Tyson Foods Inc. (TSN) Downgraded by JPMorgan Chase & Co. to “Sell”
A number of other brokerages have also weighed in on TSN. Vetr lowered shares of Tyson Foods from a strong-buy rating to a buy rating and set a $69.00 price objective for the company. in a report on Wednesday, June 22nd. Zacks Investment Research upgraded shares of Tyson Foods from a hold rating to a buy rating and set a $83.00 price objective for the company in a report on Tuesday, August 9th. Jefferies Group lifted their price objective on shares of Tyson Foods from $78.00 to $80.00 and gave the company a buy rating in a report on Wednesday, July 27th. BMO Capital Markets upgraded shares of Tyson Foods from a market perform rating to an outperform rating and lifted their price objective for the company from $70.50 to $84.00 in a report on Tuesday. Finally, Pivotal Research downgraded shares of Tyson Foods from a buy rating to a sell rating and cut their price objective for the stock from $100.00 to $40.00 in a research report on Friday, October 7th. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating to the company’s stock. The stock has an average rating of Hold and an average target price of $68.42.
Shares of Tyson Foods (NYSE:TSN) traded up 0.29% on Wednesday, hitting $71.77. 640,704 shares of the stock traded hands. Tyson Foods has a 52-week low of $42.89 and a 52-week high of $77.05. The stock’s 50 day moving average price is $74.36 and its 200 day moving average price is $69.22. The stock has a market cap of $27.42 billion, a P/E ratio of 17.45 and a beta of 0.26.
Tyson Foods (NYSE:TSN) last announced 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 analyst estimates of $9.32 billion. During the same quarter last year, the business posted $0.80 EPS. The firm’s revenue for the quarter was down 6.6% on a year-over-year basis. On average, equities analysts expect that Tyson Foods will post $4.53 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 15th. Investors of record on Thursday, December 1st will be issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.84%. The ex-dividend date of this dividend is Tuesday, November 29th. Tyson Foods’s dividend payout ratio is currently 14.53%.
In related news, insider Noel W. White sold 74,500 shares of the company’s stock in a transaction dated Wednesday, August 10th. The shares were sold at an average price of $74.56, for a total value of $5,554,720.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Robert C. Thurber sold 4,500 shares of the company’s stock in a transaction dated 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. 2.69% of the stock is currently owned by corporate insiders.
Several large investors have recently made changes to their positions in TSN. UBS Asset Management Americas Inc. raised its stake in shares of Tyson Foods by 12.5% in the first quarter. UBS Asset Management Americas Inc. now owns 881,512 shares of the company’s stock worth $58,762,000 after buying an additional 97,819 shares in the last quarter. Primecap Management Co. CA raised its position in shares of Tyson Foods by 1.0% in the first quarter. Primecap Management Co. CA now owns 1,656,100 shares of the company’s stock valued at $110,396,000 after buying an additional 16,100 shares during the period. Lazard Asset Management LLC raised its position in shares of Tyson Foods by 307.9% in the first quarter. Lazard Asset Management LLC now owns 249,910 shares of the company’s stock valued at $16,658,000 after buying an additional 188,638 shares during the period. Meeder Asset Management Inc. bought a new position in shares of Tyson Foods during the first quarter valued at $3,248,000. Finally, State Street Corp raised its position in shares of Tyson Foods by 5.3% in the first quarter. State Street Corp now owns 12,852,492 shares of the company’s stock valued at $856,748,000 after buying an additional 647,431 shares during the period. 74.07% of the stock is owned by hedge funds and other 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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