BMO Capital Markets Upgrades Tyson Foods Inc. (TSN) to Outperform
Tyson Foods Inc. (NYSE:TSN) was upgraded by analysts at BMO Capital Markets from a “market perform” rating to an “outperform” rating in a report released on Tuesday. The brokerage currently has a $84.00 price target on the stock, up from their prior price target of $70.50. BMO Capital Markets’ price objective points to a potential upside of 19.15% from the company’s previous close.
Other equities research analysts have also recently issued research reports about the company. Pivotal Research reissued a “buy” rating and set a $100.00 target price on shares of Tyson Foods in a report on Wednesday, August 10th. Zacks Investment Research raised Tyson Foods from a “hold” rating to a “buy” rating and set a $83.00 target price on the stock in a report on Tuesday, August 9th. Vetr cut Tyson Foods from a “strong-buy” rating to a “buy” rating and set a $69.00 target price on the stock. in a report on Wednesday, June 22nd. Jefferies Group boosted their target price on Tyson Foods from $78.00 to $80.00 and gave the stock a “buy” rating in a report on Wednesday, July 27th. Finally, JPMorgan Chase & Co. reissued a “focus list” rating on shares of Tyson Foods in a report on Tuesday, October 4th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Buy” and an average target price of $67.88.
Tyson Foods (NYSE:TSN) traded up 1.21% during midday trading on Tuesday, hitting $71.35. The stock had a trading volume of 721,213 shares. Tyson Foods has a one year low of $42.89 and a one year high of $77.05. The firm has a 50 day moving average price of $74.59 and a 200 day moving average price of $69.19. The stock has a market cap of $27.26 billion, a PE ratio of 17.35 and a beta of 0.26.
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Tyson Foods (NYSE:TSN) last announced its earnings results on Monday, August 8th. The company reported $1.21 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.06 by $0.15. Tyson Foods had a return on equity of 17.29% and a net margin of 4.28%. The firm had revenue of $9.40 billion for the quarter, compared to analysts’ expectations of $9.32 billion. During the same quarter in the previous year, the company earned $0.80 earnings per share. The firm’s quarterly revenue was down 6.6% compared to the same quarter last year. Equities analysts expect that Tyson Foods will post $4.53 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, December 15th. Stockholders of record on Thursday, December 1st will be issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 0.85%. The ex-dividend date is Tuesday, November 29th. Tyson Foods’s dividend payout ratio is currently 14.53%.
In other news, insider Noel W. White sold 74,934 shares of the business’s stock in a transaction on Friday, August 26th. The shares were sold at an average price of $75.44, for a total transaction of $5,653,020.96. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Robert C. Thurber sold 4,500 shares of the business’s stock in a transaction on Friday, August 12th. The shares were sold at an average price of $74.93, for a total transaction of $337,185.00. The disclosure for this sale can be found here. Insiders own 2.69% of the company’s stock.
Institutional investors have recently bought and sold shares of the stock. Washington Trust Bank boosted its stake in shares of Tyson Foods by 2.2% in the third quarter. Washington Trust Bank now owns 1,431 shares of the company’s stock worth $107,000 after buying an additional 31 shares in the last quarter. Evercore Wealth Management LLC boosted its stake in shares of Tyson Foods by 22.2% in the second quarter. Evercore Wealth Management LLC now owns 1,775 shares of the company’s stock worth $119,000 after buying an additional 323 shares in the last quarter. Financial Architects Inc boosted its stake in shares of Tyson Foods by 1,101.3% in the second quarter. Financial Architects Inc now owns 1,838 shares of the company’s stock worth $122,000 after buying an additional 1,685 shares in the last quarter. IFP Advisors Inc boosted its stake in shares of Tyson Foods by 22.6% in the first quarter. IFP Advisors Inc now owns 1,945 shares of the company’s stock worth $130,000 after buying an additional 359 shares in the last quarter. Finally, Kernodle & Katon Asset Management Group LLC acquired a new stake in shares of Tyson Foods during the second quarter worth about $156,000. Institutional investors and hedge funds own 74.07% of the company’s stock.
Tyson Foods Company Profile
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.
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