Tyson Foods Inc. (TSN) Given New $65.00 Price Target at Credit Suisse Group AG
Tyson Foods Inc. (NYSE:TSN) had its price target lowered by Credit Suisse Group AG from $72.00 to $65.00 in a research report released on Tuesday. Credit Suisse Group AG currently has a neutral rating on the stock.
TSN has been the subject of several other reports. JPMorgan Chase & Co. lowered Tyson Foods from a buy rating to a sell rating in a report on Wednesday, October 12th. Zacks Investment Research lowered Tyson Foods from a buy rating to a hold rating in a report on Friday, October 28th. Vetr raised Tyson Foods from a strong sell rating to a sell rating and set a $68.87 price objective for the company in a report on Tuesday, October 11th. Pivotal Research lowered Tyson Foods from a buy rating to a sell rating and lowered their price objective for the company from $100.00 to $40.00 in a report on Friday, October 7th. Finally, BMO Capital Markets upgraded Tyson Foods from a market perform rating to an outperform rating and lifted their target price for the company from $70.50 to $84.00 in a research note on Tuesday, October 11th. Three research analysts have rated the stock with a sell rating, five have given a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of Hold and a consensus price target of $69.41.
Shares of Tyson Foods (NYSE:TSN) opened at 58.96 on Tuesday. The firm’s 50-day moving average price is $69.28 and its 200-day moving average price is $69.75. The firm has a market capitalization of $22.53 billion, a PE ratio of 14.34 and a beta of 0.18. Tyson Foods has a 52-week low of $48.52 and a 52-week high of $77.05.
Tyson Foods (NYSE:TSN) last issued its quarterly earnings data on Monday, November 21st. The company reported $0.96 EPS for the quarter, missing the Zacks’ consensus estimate of $1.16 by $0.20. The company had revenue of $9.16 billion for the quarter, compared to analyst estimates of $9.38 billion. Tyson Foods had a return on equity of 17.57% and a net margin of 4.79%. The company’s revenue for the quarter was down 12.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.83 EPS. On average, equities analysts predict that Tyson Foods will post $4.59 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 15th. Shareholders of record on Wednesday, March 1st will be given a $0.225 dividend. This represents a $0.90 dividend on an annualized basis and a yield of 1.53%. This is an increase from Tyson Foods’s previous quarterly dividend of $0.15. The ex-dividend date is Monday, February 27th. Tyson Foods’s dividend payout ratio is 13.25%.
In other Tyson Foods news, insider Noel W. White sold 74,934 shares of the company’s stock in a transaction that occurred on Friday, August 26th. The stock was sold at an average price of $75.44, for a total value of $5,653,020.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Donnie King sold 146,641 shares of the company’s stock in a transaction that occurred on Thursday, August 25th. The stock was sold at an average price of $75.75, for a total value of $11,108,055.75. The disclosure for this sale can be found here. 2.69% of the stock is owned by company insiders.
A number of large investors have recently added to or reduced their stakes in TSN. Washington Trust Bank boosted its position in Tyson Foods by 2.2% in the third quarter. Washington Trust Bank now owns 1,431 shares of the company’s stock valued at $107,000 after buying an additional 31 shares in the last quarter. Evercore Wealth Management LLC boosted its position in Tyson Foods by 22.2% in the second quarter. Evercore Wealth Management LLC now owns 1,775 shares of the company’s stock valued at $119,000 after buying an additional 323 shares in the last quarter. Financial Architects Inc boosted its position in Tyson Foods by 1,101.3% in the second quarter. Financial Architects Inc now owns 1,838 shares of the company’s stock valued at $122,000 after buying an additional 1,685 shares in the last quarter. Itau Unibanco Holding S.A. bought a new position in Tyson Foods during the third quarter valued at about $140,000. Finally, Kernodle & Katon Asset Management Group LLC bought a new position in Tyson Foods during the second quarter valued at about $156,000. Hedge funds and other institutional investors own 73.44% 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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