Vetr Inc. Downgrades Tyson Foods Inc. (TSN) to Strong Sell
Tyson Foods Inc. (NYSE:TSN) was downgraded by stock analysts at Vetr from a “sell” rating to a “strong sell” rating in a research report issued on Monday. They presently have a $61.30 price target on the stock. Vetr‘s price target points to a potential downside of 13.05% from the company’s previous close.
TSN has been the subject of several other reports. JPMorgan Chase & Co. reiterated a “focus list” rating on shares of Tyson Foods in a research note on Tuesday, October 4th. Pivotal Research cut Tyson Foods from a “buy” rating to a “sell” rating and reduced their target price for the company from $100.00 to $40.00 in a research note on Friday. Jefferies Group increased their target price on Tyson Foods from $78.00 to $80.00 and gave the company a “buy” rating in a research note on Wednesday, July 27th. Zacks Investment Research upgraded 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. Finally, RBC Capital Markets reiterated a “sector perform” rating and set a $72.00 target price (up from $68.00) on shares of Tyson Foods in a research note on Friday, August 5th. Two analysts have rated the stock with a sell rating, five have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $67.38.
Shares of Tyson Foods (NYSE:TSN) traded up 4.06% during trading on Monday, reaching $70.50. 5,460,472 shares of the company’s stock traded hands. The company has a market capitalization of $26.94 billion, a price-to-earnings ratio of 17.14 and a beta of 0.26. Tyson Foods has a 1-year low of $42.89 and a 1-year high of $77.05. The company has a 50 day moving average of $74.59 and a 200-day moving average of $69.19.
Tyson Foods (NYSE:TSN) last released its earnings results on Monday, August 8th. The company reported $1.21 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.06 by $0.15. The company earned $9.40 billion during the quarter, compared to analysts’ expectations of $9.32 billion. Tyson Foods had a return on equity of 17.29% and a net margin of 4.28%. The business’s revenue was down 6.6% on a year-over-year basis. During the same period in the prior year, the business posted $0.80 EPS. Equities analysts predict that Tyson Foods will post $4.53 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 15th. Stockholders of record on Thursday, December 1st will be issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.85%. The ex-dividend date of this dividend is Tuesday, November 29th. Tyson Foods’s dividend payout ratio (DPR) is 14.53%.
In other news, insider Donnie King sold 146,641 shares of the firm’s stock in a transaction on Thursday, August 25th. The stock was sold at an average price of $75.75, for a total transaction of $11,108,055.75. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Noel W. White sold 74,500 shares of the firm’s stock in a transaction on Wednesday, August 10th. The shares were sold at an average price of $74.56, for a total value of $5,554,720.00. The disclosure for this sale can be found here. Insiders own 2.69% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of the stock. Meeder Asset Management Inc. acquired a new position in shares of Tyson Foods during the first quarter worth approximately $3,248,000. State Street Corp raised its position in Tyson Foods by 5.3% in the first quarter. State Street Corp now owns 12,852,492 shares of the company’s stock worth $856,748,000 after buying an additional 647,431 shares during the last quarter. Canada Pension Plan Investment Board raised its position in Tyson Foods by 2,527.8% in the first quarter. Canada Pension Plan Investment Board now owns 482,252 shares of the company’s stock worth $32,147,000 after buying an additional 463,900 shares during the last quarter. Credit Agricole S A raised its position in Tyson Foods by 94.8% in the first quarter. Credit Agricole S A now owns 1,426,087 shares of the company’s stock worth $95,066,000 after buying an additional 694,025 shares during the last quarter. Finally, Aviva PLC raised its position in Tyson Foods by 3.2% in the first quarter. Aviva PLC now owns 181,316 shares of the company’s stock worth $12,086,000 after buying an additional 5,668 shares during the last quarter. 74.07% of the stock is currently owned by institutional investors.
Tyson Foods Company Profile
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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