Tyson Foods (TSN) Stock Rating Upgraded by Zacks Investment Research
Zacks Investment Research upgraded shares of Tyson Foods (NYSE:TSN) from a hold rating to a buy rating in a research note issued to investors on Saturday morning. Zacks Investment Research currently has $89.00 price objective on the stock.
According to Zacks, “Tyson Foods has surpassed the industry in the past six months owing to strong performance in all business segments, particularly Chicken and Beef. The prepared foods category has also been depicting solid growth, courtesy of rising demand for protein-packed brands and synergies from the AdvancePierre’s buyout. Apart from this, divestment of non-protein businesses and poultry production expansion efforts signify the company’s focus on strengthening protein-packed brands portfolio. Notably, Tyson Foods’ growth drivers fueled results in fourth-quarter fiscal 2017, wherein both top and bottom lines grew year over year and topped estimates. The solid results also encouraged management to issue a favorable view However, the company remains exposed to the risk of raw materials price volatility. Also, stiff competition and intense promotions remain headwinds. Rising wage costs also pose threats to Tyson Foods’ operating results.”
A number of other research firms have also weighed in on TSN. ValuEngine upgraded Tyson Foods from a hold rating to a buy rating in a report on Monday, November 20th. raised shares of Tyson Foods from a sell rating to a hold rating and set a $75.00 target price on the stock in a research note on Wednesday, November 15th. BMO Capital Markets raised their target price on shares of Tyson Foods to $89.00 and gave the stock an outperform rating in a research note on Tuesday, November 14th. Piper Jaffray Companies began coverage on shares of Tyson Foods in a research note on Thursday, January 4th. They issued an overweight rating and a $94.00 target price on the stock. Finally, Pivotal Research raised shares of Tyson Foods from a sell rating to a hold rating and set a $75.00 target price on the stock in a research note on Monday, November 13th. Seven investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. Tyson Foods currently has a consensus rating of Buy and a consensus price target of $75.67.
Tyson Foods (NYSE:TSN) last posted its earnings results on Monday, November 13th. The company reported $1.43 EPS for the quarter, topping the Zacks’ consensus estimate of $1.38 by $0.05. The business had revenue of $10.15 billion during the quarter, compared to analyst estimates of $9.93 billion. Tyson Foods had a return on equity of 19.64% and a net margin of 4.64%. The company’s quarterly revenue was up 10.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.96 EPS. research analysts expect that Tyson Foods will post 5.82 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, March 15th. Stockholders of record on Thursday, March 1st will be issued a dividend of $0.30 per share. The ex-dividend date is Wednesday, February 28th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.50%. This is an increase from Tyson Foods’s previous quarterly dividend of $0.23. Tyson Foods’s dividend payout ratio (DPR) is currently 25.05%.
In other news, General Counsel Bebber David L. Van sold 164,348 shares of the firm’s stock in a transaction that occurred on Wednesday, December 6th. The shares were sold at an average price of $83.26, for a total transaction of $13,683,614.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Thomas P. Hayes sold 53,874 shares of the firm’s stock in a transaction that occurred on Tuesday, December 19th. The stock was sold at an average price of $81.63, for a total transaction of $4,397,734.62. The disclosure for this sale can be found here. Insiders have sold a total of 397,342 shares of company stock valued at $32,702,254 in the last 90 days. Insiders own 2.65% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Tyson Foods by 106.2% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 28,044 shares of the company’s stock worth $2,241,000 after buying an additional 14,442 shares during the last quarter. State of Alaska Department of Revenue lifted its stake in Tyson Foods by 38.2% in the fourth quarter. State of Alaska Department of Revenue now owns 54,621 shares of the company’s stock valued at $4,426,000 after acquiring an additional 15,090 shares during the last quarter. Oakbrook Investments LLC lifted its stake in Tyson Foods by 425.6% in the fourth quarter. Oakbrook Investments LLC now owns 22,600 shares of the company’s stock valued at $1,832,000 after acquiring an additional 18,300 shares during the last quarter. Fox Run Management L.L.C. lifted its stake in Tyson Foods by 63.4% in the fourth quarter. Fox Run Management L.L.C. now owns 9,639 shares of the company’s stock valued at $781,000 after acquiring an additional 3,739 shares during the last quarter. Finally, Acadian Asset Management LLC lifted its stake in Tyson Foods by 792.6% in the fourth quarter. Acadian Asset Management LLC now owns 8,837 shares of the company’s stock valued at $717,000 after acquiring an additional 7,847 shares during the last quarter. Institutional investors and hedge funds own 71.33% of the company’s stock.
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About Tyson Foods
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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