Tyson Foods, Inc. (TSN) Lowered to “Hold” at Zacks Investment Research
Zacks Investment Research downgraded shares of Tyson Foods, Inc. (NYSE:TSN) from a strong-buy rating to a hold rating in a research note published on Monday.
According to Zacks, “Tyson Foods’ shares have been underperforming the broader industry over the past six months. While the company’s growth is mainly driven by acquisitions, increased demand of chicken and strong focus in protein packed brands, stressed margins owing to rising costs and higher wages remain its woes. We note that Tyson Foods’ margins remains exposed to rising operational costs as a result of increasing investments to improve supply and higher wage costs. Nevertheless, the acquisition of AdvancePierre, divestment of non-protein businesses, focus on growth categories and channels and the recent investment in the poultry plant are in-line with the company’s strategy to expand its protein-packed brands. The company’s recent upbeat third-quarter fiscal 2017 results also benefitted from the strong performance of its segments, improved availability of cattle supply and higher exports.”
Several other research firms have also weighed in on TSN. Pivotal Research reissued a sell rating and issued a $40.00 price objective on shares of Tyson Foods in a research report on Tuesday, August 8th. ValuEngine lowered Tyson Foods from a buy rating to a hold rating in a research report on Friday, June 2nd. BidaskClub lowered Tyson Foods from a buy rating to a hold rating in a research report on Saturday, August 26th. Jefferies Group LLC reissued a buy rating and issued a $75.00 price objective on shares of Tyson Foods in a research report on Thursday, July 27th. Finally, Goldman Sachs Group, Inc. (The) reissued a buy rating and issued a $76.00 price objective on shares of Tyson Foods in a research report on Tuesday, May 9th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. Tyson Foods has an average rating of Buy and an average target price of $69.79.
Shares of Tyson Foods (TSN) opened at 63.30 on Monday. The company has a market cap of $23.22 billion, a P/E ratio of 13.35 and a beta of 0.26. Tyson Foods has a 12-month low of $55.72 and a 12-month high of $77.05. The company has a 50-day moving average price of $63.49 and a 200-day moving average price of $62.21.
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, analysts predict that Tyson Foods will post $5.06 earnings per share for the current year.
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The business also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Friday, December 1st will be paid a dividend of $0.225 per share. The ex-dividend date of this dividend is Thursday, November 30th. This represents a $0.90 dividend on an annualized basis and a yield of 1.42%. Tyson Foods’s dividend payout ratio (DPR) is currently 18.95%.
In other Tyson Foods news, Director Mikel A. Durham bought 2,809 shares of the business’s stock in a transaction dated Monday, August 14th. The shares were purchased at an average price of $65.77 per share, for a total transaction of $184,747.93. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Dennis Leatherby sold 145,100 shares of the business’s stock in a transaction that occurred on Monday, August 14th. The stock was 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. 2.65% of the stock is currently owned by insiders.
Several institutional investors have recently made changes to their positions in the company. Lord Abbett & CO. LLC increased its position in shares of Tyson Foods by 1.0% in the second quarter. Lord Abbett & CO. LLC now owns 242,500 shares of the company’s stock worth $15,188,000 after buying an additional 2,300 shares during the last quarter. Sentry Investment Management LLC increased its position in shares of Tyson Foods by 1.0% in the second quarter. Sentry Investment Management LLC now owns 22,219 shares of the company’s stock worth $1,392,000 after buying an additional 229 shares during the last quarter. Toronto Dominion Bank increased its position in shares of Tyson Foods by 25.9% in the second quarter. Toronto Dominion Bank now owns 97,612 shares of the company’s stock worth $6,112,000 after buying an additional 20,110 shares during the last quarter. Archford Capital Strategies LLC increased its position in shares of Tyson Foods by 27,492.3% in the second quarter. Archford Capital Strategies LLC now owns 3,587 shares of the company’s stock worth $149,000 after buying an additional 3,574 shares during the last quarter. Finally, Afam Capital Inc. increased its position in shares of Tyson Foods by 4.8% in the second quarter. Afam Capital Inc. now owns 73,835 shares of the company’s stock worth $4,624,000 after buying an additional 3,367 shares during the last quarter. Hedge funds and other institutional investors own 70.83% of the company’s stock.
Tyson Foods Company Profile
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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