Royal Bank Of Canada Boosts Tyson Foods, Inc. (NYSE:TSN) Price Target to $70.00
Tyson Foods, Inc. (NYSE:TSN) had its price target hoisted by Royal Bank Of Canada from $68.00 to $70.00 in a report issued on Tuesday, Marketbeat reports. They currently have a sector perform rating on the stock.
A number of other equities analysts have also recently commented on TSN. Pivotal Research reissued a sell rating and issued a $40.00 price objective on shares of Tyson Foods in a research note on Tuesday. Credit Suisse Group set a $70.00 price objective on shares of Tyson Foods and gave the stock a neutral rating in a research note on Tuesday. BidaskClub cut shares of Tyson Foods from a buy rating to a hold rating in a research note on Thursday, June 29th. Zacks Investment Research cut shares of Tyson Foods from a buy rating to a hold rating in a research note on Wednesday, August 2nd. Finally, Vertical Research raised shares of Tyson Foods from a hold rating to a buy rating in a research note on Tuesday, June 13th. One analyst has rated the stock with a sell rating, six have issued a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of Buy and an average price target of $69.79.
Tyson Foods (NYSE:TSN) traded up 1.05% during midday trading on Tuesday, hitting $65.55. 2,783,319 shares of the company were exchanged. Tyson Foods has a 1-year low of $55.72 and a 1-year high of $77.05. The stock has a 50 day moving average of $62.32 and a 200-day moving average of $62.16. The stock has a market capitalization of $24.05 billion, a price-to-earnings ratio of 13.82 and a beta of 0.26.
Tyson Foods (NYSE:TSN) last announced its quarterly earnings results on Monday, August 7th. The company reported $1.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.18 by $0.10. The company had revenue of $9.85 billion for the quarter, compared to the consensus estimate of $9.49 billion. Tyson Foods had a net margin of 4.75% and a return on equity of 18.44%. Tyson Foods’s revenue for the quarter was up 4.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.21 EPS. Equities analysts expect that Tyson Foods will post $5.06 earnings per share for the current year.
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The company also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Friday, December 1st will be paid a dividend of $0.225 per share. The ex-dividend date is Thursday, November 30th. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.37%. Tyson Foods’s dividend payout ratio is presently 18.95%.
Several institutional investors have recently added to or reduced their stakes in the company. National Pension Service boosted its position in Tyson Foods by 7.1% in the first quarter. National Pension Service now owns 265,039 shares of the company’s stock worth $16,337,000 after buying an additional 17,455 shares in the last quarter. Koch Industries Inc. purchased a new position in Tyson Foods during the first quarter worth approximately $343,000. JPMorgan Chase & Co. boosted its position in Tyson Foods by 10.5% in the first quarter. JPMorgan Chase & Co. now owns 5,855,494 shares of the company’s stock worth $361,341,000 after buying an additional 558,104 shares in the last quarter. APG Asset Management N.V. boosted its position in Tyson Foods by 10.3% in the second quarter. APG Asset Management N.V. now owns 3,784,280 shares of the company’s stock worth $237,009,000 after buying an additional 352,000 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. purchased a new position in Tyson Foods during the first quarter worth approximately $4,097,000. 71.97% of the stock is owned by hedge funds and other institutional investors.
About Tyson Foods
Tyson Foods, Inc is a food company, which is engaged in offering chicken, beef and pork, as well as prepared foods. The Company offers food products under Tyson, Jimmy Dean, Hillshire Farm, Sara Lee, Ball Park, Wright, Aidells and State Fair brands. The Company operates through four segments: Chicken, Beef, Pork and Prepared Foods.
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