Tyson Foods, Inc. (TSN) Lifted to Buy at BidaskClub
BidaskClub upgraded shares of Tyson Foods, Inc. (NYSE:TSN) from a hold rating to a buy rating in a report released on Monday.
Several other research analysts have also issued reports on TSN. Zacks Investment Research raised Tyson Foods from a hold rating to a buy rating and set a $73.00 target price for the company in a research report on Thursday, August 10th. BMO Capital Markets reaffirmed an outperform rating and set a $78.00 target price (up from $75.00) on shares of Tyson Foods in a research report on Thursday, August 10th. Pivotal Research reaffirmed a sell rating and set a $40.00 target price on shares of Tyson Foods in a research report on Tuesday, August 8th. Royal Bank Of Canada raised their target price on Tyson Foods from $68.00 to $70.00 and gave the stock a sector perform rating in a research report on Tuesday, August 8th. Finally, Credit Suisse Group set a $70.00 target price on Tyson Foods and gave the stock a neutral rating in a research report on Tuesday, August 8th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of Buy and a consensus price target of $69.79.
Shares of Tyson Foods (NYSE TSN) opened at 64.90 on Monday. Tyson Foods has a 52 week low of $55.72 and a 52 week high of $77.05. The firm has a market capitalization of $23.81 billion, a PE ratio of 13.68 and a beta of 0.26. The company’s 50 day moving average price is $62.71 and its 200-day moving average price is $62.26.
Tyson Foods (NYSE:TSN) last announced its earnings results on Monday, August 7th. The company reported $1.28 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.18 by $0.10. The business had revenue of $9.85 billion during the quarter, compared to analyst estimates of $9.49 billion. Tyson Foods had a return on equity of 18.44% and a net margin of 4.75%. Tyson Foods’s revenue for the quarter was up 4.8% compared to the same quarter last year. During the same period last year, the company earned $1.21 EPS. On average, equities research analysts expect that Tyson Foods will post $5.06 EPS for the current fiscal year.
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The company also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Friday, December 1st will be paid a $0.225 dividend. The ex-dividend date is Thursday, November 30th. This represents a $0.90 annualized dividend and a dividend yield of 1.39%. Tyson Foods’s dividend payout ratio is presently 18.95%.
In other news, Director Mikel A. Durham bought 2,809 shares of Tyson Foods stock in a transaction dated Monday, August 14th. The stock was bought at an average cost of $65.77 per share, for a total transaction of $184,747.93. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Dennis Leatherby sold 145,100 shares of the firm’s stock in a transaction dated Monday, August 14th. The shares were sold at an average price of $65.97, for a total value of $9,572,247.00. The disclosure for this sale can be found here. Company insiders own 2.65% of the company’s stock.
Several hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. increased its stake in shares of Tyson Foods by 3.7% in the second quarter. Vanguard Group Inc. now owns 24,978,429 shares of the company’s stock valued at $1,564,398,000 after buying an additional 900,009 shares in the last quarter. BlackRock Inc. increased its stake in shares of Tyson Foods by 0.7% in the second quarter. BlackRock Inc. now owns 19,191,662 shares of the company’s stock valued at $1,201,973,000 after buying an additional 136,071 shares in the last quarter. State Street Corp increased its stake in shares of Tyson Foods by 0.9% in the first quarter. State Street Corp now owns 14,004,153 shares of the company’s stock valued at $864,191,000 after buying an additional 120,056 shares in the last quarter. Ameriprise Financial Inc. increased its stake in shares of Tyson Foods by 5.7% in the second quarter. Ameriprise Financial Inc. now owns 7,843,052 shares of the company’s stock valued at $491,179,000 after buying an additional 423,836 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its stake in shares of Tyson Foods by 10.5% in the first quarter. JPMorgan Chase & Co. now owns 5,855,494 shares of the company’s stock valued at $361,341,000 after buying an additional 558,104 shares in the last quarter. Institutional investors own 71.05% of the company’s stock.
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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