Tyson Foods Inc. (TSN) Cut to “Sell” at Pivotal Research
Tyson Foods Inc. (NYSE:TSN) was downgraded by investment analysts at Pivotal Research from a “buy” rating to a “sell” rating in a research note issued to investors on Friday. They presently have a $40.00 price target on the stock, down from their previous price target of $100.00. Pivotal Research’s price objective indicates a potential downside of 40.96% from the stock’s current price.
Several other equities research analysts also recently issued reports on TSN. Vetr downgraded shares of Tyson Foods from a “strong-buy” rating to a “buy” rating and set a $69.00 price objective for the company. in a research report on Wednesday, June 22nd. Zacks Investment Research downgraded shares of Tyson Foods from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 12th. Jefferies Group raised their price objective on shares of Tyson Foods from $70.00 to $78.00 and gave the stock a “buy” rating in a research report on Friday, July 15th. Credit Agricole SA raised their price objective on shares of Tyson Foods from $77.00 to $82.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 2nd. Finally, RBC Capital Markets restated a “sector perform” rating and set a $72.00 price objective (up from $68.00) on shares of Tyson Foods in a research report on Friday, August 5th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $67.93.
Shares of Tyson Foods (NYSE:TSN) traded down 8.91% on Friday, hitting $67.75. The stock had a trading volume of 19,872,287 shares. Tyson Foods has a 12-month low of $42.89 and a 12-month high of $77.05. The firm has a market capitalization of $25.88 billion, a P/E ratio of 16.47 and a beta of 0.26. The company has a 50 day moving average of $74.92 and a 200-day moving average of $69.13.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at https://www.americanbankingnews.com/2016/10/07/tyson-foods-inc-tsn-cut-to-sell-at-pivotal-research.html
Tyson Foods (NYSE:TSN) last issued its quarterly earnings data on Monday, August 8th. The company reported $1.21 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.06 by $0.15. The firm earned $9.40 billion during the quarter, compared to the consensus estimate of $9.32 billion. Tyson Foods had a net margin of 4.28% and a return on equity of 17.29%. The business’s revenue for the quarter was down 6.6% compared to the same quarter last year. During the same period last year, the business posted $0.80 earnings per share. Equities analysts predict that Tyson Foods will post $4.53 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, December 15th. Shareholders of record on Thursday, December 1st will be given a $0.15 dividend. The ex-dividend date is Tuesday, November 29th. This represents a $0.60 dividend on an annualized basis and a yield of 0.89%. Tyson Foods’s dividend payout ratio is currently 14.53%.
In other Tyson Foods news, Director Robert C. Thurber sold 4,500 shares of the firm’s stock in a transaction that occurred on Friday, August 12th. The shares were sold at an average price of $74.93, for a total value of $337,185.00. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Curt Calaway sold 21,200 shares of the firm’s stock in a transaction that occurred on Thursday, August 11th. The shares were sold at an average price of $74.79, for a total transaction of $1,585,548.00. The disclosure for this sale can be found here. 2.69% of the stock is currently owned by company insiders.
A number of hedge funds have recently modified their holdings of TSN. Bank of Montreal Can bought a new stake in shares of Tyson Foods during the second quarter worth $169,614,000. Candriam Luxembourg S.C.A. raised its position in shares of Tyson Foods by 20.6% in the second quarter. Candriam Luxembourg S.C.A. now owns 17,945 shares of the company’s stock worth $1,199,000 after buying an additional 3,066 shares during the period. AMP Capital Investors Ltd raised its position in shares of Tyson Foods by 124.3% in the first quarter. AMP Capital Investors Ltd now owns 403,535 shares of the company’s stock worth $27,263,000 after buying an additional 223,636 shares during the period. Boston Advisors LLC raised its position in shares of Tyson Foods by 986.6% in the second quarter. Boston Advisors LLC now owns 301,645 shares of the company’s stock worth $20,147,000 after buying an additional 273,885 shares during the period. Finally, Nuveen Asset Management LLC raised its position in shares of Tyson Foods by 38.4% in the first quarter. Nuveen Asset Management LLC now owns 405,110 shares of the company’s stock worth $27,005,000 after buying an additional 112,404 shares during the period. Hedge funds and other institutional investors own 74.07% of the company’s stock.
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.
Receive News & Ratings for Tyson Foods Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tyson Foods Inc. and related companies with MarketBeat.com's FREE daily email newsletter.