Tyson Foods Inc. (TSN) Rating Lowered to Sell at Goldman Sachs Group Inc.
Tyson Foods Inc. (NYSE:TSN) was downgraded by Goldman Sachs Group Inc. to a “sell” rating in a note issued to investors on Monday.
TSN has been the subject of a number of other research reports. Zacks Investment Research upgraded shares of Tyson Foods from a “hold” rating to a “buy” rating and set a $83.00 price target for the company in a research note on Tuesday, August 9th. JPMorgan Chase & Co. restated a “focus list” rating on shares of Tyson Foods in a research note on Tuesday, October 4th. Jefferies Group boosted their price target on shares of Tyson Foods from $78.00 to $80.00 and gave the company a “buy” rating in a research note on Wednesday, July 27th. Vetr lowered shares of Tyson Foods from a “hold” rating to a “sell” rating and set a $67.00 price target for the company. in a research note on Monday, October 31st. Finally, BMO Capital Markets upgraded shares of Tyson Foods from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $70.50 to $84.00 in a research note on Tuesday, October 11th. Four equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $68.29.
Shares of Tyson Foods (NYSE:TSN) traded down 14.73% during mid-day trading on Monday, reaching $57.44. 21,052,731 shares of the company’s stock were exchanged. The company’s 50-day moving average price is $70.28 and its 200 day moving average price is $69.84. Tyson Foods has a 52-week low of $44.98 and a 52-week high of $77.05. The company has a market cap of $21.95 billion, a PE ratio of 13.97 and a beta of 0.18.
Tyson Foods (NYSE:TSN) last released its earnings results on Monday, November 21st. The company reported $0.96 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.16 by $0.20. Tyson Foods had a net margin of 4.28% and a return on equity of 17.29%. The company had revenue of $9.16 billion for the quarter, compared to analyst estimates of $9.38 billion. During the same quarter in the previous year, the firm earned $0.83 EPS. The firm’s revenue was down 12.8% on a year-over-year basis. On average, equities research analysts predict that Tyson Foods will post $4.59 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 15th. Investors of record on Wednesday, March 1st will be given a dividend of $0.225 per share. This represents a $0.90 annualized dividend and a yield of 1.34%. This is a positive change from Tyson Foods’s previous quarterly dividend of $0.15. Tyson Foods’s dividend payout ratio is presently 14.53%.
In other Tyson Foods news, insider Donnie King sold 146,641 shares of the company’s stock in a transaction dated 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 through the SEC website. Also, insider Noel W. White sold 74,934 shares of the company’s stock in a transaction dated Friday, August 26th. The shares were sold at an average price of $75.44, for a total transaction of $5,653,020.96. The disclosure for this sale can be found here. Corporate insiders own 2.69% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in the stock. ETRADE Capital Management LLC acquired a new stake in Tyson Foods during the third quarter valued at approximately $207,000. Piedmont Investment Advisors LLC acquired a new stake in Tyson Foods during the third quarter valued at approximately $6,041,000. Quantitative Systematic Strategies LLC acquired a new stake in Tyson Foods during the third quarter valued at approximately $2,272,000. LPL Financial LLC increased its stake in Tyson Foods by 6.3% in the third quarter. LPL Financial LLC now owns 36,187 shares of the company’s stock valued at $2,666,000 after buying an additional 2,142 shares during the period. Finally, Crow Point Partners LLC acquired a new stake in Tyson Foods during the third quarter valued at approximately $204,000. 73.44% 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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