Tyson Foods Inc. (NYSE:TSN) was downgraded by JPMorgan Chase & Co. from a “buy” rating to a “sell” rating in a research note issued to investors on Wednesday.
Several other equities research analysts have also issued reports on TSN. Vetr lowered shares of Tyson Foods from a “strong-buy” rating to a “buy” rating and set a $69.00 price target on the stock. in a report on Wednesday, June 22nd. Zacks Investment Research lowered shares of Tyson Foods from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 12th. Jefferies Group boosted their target price on shares of Tyson Foods from $70.00 to $78.00 and gave the stock a “buy” rating in a report on Friday, July 15th. Credit Agricole SA boosted their target price on shares of Tyson Foods from $77.00 to $82.00 and gave the stock an “outperform” rating in a report on Tuesday, August 2nd. Finally, RBC Capital Markets reissued a “sector perform” rating and set a $72.00 target price (up from $68.00) on shares of Tyson Foods in a report on Friday, August 5th. Three equities research analysts have rated the stock with a sell rating, four have given a hold rating and seven have given a buy rating to the company. The company has an average rating of “Hold” and an average price target of $68.42.
Shares of Tyson Foods (NYSE:TSN) opened at 71.38 on Wednesday. Tyson Foods has a one year low of $42.89 and a one year high of $77.05. The company has a 50-day moving average of $74.47 and a 200-day moving average of $69.21. The company has a market capitalization of $27.27 billion, a PE ratio of 17.35 and a beta of 0.26.
Tyson Foods (NYSE:TSN) last announced its quarterly earnings results on Monday, August 8th. The company reported $1.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.06 by $0.15. The company had revenue of $9.40 billion for the quarter, compared to analyst estimates of $9.32 billion. Tyson Foods had a net margin of 4.28% and a return on equity of 17.29%. The firm’s revenue was down 6.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.80 EPS. On average, analysts anticipate that Tyson Foods will post $4.53 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, December 15th. Investors of record on Thursday, December 1st will be given a dividend of $0.15 per share. The ex-dividend date is Tuesday, November 29th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.84%. Tyson Foods’s payout ratio is presently 14.53%.
In related news, insider Donnie King sold 146,641 shares of the business’s stock in a transaction on Thursday, August 25th. The shares were sold at an average price of $75.75, for a total transaction of $11,108,055.75. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Robert C. Thurber sold 4,500 shares of the business’s stock in a transaction on Friday, August 12th. The shares were sold at an average price of $74.93, for a total transaction of $337,185.00. The disclosure for this sale can be found here. Corporate insiders own 2.69% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Bank of Montreal Can acquired a new position in Tyson Foods during the second quarter valued at $169,614,000. Candriam Luxembourg S.C.A. increased its position in Tyson Foods by 20.6% in the second quarter. Candriam Luxembourg S.C.A. now owns 17,945 shares of the company’s stock valued at $1,199,000 after buying an additional 3,066 shares during the last quarter. AMP Capital Investors Ltd increased its position in Tyson Foods by 124.3% in the first quarter. AMP Capital Investors Ltd now owns 403,535 shares of the company’s stock valued at $27,263,000 after buying an additional 223,636 shares during the last quarter. Boston Advisors LLC increased its position in Tyson Foods by 986.6% in the second quarter. Boston Advisors LLC now owns 301,645 shares of the company’s stock valued at $20,147,000 after buying an additional 273,885 shares during the last quarter. Finally, Nuveen Asset Management LLC increased its position in Tyson Foods by 38.4% in the first quarter. Nuveen Asset Management LLC now owns 405,110 shares of the company’s stock valued at $27,005,000 after buying an additional 112,404 shares during the last quarter. Institutional investors own 74.07% of the company’s stock.
About Tyson Foods
Tyson Foods, Inc is a food company. The Company is engaged in offering chicken, beef and pork, as well as prepared foods, including bacon, breakfast sausage, turkey, lunchmeat, hot dogs, pizza crusts and toppings, tortillas and desserts. The Company offers food products under Tyson, Jimmy Dean, Hillshire Farm, Sara Lee, Ball Park, Wright, Aidells and State Fair brands.
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