Sysco

SYY

Sysco Corporation is an American multinational corporation involved in marketing and distributing food products, smallwares, kitchen equipment and tabletop items to restaurants, healthcare and educational facilities, hospitality businesses like hotels and inns, and wholesale to other companies that provide foodservice (like Aramark and Sodexo). The company is headquartered in the Energy Corridor district of Houston, Texas.Sysco, an acronym for Systems and Services Company, is the world's largest broadline food distributor; it has more than 600,000 clients in a wide array of fields. Management consulting is also an integral part of their services. The company operates approximately 330 distribution facilities worldwide; providing service to over 90 countries. The company was founded by Herbert Irving, John F. Baugh and Harry Rosenthal in 1969. The company became public on March 3, 1970. On July 20, 2009, Fortune magazine ranked Sysco No. 204 in the annual Fortune 500 companies in world based on sales volume. On May 3, 2010, Fortune ranked Sysco as the 7th largest Fortune 500 Company in Texas and 55th largest in the U.S. by total revenue. Sysco is also the largest non-oil related company in Houston and the third largest non-tech related company in Texas (behind AT&T and Dell).

Sysco has been a target of short sellers for a while. The current short interest of 2.51% is roughly at the average of the last 12 months (2.72%).