Tyson Foods Inc. (TSN) Cut to “Sell” at JPMorgan Chase & Co.
TSN has been the topic of a number of other reports. Pivotal Research restated a buy rating and issued a $100.00 price target on shares of Tyson Foods in a research report on Wednesday, August 10th. Zacks Investment Research upgraded shares of Tyson Foods from a hold rating to a buy rating and set a $83.00 price target on the stock in a research report on Tuesday, August 9th. Vetr downgraded shares of Tyson Foods from a strong-buy rating to a buy rating and set a $69.00 price target on the stock. in a research report on Wednesday, June 22nd. Jefferies Group raised their price target on shares of Tyson Foods from $78.00 to $80.00 and gave the stock a buy rating in a research report on Wednesday, July 27th. Finally, BMO Capital Markets restated a market perform rating and issued a $77.00 price target on shares of Tyson Foods in a research report on Thursday, August 11th. Three research analysts have rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the stock. The stock presently has an average rating of Hold and an average target price of $68.42.
Tyson Foods (NYSE:TSN) opened at 71.58 on Wednesday. The firm has a market capitalization of $27.35 billion, a price-to-earnings ratio of 17.40 and a beta of 0.26. Tyson Foods has a 12 month low of $42.89 and a 12 month high of $77.05. The firm’s 50-day moving average is $74.17 and its 200 day moving average is $69.27.
Tyson Foods (NYSE:TSN) last posted its quarterly earnings data on Monday, August 8th. The company reported $1.21 EPS for the quarter, beating the Zacks’ consensus estimate of $1.06 by $0.15. Tyson Foods had a net margin of 4.28% and a return on equity of 17.29%. The firm had revenue of $9.40 billion for the quarter, compared to the consensus estimate of $9.32 billion. During the same period in the prior year, the firm posted $0.80 EPS. The firm’s revenue was down 6.6% compared to the same quarter last year. Equities analysts predict that Tyson Foods will post $4.53 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 15th. Stockholders of record on Thursday, December 1st will be paid a $0.15 dividend. The ex-dividend date of this dividend is Tuesday, November 29th. This represents a $0.60 annualized dividend and a dividend yield of 0.84%. Tyson Foods’s dividend payout ratio is currently 14.53%.
In other news, EVP Bebber David L. Van sold 70,000 shares of Tyson Foods stock in a transaction that occurred on Friday, August 12th. The shares were sold at an average price of $75.00, for a total value of $5,250,000.00. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Donald Smith sold 38,006 shares of Tyson Foods stock in a transaction that occurred on Monday, August 15th. The stock was sold at an average price of $75.20, for a total transaction of $2,858,051.20. The disclosure for this sale can be found here. 2.69% of the stock is currently owned by insiders.
Several institutional investors have recently made changes to their positions in TSN. UBS Asset Management Americas Inc. boosted its position in shares of Tyson Foods by 12.5% in the first quarter. UBS Asset Management Americas Inc. now owns 881,512 shares of the company’s stock valued at $58,762,000 after buying an additional 97,819 shares in the last quarter. Primecap Management Co. CA increased its position in Tyson Foods by 1.0% in the first quarter. Primecap Management Co. CA now owns 1,656,100 shares of the company’s stock valued at $110,396,000 after buying an additional 16,100 shares during the period. Lazard Asset Management LLC increased its position in Tyson Foods by 307.9% in the first quarter. Lazard Asset Management LLC now owns 249,910 shares of the company’s stock valued at $16,658,000 after buying an additional 188,638 shares during the period. Meeder Asset Management Inc. purchased a new position in Tyson Foods during the first quarter valued at $3,248,000. Finally, State Street Corp increased its position in Tyson Foods by 5.3% in the first quarter. State Street Corp now owns 12,852,492 shares of the company’s stock valued at $856,748,000 after buying an additional 647,431 shares during the period. 74.12% of the stock is currently owned by institutional investors.
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.
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