Tyson Foods (NYSE:TSN) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a report issued on Monday.

According to Zacks, “Tyson Foods is gaining from rising demand for protein packed offerings. In fact, during the first quarter of fiscal 2019, the Chicken and Beef categories continued to perform well. Moreover, the company expects net sales in fiscal 2019 to reach $43 million, primarily backed by growth in the Chicken unit. Additionally, the company is gaining from acquisitions. It recently announced a deal to acquire Thai and European operations of BRF S.A. The company also expects to gain from the buyout of Keystone. However, the stock has declined in the past three months and is witnessing lower sales volumes in the Pork and Prepared Foods categories. While the Pork category has been negatively impacted by adverse demand-supply conditions, the Prepared Foods segment was hurt by divestitures. Further, the company is experiencing input cost pressures. Also, it is exposed to volatility in prices and supply of livestock.”

Other analysts have also recently issued research reports about the company. Mizuho reaffirmed a “buy” rating and set a $82.00 target price on shares of Tyson Foods in a research report on Friday. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $60.00 price objective on shares of Tyson Foods in a research report on Tuesday, December 11th. ValuEngine cut Tyson Foods from a “sell” rating to a “strong sell” rating in a research report on Wednesday, November 28th. Pivotal Research restated a “sell” rating and issued a $40.00 target price on shares of Tyson Foods in a research note on Tuesday, November 13th. Finally, Standpoint Research began coverage on Tyson Foods in a research note on Tuesday, October 23rd. They issued a “buy” rating and a $74.00 target price for the company. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $70.93.

NYSE:TSN traded up $0.10 during midday trading on Monday, hitting $59.39. The stock had a trading volume of 117,067 shares, compared to its average volume of 2,700,632. Tyson Foods has a one year low of $49.77 and a one year high of $77.31. The stock has a market cap of $21.65 billion, a P/E ratio of 9.64, a price-to-earnings-growth ratio of 0.91 and a beta of 0.49. The company has a quick ratio of 0.34, a current ratio of 0.85 and a debt-to-equity ratio of 0.61.

Tyson Foods (NYSE:TSN) last announced its quarterly earnings data on Thursday, February 7th. The company reported $1.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.55 by $0.03. The company had revenue of $10.19 billion for the quarter, compared to analysts’ expectations of $10.33 billion. Tyson Foods had a return on equity of 17.25% and a net margin of 4.86%. Tyson Foods’s revenue was down .4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.81 earnings per share. On average, sell-side analysts anticipate that Tyson Foods will post 5.91 EPS for the current fiscal year.

In other Tyson Foods news, Director Gaurdie E. Jr. Banister purchased 6,897 shares of the business’s stock in a transaction that occurred on Thursday, December 6th. The stock was purchased at an average price of $58.01 per share, for a total transaction of $400,094.97. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Robert C. Thurber sold 500 shares of Tyson Foods stock in a transaction dated Monday, December 17th. The shares were sold at an average price of $54.45, for a total value of $27,225.00. The disclosure for this sale can be found here. 1.69% of the stock is owned by insiders.

Several institutional investors have recently made changes to their positions in the stock. FMR LLC boosted its holdings in Tyson Foods by 12.1% in the 2nd quarter. FMR LLC now owns 3,990,894 shares of the company’s stock worth $274,773,000 after buying an additional 430,422 shares during the last quarter. Advisors Asset Management Inc. boosted its holdings in Tyson Foods by 7.8% in the 2nd quarter. Advisors Asset Management Inc. now owns 14,646 shares of the company’s stock worth $1,008,000 after buying an additional 1,054 shares during the last quarter. Schroder Investment Management Group boosted its holdings in Tyson Foods by 8.8% in the 2nd quarter. Schroder Investment Management Group now owns 50,036 shares of the company’s stock worth $3,465,000 after buying an additional 4,041 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in Tyson Foods by 1.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,880,817 shares of the company’s stock worth $129,494,000 after buying an additional 28,750 shares during the last quarter. Finally, State of Alaska Department of Revenue boosted its holdings in Tyson Foods by 2.1% in the 3rd quarter. State of Alaska Department of Revenue now owns 68,645 shares of the company’s stock worth $4,085,000 after buying an additional 1,434 shares during the last quarter. Hedge funds and other institutional investors own 70.77% of the company’s stock.

Tyson Foods Company Profile

Tyson Foods, Inc, together with its subsidiaries, operates as a food company worldwide. It operates through four segments: Beef, Pork, Chicken, and Prepared Foods. The company processes live fed cattle and live market hogs; 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; and raises and processes chickens into fresh, frozen, and value-added chicken products.

Read More: Moving Average (MA)

Get a free copy of the Zacks research report on Tyson Foods (TSN)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Tyson Foods (NYSE:TSN)

Receive News & Ratings for Tyson Foods Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tyson Foods and related companies with MarketBeat.com's FREE daily email newsletter.