Tyson Foods (TSN) Receives “Hold” Rating from Royal Bank of Canada
Royal Bank of Canada reaffirmed their hold rating on shares of Tyson Foods (NYSE:TSN) in a report issued on Tuesday morning, The Fly reports. Royal Bank of Canada currently has a $77.00 price objective on the stock.
Other equities analysts also recently issued reports about the company. Barclays decreased their price target on Tyson Foods from $80.00 to $73.00 and set a buy rating for the company in a research note on Monday, July 30th. ValuEngine downgraded Tyson Foods from a hold rating to a sell rating in a research note on Monday, July 2nd. Stephens decreased their price target on Tyson Foods to $73.00 and set an overweight rating for the company in a research note on Monday, July 30th. They noted that the move was a valuation call. Buckingham Research reiterated a hold rating and issued a $71.00 price target (down from $79.00) on shares of Tyson Foods in a research note on Tuesday, May 8th. Finally, reiterated a sell rating on shares of Tyson Foods in a research note on Thursday, July 5th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and ten have issued a buy rating to the stock. The company has a consensus rating of Hold and an average target price of $71.11.
Tyson Foods traded up $0.48, reaching $60.18, during mid-day trading on Tuesday, MarketBeat reports. The stock had a trading volume of 2,585,527 shares, compared to its average volume of 3,172,512. The company has a market capitalization of $21.91 billion, a price-to-earnings ratio of 11.33, a price-to-earnings-growth ratio of 0.93 and a beta of 0.05. Tyson Foods has a 1-year low of $56.79 and a 1-year high of $84.65. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.69 and a current ratio of 1.48.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 14th. Stockholders of record on Friday, November 30th will be issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.99%. Tyson Foods’s dividend payout ratio (DPR) is presently 22.60%.
In other news, insider Sally Grimes sold 19,258 shares of Tyson Foods stock in a transaction that occurred on Sunday, July 1st. The stock was sold at an average price of $68.85, for a total transaction of $1,325,913.30. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Thomas P. Hayes sold 20,202 shares of Tyson Foods stock in a transaction that occurred on Sunday, July 1st. The shares were sold at an average price of $68.85, for a total value of $1,390,907.70. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 39,610 shares of company stock worth $2,727,593. Corporate insiders own 2.65% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. IFM Investors Pty Ltd raised its holdings in shares of Tyson Foods by 9.5% during the first quarter. IFM Investors Pty Ltd now owns 8,855 shares of the company’s stock valued at $648,000 after buying an additional 771 shares during the last quarter. TLP Group LLC raised its holdings in shares of Tyson Foods by 33.6% during the first quarter. TLP Group LLC now owns 3,074 shares of the company’s stock valued at $225,000 after buying an additional 773 shares during the last quarter. RDL Financial Inc. raised its holdings in shares of Tyson Foods by 3.9% during the second quarter. RDL Financial Inc. now owns 21,356 shares of the company’s stock valued at $1,470,000 after buying an additional 795 shares during the last quarter. Whittier Trust Co. of Nevada Inc. increased its stake in shares of Tyson Foods by 10.0% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 9,257 shares of the company’s stock valued at $637,000 after acquiring an additional 839 shares during the period. Finally, MUFG Americas Holdings Corp increased its stake in shares of Tyson Foods by 99.3% during the second quarter. MUFG Americas Holdings Corp now owns 1,722 shares of the company’s stock valued at $119,000 after acquiring an additional 858 shares during the period. 71.79% of the stock is currently owned by institutional investors.
Tyson Foods Company Profile
Tyson Foods, Inc, together with its subsidiaries, operates as a food company worldwide. It operates through four segments: Chicken, Beef, Pork, and Prepared Foods. The company raises and processes chickens into fresh, frozen, and value-added chicken products; processes live fed cattle and live market hogs; and fabricates dressed beef and pork carcasses into primal and sub-primal meat cuts, as well as case ready beef and pork, and fully-cooked meats.
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