Actionable news
0
All posts from Actionable news
Actionable news in SYY: SYSCO CORPORATION,

Cramer Talks Sysco, Highlights Nelson Peltz's Involvement In The Company

Trade with confidence. Are you a professional trader? Be the first to get the alert with Benzinga Pro's real-time newsfeed and audio squawk and never miss an opportunity again.
Don't miss the chance to try it FREE today.

Shares of SYSCO Corporation SYY 5.49% gained more than 4 percent on Monday and hit a new 52-week high of $48.19 after the company reported a top and bottom third quarter beat.

CNBC's Jim Cramer commented on the run-up in Sysco's stock, which has gained 17 percent since the start of 2016 and nearly 30 percent over the past year.

Cramer stated the food delivery company reported a "really terrific" quarter, but the company's attractiveness extends beyond just one quarterly report.

Nelson Peltz's Trian Partners acquired a stake of more than 7 percent in Sysco back in August 2015. In addition, Peltz was also named to the company's Board of Directors. According to Cramer, Peltz has a proven track record of picking winners - including Sysco.

Related Link: Sysco Rising After Nelson Peltz Reveals Activist Stake

Cramer pointed out that investors who shadow Peltz's investments, even after the investor discloses a stake, will likely outperform the S&P 500 index.

"He is just a really shrewd investor who helps management," Cramer said. "I think Nelson [Peltz] is a very opportunistic, smart investor."

Through Peltz's involvement in the company, Sysco has become a "terrific" company, Cramer concluded.

© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.