Vetr Inc. Downgrades Tyson Foods Inc. (TSN) to Strong Sell
Tyson Foods Inc. (NYSE:TSN) was downgraded by analysts at Vetr from a “sell” rating to a “strong sell” rating in a report issued on Monday. They presently have a $61.30 price objective on the stock. Vetr‘s price objective indicates a potential downside of 14.12% from the stock’s previous close.
TSN has been the topic of several other reports. JPMorgan Chase & Co. reiterated a “focus list” rating on shares of Tyson Foods in a research note on Tuesday, October 4th. Pivotal Research cut Tyson Foods from a “buy” rating to a “sell” rating and lowered their price target for the company from $100.00 to $40.00 in a report on Friday, October 7th. Jefferies Group increased their price target on Tyson Foods from $78.00 to $80.00 and gave the company a “buy” rating in a report on Wednesday, July 27th. Zacks Investment Research raised Tyson Foods from a “hold” rating to a “buy” rating and set a $83.00 price target on the stock in a report on Tuesday, August 9th. Finally, RBC Capital Markets reissued a “sector perform” rating and set a $72.00 price target (up from $68.00) on shares of Tyson Foods in a report on Friday, August 5th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. Tyson Foods has an average rating of “Buy” and an average price target of $68.42.
Tyson Foods (NYSE:TSN) opened at 71.38 on Monday. The company’s 50-day moving average price is $74.47 and its 200 day moving average price is $69.21. Tyson Foods has a 52-week low of $42.89 and a 52-week high of $77.05. The stock has a market capitalization of $27.27 billion, a PE ratio of 17.35 and a beta of 0.26.
Tyson Foods (NYSE:TSN) last issued its earnings results on Monday, August 8th. The company reported $1.21 EPS for the quarter, beating the consensus estimate of $1.06 by $0.15. Tyson Foods had a return on equity of 17.29% and a net margin of 4.28%. The business had revenue of $9.40 billion for the quarter, compared to the consensus estimate of $9.32 billion. During the same period last year, the business posted $0.80 EPS. The company’s revenue was down 6.6% compared to the same quarter last year. Equities analysts forecast that Tyson Foods will post $4.53 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 15th. Shareholders of record on Thursday, December 1st will be issued a dividend of $0.15 per share. The ex-dividend date is Tuesday, November 29th. This represents a $0.60 dividend on an annualized basis and a yield of 0.84%. Tyson Foods’s dividend payout ratio is presently 14.53%.
In other Tyson Foods news, Director Robert C. Thurber sold 4,500 shares of the firm’s stock in a transaction dated Friday, August 12th. The stock was sold at an average price of $74.93, for a total transaction of $337,185.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Donnie King sold 146,641 shares of the firm’s stock in a transaction dated Thursday, August 25th. The shares were sold at an average price of $75.75, for a total value of $11,108,055.75. The disclosure for this sale can be found here. Company insiders own 2.69% of the company’s stock.
Large investors have recently bought and sold shares of the stock. Washington Trust Bank raised its position in shares of Tyson Foods by 2.2% in the third quarter. Washington Trust Bank now owns 1,431 shares of the company’s stock worth $107,000 after buying an additional 31 shares during the last quarter. Evercore Wealth Management LLC raised its position in shares of Tyson Foods by 22.2% in the second quarter. Evercore Wealth Management LLC now owns 1,775 shares of the company’s stock worth $119,000 after buying an additional 323 shares during the last quarter. Financial Architects Inc raised its position in shares of Tyson Foods by 1,101.3% in the second quarter. Financial Architects Inc now owns 1,838 shares of the company’s stock worth $122,000 after buying an additional 1,685 shares during the last quarter. IFP Advisors Inc raised its position in shares of Tyson Foods by 22.6% in the first quarter. IFP Advisors Inc now owns 1,945 shares of the company’s stock worth $130,000 after buying an additional 359 shares during the last quarter. Finally, Kernodle & Katon Asset Management Group LLC purchased a new position in shares of Tyson Foods during the second quarter worth $156,000. 74.07% of the stock is currently owned by institutional investors and hedge funds.
About Tyson Foods
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.
To view Vetr’s full report, visit Vetr’s official website.
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