Tyson Foods (TSN) Lowered to “Hold” at Zacks Investment Research
Tyson Foods (NYSE:TSN) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a research report issued on Wednesday.
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.”
Other equities research analysts have also issued reports about the stock. Royal Bank Of Canada restated a “sector perform” rating and issued a $77.00 price objective (up from $70.00) on shares of Tyson Foods in a report on Friday, October 6th. Morgan Stanley started coverage on shares of Tyson Foods in a report on Friday, November 3rd. They issued an “equal weight” rating and a $76.00 price objective on the stock. Argus upgraded shares of Tyson Foods from a “hold” rating to a “buy” rating and set a $90.00 price objective on the stock in a report on Wednesday, November 15th. BidaskClub lowered shares of Tyson Foods from a “buy” rating to a “hold” rating in a report on Saturday, August 26th. Finally, BMO Capital Markets restated an “outperform” rating and issued a $78.00 price objective (up from $75.00) on shares of Tyson Foods in a report on Thursday, August 10th. Eight research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $73.71.
Tyson Foods (NYSE:TSN) last issued its quarterly earnings results on Monday, November 13th. The company reported $1.43 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.38 by $0.05. Tyson Foods had a net margin of 4.64% and a return on equity of 19.64%. The company had revenue of $10.15 billion during the quarter, compared to analysts’ expectations of $9.93 billion. During the same quarter last year, the company posted $0.96 EPS. The firm’s revenue was up 10.8% compared to the same quarter last year. equities research analysts forecast that Tyson Foods will post 5.81 earnings per share for the current fiscal year.
In other Tyson Foods news, CFO Dennis Leatherby sold 115,293 shares of Tyson Foods stock in a transaction on Thursday, November 30th. The shares were sold at an average price of $82.09, for a total value of $9,464,402.37. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, SVP Curt Calaway sold 21,200 shares of Tyson Foods stock in a transaction on Monday, November 27th. The shares were sold at an average price of $81.01, for a total transaction of $1,717,412.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 154,485 shares of company stock worth $12,626,308. 2.65% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of TSN. Beacon Capital Management acquired a new position in shares of Tyson Foods in the fourth quarter valued at approximately $0. Washington Trust Bank raised its position 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 valued at $107,000 after buying an additional 31 shares during the last quarter. Evercore Wealth Management LLC raised its position 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 valued at $119,000 after buying an additional 323 shares during the last quarter. Financial Architects Inc increased its position in Tyson Foods by 1,101.3% during the second quarter. Financial Architects Inc now owns 1,838 shares of the company’s stock worth $122,000 after purchasing an additional 1,685 shares during the last quarter. Finally, IFP Advisors Inc increased its position in Tyson Foods by 22.6% during the first quarter. IFP Advisors Inc now owns 1,945 shares of the company’s stock worth $130,000 after purchasing an additional 359 shares during the last quarter. Institutional investors own 71.57% of the company’s stock.
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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