Zacks Investment Research upgraded shares of Tyson Foods (NYSE:TSN) from a hold rating to a buy rating in a research note released on Saturday. 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.”
TSN has been the topic of several other research reports. ValuEngine upgraded shares of Tyson Foods from a hold rating to a buy rating in a report on Monday, November 20th. upgraded 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 report on Wednesday, November 15th. BMO Capital Markets lifted their target price on shares of Tyson Foods to $89.00 and gave the company an outperform rating in a research report on Tuesday, November 14th. Piper Jaffray Companies began coverage on shares of Tyson Foods in a research report on Thursday, January 4th. They set an overweight rating and a $94.00 target price on the stock. Finally, Pivotal Research upgraded 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 report on Monday, November 13th. Seven investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. Tyson Foods has a consensus rating of Buy and an average target price of $75.67.
Tyson Foods (NYSE:TSN) last announced its earnings results on Monday, November 13th. The company reported $1.43 EPS for the quarter, topping the consensus estimate of $1.38 by $0.05. The firm had revenue of $10.15 billion for the quarter, compared to the consensus estimate of $9.93 billion. Tyson Foods had a net margin of 4.64% and a return on equity of 19.64%. The business’s quarterly revenue was up 10.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.96 EPS. sell-side analysts forecast that Tyson Foods will post 5.82 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, March 15th. Shareholders of record on Thursday, March 1st will be paid a $0.30 dividend. The ex-dividend date of this dividend is Wednesday, February 28th. This is an increase from Tyson Foods’s previous quarterly dividend of $0.23. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.48%. Tyson Foods’s payout ratio is currently 25.05%.
In other Tyson Foods news, General Counsel Bebber David L. Van sold 164,348 shares of the business’s stock in a transaction dated Wednesday, December 6th. The shares were sold at an average price of $83.26, for a total value of $13,683,614.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Scott Rouse sold 1,000 shares of the business’s stock in a transaction dated Thursday, November 16th. The stock was sold at an average price of $77.26, for a total transaction of $77,260.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 397,342 shares of company stock valued at $32,702,254. Insiders own 1.55% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in TSN. Janus Henderson Group PLC raised its stake in shares of Tyson Foods by 6,356.6% in the second quarter. Janus Henderson Group PLC now owns 2,478,942 shares of the company’s stock worth $155,256,000 after acquiring an additional 2,440,548 shares during the last quarter. Iridian Asset Management LLC CT raised its stake in shares of Tyson Foods by 64.4% during the third quarter. Iridian Asset Management LLC CT now owns 4,833,048 shares of the company’s stock worth $340,488,000 after buying an additional 1,893,438 shares during the last quarter. FMR LLC raised its stake in shares of Tyson Foods by 155.4% during the second quarter. FMR LLC now owns 2,010,522 shares of the company’s stock worth $125,920,000 after buying an additional 1,223,351 shares during the last quarter. Ameriprise Financial Inc. raised its stake in shares of Tyson Foods by 12.5% during the third quarter. Ameriprise Financial Inc. now owns 8,823,121 shares of the company’s stock worth $621,587,000 after buying an additional 980,069 shares during the last quarter. Finally, Vanguard Group Inc. raised its stake in shares of Tyson Foods by 3.7% during the second quarter. Vanguard Group Inc. now owns 24,978,429 shares of the company’s stock worth $1,564,398,000 after buying an additional 900,009 shares during the last quarter. 71.13% of the stock is owned by institutional investors.
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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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