Pivotal Research lowered shares of Tyson Foods Inc. (NYSE:TSN) from a buy rating to a sell rating in a report published on Friday. Pivotal Research currently has $40.00 target price on the stock, down from their previous target price of $100.00.
A number of other research firms have also recently weighed in on TSN. JPMorgan Chase & Co. reaffirmed a focus list rating on shares of Tyson Foods in a report on Tuesday, October 4th. Zacks Investment Research raised shares of Tyson Foods from a hold rating to a buy rating and set a $83.00 target price for the company in a research note on Tuesday, August 9th. Vetr cut shares of Tyson Foods from a strong-buy rating to a buy rating and set a $69.00 target price for the company. in a research note on Wednesday, June 22nd. Jefferies Group boosted their target price on shares of Tyson Foods from $78.00 to $80.00 and gave the stock a buy rating in a research note on Wednesday, July 27th. Finally, BMO Capital Markets reissued a market perform rating and set a $77.00 target price on shares of Tyson Foods in a research note on Thursday, August 11th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of Buy and an average target price of $67.93.
Shares of Tyson Foods (NYSE:TSN) traded up 3.63% on Friday, hitting $70.21. 2,788,192 shares of the company were exchanged. The stock has a market capitalization of $26.82 billion, a PE ratio of 17.07 and a beta of 0.26. Tyson Foods has a 52-week low of $42.89 and a 52-week high of $77.05. The firm’s 50-day moving average is $74.71 and its 200-day moving average is $69.14.
Tyson Foods (NYSE:TSN) last released its quarterly earnings data on Monday, August 8th. The company reported $1.21 earnings per share for the quarter, beating analysts’ consensus estimates of $1.06 by $0.15. Tyson Foods had a net margin of 4.28% and a return on equity of 17.29%. The company earned $9.40 billion during the quarter, compared to analysts’ expectations of $9.32 billion. During the same quarter in the previous year, the company earned $0.80 earnings per share. The firm’s revenue for the quarter was down 6.6% on a year-over-year basis. Equities research analysts predict that Tyson Foods will post $4.53 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, December 15th. Shareholders of record on Thursday, December 1st will be issued a $0.15 dividend. The ex-dividend date of this dividend is Tuesday, November 29th. This represents a $0.60 annualized dividend and a yield of 0.85%. Tyson Foods’s payout ratio is 14.53%.
In other news, insider Donnie King sold 146,641 shares of the business’s stock in a transaction that occurred on Thursday, August 25th. The shares were sold at an average price of $75.75, for a total value of $11,108,055.75. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Donald Smith sold 38,006 shares of the business’s stock in a transaction that occurred on Monday, August 15th. The shares were sold at an average price of $75.20, for a total transaction of $2,858,051.20. The disclosure for this sale can be found here. 2.69% of the stock is currently owned by company insiders.
Large investors have recently added to or reduced their stakes in the stock. Bank of Montreal Can bought a new stake in Tyson Foods during the second quarter worth about $169,614,000. Candriam Luxembourg S.C.A. increased its stake 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 worth $1,199,000 after buying an additional 3,066 shares during the period. AMP Capital Investors Ltd increased its stake in Tyson Foods by 124.3% in the first quarter. AMP Capital Investors Ltd now owns 403,535 shares of the company’s stock worth $27,263,000 after buying an additional 223,636 shares during the period. Boston Advisors LLC increased its stake in Tyson Foods by 986.6% in the second quarter. Boston Advisors LLC now owns 301,645 shares of the company’s stock worth $20,147,000 after buying an additional 273,885 shares during the period. Finally, Nuveen Asset Management LLC increased its stake in Tyson Foods by 38.4% in the first quarter. Nuveen Asset Management LLC now owns 405,110 shares of the company’s stock worth $27,005,000 after buying an additional 112,404 shares during the period. 74.07% of the stock is currently owned by institutional investors and hedge funds.
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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