Zacks Investment Research Downgrades Tyson Foods, Inc. (TSN) to Hold
Tyson Foods, Inc. (NYSE:TSN) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a note issued to investors on Monday.
According to Zacks, “Tyson Foods’ shares have been underperforming the broader industry over the past six months. While the company’s growth is mainly driven by acquisitions, increased demand of chicken and strong focus in protein packed brands, stressed margins owing to rising costs and higher wages remain its woes. We note that Tyson Foods’ margins remains exposed to rising operational costs as a result of increasing investments to improve supply and higher wage costs. Nevertheless, the acquisition of AdvancePierre, divestment of non-protein businesses, focus on growth categories and channels and the recent investment in the poultry plant are in-line with the company’s strategy to expand its protein-packed brands. The company’s recent upbeat third-quarter fiscal 2017 results also benefitted from the strong performance of its segments, improved availability of cattle supply and higher exports.”
Several other equities analysts have also weighed in on TSN. BMO Capital Markets restated an “outperform” rating and set a $78.00 price target (up previously from $75.00) on shares of Tyson Foods in a research report on Thursday, August 10th. Pivotal Research restated a “sell” rating and set a $40.00 price target on shares of Tyson Foods in a research report on Tuesday, August 8th. Royal Bank Of Canada increased their price target on shares of Tyson Foods from $68.00 to $70.00 and gave the company a “sector perform” rating in a research report on Tuesday, August 8th. Mizuho restated a “buy” rating and set a $76.00 price target (up previously from $71.00) on shares of Tyson Foods in a research report on Wednesday, August 9th. Finally, BidaskClub upgraded shares of Tyson Foods from a “hold” rating to a “buy” rating in a research report on Monday, August 14th. One analyst has rated the stock with a sell rating, seven have given a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $69.79.
Shares of Tyson Foods (NYSE TSN) opened at 62.18 on Monday. The firm has a market cap of $22.81 billion, a price-to-earnings ratio of 13.11 and a beta of 0.26. The company has a 50 day moving average of $63.14 and a 200 day moving average of $62.28. Tyson Foods has a 1-year low of $55.72 and a 1-year high of $77.05.
Tyson Foods (NYSE:TSN) last posted 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 during the quarter, compared to analyst estimates of $9.49 billion. Tyson Foods had a net margin of 4.75% and a return on equity of 18.44%. The firm’s revenue for the quarter was up 4.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.21 earnings per share. On average, equities analysts forecast that Tyson Foods will post $5.06 earnings per share for the current fiscal year.
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In related news, CFO Dennis Leatherby sold 145,100 shares of the firm’s stock in a transaction that occurred on 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 filing with the SEC, which is available through this link. Also, Director Mikel A. Durham bought 2,809 shares of the stock in a transaction that occurred on Monday, August 14th. The stock was bought at an average cost 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.
Large investors have recently made changes to their positions in the stock. IFP Advisors Inc increased its stake in shares of Tyson Foods by 9.4% in the first quarter. IFP Advisors Inc now owns 2,111 shares of the company’s stock worth $130,000 after buying an additional 182 shares in the last quarter. Sun Life Financial INC increased its stake in shares of Tyson Foods by 21,000.0% in the second quarter. Sun Life Financial INC now owns 2,110 shares of the company’s stock worth $132,000 after buying an additional 2,100 shares in the last quarter. Washington Trust Bank increased its stake in shares of Tyson Foods by 60.0% in the second quarter. Washington Trust Bank now owns 2,240 shares of the company’s stock worth $140,000 after buying an additional 840 shares in the last quarter. Independent Portfolio Consultants Inc. increased its stake in shares of Tyson Foods by 146.7% in the second quarter. Independent Portfolio Consultants Inc. now owns 2,282 shares of the company’s stock worth $143,000 after buying an additional 1,357 shares in the last quarter. Finally, Archford Capital Strategies LLC increased its stake in shares of Tyson Foods by 27,492.3% in the second quarter. Archford Capital Strategies LLC now owns 3,587 shares of the company’s stock worth $149,000 after buying an additional 3,574 shares in the last quarter. 70.83% of the stock is currently owned by institutional investors and hedge funds.
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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