY) has risen 11.23% since March 16, 2017 and is uptrending. It has underperformed by 5.47% the S&P500.

Analysts await Sysco Corporation (NYSE:SYY) to report earnings on May, 14. They expect $0.66 earnings per share, up 29.41% or $0.15 from last year’s $0.51 per share. SYY’s profit will be $344.47 million for 22.77 P/E if the $0.66 EPS becomes a reality. After $0.66 actual earnings per share reported by Sysco Corporation for the previous quarter, Wall Street now forecasts 0.00% EPS growth.

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