Tyson Foods, Inc. (TSN) Upgraded at Zacks Investment Research
Tyson Foods, Inc. (NYSE:TSN) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a research report issued on Wednesday. The firm currently has a $82.00 price objective on the stock. Zacks Investment Research‘s target price points to a potential upside of 14.94% from the company’s current price.
According to Zacks, “Shares of Tyson Foods’ have outperformed the industry in the past one month owing to its recently raised earnings guidance for fiscal 2017, backed by the consistent growth in its beef segment. Notably the Beef segment that had been sluggish in the past is now benefiting from robust domestic demand, improved availability of cattle supply and higher exports. Strong volume growth has also been observed across the company’s Pork and Chicken segments. Acquisitions related synergies, increased demand for chicken and strong focus on protein packed brands have also acted as growth drivers for Tyson Foods. Also, the acquisition of AdvancePierre, divestment of non-protein businesses, and the recent investments in expanding its poultry plants are in-line with the company’s strategy to improve its protein-packed brands portfolio. However, stressed margins owing to rising costs and higher wages remain its woes.”
A number of other equities analysts also recently issued reports on the company. BidaskClub raised Tyson Foods from a “hold” rating to a “buy” rating in a research report on Friday, June 16th. BMO Capital Markets reaffirmed a “buy” rating and issued a $75.00 price objective on shares of Tyson Foods in a research report on Thursday, June 15th. Vertical Research raised shares of Tyson Foods from a “hold” rating to a “buy” rating in a report on Tuesday, June 13th. Mizuho assumed coverage on Tyson Foods in a research note on Wednesday, June 7th. They set a “buy” rating and a $71.00 target price on the stock. Finally, Jefferies Group LLC restated a “buy” rating and set a $75.00 price objective on shares of Tyson Foods in a report on Thursday, July 27th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, eight have given a buy rating and two have given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $72.38.
Shares of Tyson Foods (NYSE:TSN) traded up 0.385% on Wednesday, reaching $71.615. 1,734,139 shares of the company traded hands. The stock has a 50-day moving average price of $65.55 and a 200 day moving average price of $62.69. Tyson Foods has a 1-year low of $55.72 and a 1-year high of $74.65. The firm has a market capitalization of $26.28 billion, a P/E ratio of 15.099 and a beta of 0.28.
Tyson Foods (NYSE:TSN) last released its quarterly earnings results on Monday, August 7th. The company reported $1.28 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate 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 return on equity of 18.44% and a net margin of 4.75%. Tyson Foods’s quarterly revenue was up 4.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.21 EPS. Analysts anticipate that Tyson Foods will post $5.15 EPS for the current fiscal year.
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In other news, CFO Dennis Leatherby sold 145,100 shares of Tyson Foods stock in a transaction dated Monday, August 14th. The shares were sold at an average price of $65.97, for a total value of $9,572,247.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Mikel A. Durham bought 2,809 shares of the company’s stock in a transaction dated Monday, August 14th. The stock was bought at an average price of $65.77 per share, for a total transaction of $184,747.93. The disclosure for this purchase can be found here. Corporate insiders own 2.65% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of TSN. Vanguard Group Inc. lifted its holdings in Tyson Foods by 4.8% in the 2nd quarter. Vanguard Group Inc. now owns 28,226,216 shares of the company’s stock valued at $1,885,228,000 after purchasing an additional 1,298,587 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in Tyson Foods by 50.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 21,410,369 shares of the company’s stock worth $1,141,815,000 after purchasing an additional 7,217,280 shares during the last quarter. BlackRock Inc. boosted its stake in Tyson Foods by 0.7% during the 2nd quarter. BlackRock Inc. now owns 19,191,662 shares of the company’s stock worth $1,201,973,000 after purchasing an additional 136,071 shares during the last quarter. State Street Corp boosted its stake in Tyson Foods by 0.9% during the 1st quarter. State Street Corp now owns 14,004,153 shares of the company’s stock worth $864,191,000 after purchasing an additional 120,056 shares during the last quarter. Finally, Iridian Asset Management LLC CT boosted its stake in Tyson Foods by 46.9% during the 4th quarter. Iridian Asset Management LLC CT now owns 9,559,872 shares of the company’s stock worth $509,828,000 after purchasing an additional 3,051,656 shares during the last quarter. Hedge funds and other institutional investors own 71.89% of the company’s stock.
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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