Tyson Foods, Inc. (NYSE:TSN)’s share price shot up 5.7% on Monday following a stronger than expected earnings report. The stock traded as high as $67.73 and last traded at $66.90, with a volume of 7,090,967 shares changing hands. The stock had previously closed at $63.30.
The company reported $1.28 EPS for the quarter, beating analysts’ consensus estimates of $1.18 by $0.10. The company had revenue of $9.85 billion for the quarter, compared to analyst estimates of $9.49 billion. Tyson Foods had a net margin of 4.75% and a return on equity of 18.44%. Tyson Foods’s quarterly revenue was up 4.8% on a year-over-year basis. During the same period in the previous year, the business posted $1.21 earnings per share.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Friday, December 1st will be paid a $0.225 dividend. The ex-dividend date of this dividend is Thursday, November 30th. This represents a $0.90 dividend on an annualized basis and a yield of 1.38%. Tyson Foods’s dividend payout ratio is presently 18.95%.
A number of research firms have commented on TSN. Credit Suisse Group set a $70.00 price objective on shares of Tyson Foods and gave the company a “neutral” rating in a research note on Tuesday, August 8th. Pivotal Research reiterated a “sell” rating and set a $40.00 price target on shares of Tyson Foods in a research note on Tuesday, August 8th. Royal Bank Of Canada boosted their price target on shares of Tyson Foods from $68.00 to $70.00 and gave the stock a “sector perform” rating in a research note on Tuesday, August 8th. BidaskClub upgraded shares of Tyson Foods from a “hold” rating to a “buy” rating in a research note on Monday, August 14th. Finally, Fundamental Research reiterated a “buy” rating on shares of Tyson Foods in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $69.79.
In other Tyson Foods news, Director Mikel A. Durham purchased 2,809 shares of Tyson Foods stock in a transaction on Monday, August 14th. The shares were bought at an average price of $65.77 per share, with a total value of $184,747.93. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Dennis Leatherby sold 145,100 shares of the business’s stock in a transaction that occurred on Monday, August 14th. The shares were sold at an average price of $65.97, for a total transaction of $9,572,247.00. The disclosure for this sale can be found here. 2.65% of the stock is owned by corporate insiders.
Several institutional investors have recently bought and sold shares of TSN. Sun Life Financial INC raised its position in Tyson Foods by 21,000.0% in the second quarter. Sun Life Financial INC now owns 2,110 shares of the company’s stock worth $132,000 after buying an additional 2,100 shares in the last quarter. IFP Advisors Inc raised its position in Tyson Foods by 9.4% in the first quarter. IFP Advisors Inc now owns 2,111 shares of the company’s stock worth $130,000 after buying an additional 182 shares in the last quarter. Washington Trust Bank raised its position in Tyson Foods by 60.0% in the second quarter. Washington Trust Bank now owns 2,240 shares of the company’s stock worth $140,000 after buying an additional 840 shares in the last quarter. Independent Portfolio Consultants Inc. raised its position in Tyson Foods by 146.7% in the second quarter. Independent Portfolio Consultants Inc. now owns 2,282 shares of the company’s stock worth $143,000 after buying an additional 1,357 shares in the last quarter. Finally, IHT Wealth Management LLC raised its position in Tyson Foods by 62.9% in the first quarter. IHT Wealth Management LLC now owns 2,850 shares of the company’s stock worth $177,000 after buying an additional 1,100 shares in the last quarter. 71.05% of the stock is owned by institutional investors and hedge funds.
The stock has a market capitalization of $23.90 billion, a price-to-earnings ratio of 13.73 and a beta of 0.26. The firm’s 50-day moving average price is $62.81 and its 200-day moving average price is $62.27.
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Tyson Foods Company Profile
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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