Tyson Foods Inc. (TSN) Cut to “Sell” at Pivotal Research
Pivotal Research downgraded shares of Tyson Foods Inc. (NYSE:TSN) from a buy rating to a sell rating in a research report released on Friday. The firm currently has $40.00 target price on the stock, down from their prior target price of $100.00.
Several other research firms have also recently commented on TSN. JPMorgan Chase & Co. restated a focus list rating on shares of Tyson Foods in a report on Tuesday, October 4th. Zacks Investment Research raised shares of Tyson Foods from a hold rating to a buy rating and set a $83.00 price objective on the stock in a research report on Tuesday, August 9th. Vetr lowered shares of Tyson Foods from a strong-buy rating to a buy rating and set a $69.00 price objective on the stock. in a research report on Wednesday, June 22nd. Jefferies Group raised their price objective on shares of Tyson Foods from $78.00 to $80.00 and gave the company a buy rating in a research report on Wednesday, July 27th. Finally, BMO Capital Markets reaffirmed a market perform rating and set a $77.00 price objective on shares of Tyson Foods in a research report on Thursday, August 11th. Three analysts have rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating to the company’s stock. The company presently has a consensus rating of Hold and a consensus target price of $68.42.
Tyson Foods (NYSE:TSN) opened at 71.56 on Friday. Tyson Foods has a 1-year low of $42.89 and a 1-year high of $77.05. The firm’s 50-day moving average is $74.36 and its 200-day moving average is $69.22. The company has a market capitalization of $27.34 billion, a P/E ratio of 17.40 and a beta of 0.26.
Tyson Foods (NYSE:TSN) last posted its quarterly earnings results on Monday, August 8th. The company reported $1.21 EPS for the quarter, topping the consensus estimate of $1.06 by $0.15. The business earned $9.40 billion during the quarter, compared to analysts’ expectations of $9.32 billion. Tyson Foods had a net margin of 4.28% and a return on equity of 17.29%. The firm’s quarterly revenue was down 6.6% compared to the same quarter last year. During the same period last year, the company posted $0.80 earnings per share. Equities research analysts predict that Tyson Foods will post $4.53 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, December 15th. Investors of record on Thursday, December 1st will be given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 0.84%. The ex-dividend date of this dividend is Tuesday, November 29th. Tyson Foods’s dividend payout ratio (DPR) is currently 14.53%.
In related news, insider Noel W. White sold 74,934 shares of the business’s stock in a transaction on Friday, August 26th. The shares were sold at an average price of $75.44, for a total transaction of $5,653,020.96. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Chairman John H. Tyson sold 282,478 shares of the business’s stock in a transaction on Wednesday, August 17th. The stock was sold at an average price of $74.22, for a total transaction of $20,965,517.16. The disclosure for this sale can be found here. Corporate insiders own 2.69% of the company’s stock.
Institutional investors have recently made changes to their positions in the company. Credit Agricole S A raised its position in shares of Tyson Foods by 94.8% in the first quarter. Credit Agricole S A now owns 1,426,087 shares of the company’s stock worth $95,066,000 after buying an additional 694,025 shares during the period. Aviva PLC raised its position in shares of Tyson Foods by 3.2% in the first quarter. Aviva PLC now owns 181,316 shares of the company’s stock worth $12,086,000 after buying an additional 5,668 shares during the period. Investec Asset Management North America Inc. raised its position in shares of Tyson Foods by 40.1% in the first quarter. Investec Asset Management North America Inc. now owns 23,122 shares of the company’s stock worth $1,541,000 after buying an additional 6,621 shares during the period. Investec Asset Management LTD raised its position in shares of Tyson Foods by 1.0% in the first quarter. Investec Asset Management LTD now owns 2,536,172 shares of the company’s stock worth $169,061,000 after buying an additional 25,790 shares during the period. Finally, M&T Bank Corp raised its position in shares of Tyson Foods by 21.0% in the first quarter. M&T Bank Corp now owns 32,474 shares of the company’s stock worth $2,166,000 after buying an additional 5,633 shares during the period. 74.07% of the stock is currently owned by institutional investors and hedge funds.
Tyson Foods Company Profile
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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