Tyson Foods, Inc. (TSN) Receives New Coverage from Analysts at Morgan Stanley
Morgan Stanley started coverage on shares of Tyson Foods, Inc. (NYSE:TSN) in a research report report published on Friday morning. The brokerage issued an equal weight rating and a $76.00 price target on the stock.
A number of other equities research analysts also recently weighed in on TSN. Mizuho reaffirmed a buy rating and set a $71.00 price objective on shares of Tyson Foods in a research report on Monday, July 10th. Pivotal Research reaffirmed a sell rating and set a $40.00 price objective on shares of Tyson Foods in a research report on Wednesday, July 12th. BidaskClub downgraded shares of Tyson Foods from a hold rating to a sell rating in a research report on Wednesday, July 12th. Zacks Investment Research raised shares of Tyson Foods from a hold rating to a buy rating and set a $66.00 price objective for the company in a research report on Thursday, July 13th. Finally, Credit Suisse Group initiated coverage on shares of Tyson Foods in a research report on Wednesday, July 19th. They set a neutral rating and a $65.00 price objective for the company. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the stock. Tyson Foods currently has a consensus rating of Buy and a consensus target price of $74.35.
Shares of Tyson Foods (NYSE:TSN) traded down $0.51 during trading hours on Friday, hitting $72.80. 2,712,237 shares of the company were exchanged, compared to its average volume of 2,050,000. The company has a current ratio of 1.63, a quick ratio of 0.79 and a debt-to-equity ratio of 0.97. Tyson Foods has a twelve month low of $55.72 and a twelve month high of $73.66. The company has a market cap of $26.16 billion, a P/E ratio of 15.11 and a beta of 0.30.
Tyson Foods (NYSE:TSN) last announced its quarterly earnings data on Monday, August 7th. The company reported $1.28 earnings per share for the quarter, beating analysts’ consensus estimates of $1.18 by $0.10. Tyson Foods had a net margin of 4.75% and a return on equity of 18.44%. The business had revenue of $9.85 billion during the quarter, compared to the consensus estimate of $9.49 billion. During the same quarter in the prior year, the firm earned $1.21 EPS. The company’s revenue for the quarter was up 4.8% compared to the same quarter last year. analysts expect that Tyson Foods will post 5.25 earnings per share for the current fiscal year.
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The business also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Friday, December 1st will be paid a $0.225 dividend. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.24%. The ex-dividend date of this dividend is Thursday, November 30th. Tyson Foods’s dividend payout ratio is currently 18.95%.
In related news, Director Mikel A. Durham purchased 2,809 shares of Tyson Foods stock in a transaction dated Monday, August 14th. The stock was bought at an average cost of $65.77 per share, with a total value of $184,747.93. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Dennis Leatherby sold 145,100 shares of the company’s stock in a transaction that occurred on Monday, August 14th. The stock was sold at an average price of $65.97, for a total transaction of $9,572,247.00. The disclosure for this sale can be found here. Corporate insiders own 2.65% of the company’s stock.
Large investors have recently modified their holdings of the company. Koch Industries Inc. lifted its stake in shares of Tyson Foods by 13,862.2% in the 2nd quarter. Koch Industries Inc. now owns 776,858 shares of the company’s stock worth $765,000 after acquiring an additional 771,294 shares during the period. Assenagon Asset Management S.A. lifted its stake in shares of Tyson Foods by 2,014.3% in the 3rd quarter. Assenagon Asset Management S.A. now owns 319,534 shares of the company’s stock worth $22,511,000 after acquiring an additional 304,421 shares during the period. BT Investment Management Ltd acquired a new stake in shares of Tyson Foods in the 2nd quarter worth approximately $15,974,000. Advisors Capital Management LLC lifted its stake in shares of Tyson Foods by 5.8% in the 2nd quarter. Advisors Capital Management LLC now owns 34,912 shares of the company’s stock worth $2,187,000 after acquiring an additional 1,918 shares during the period. Finally, Cullen Frost Bankers Inc. acquired a new stake in shares of Tyson Foods in the 2nd quarter worth approximately $7,990,000. 70.97% of the stock is owned by institutional investors.
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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