Tyson Foods (NYSE:TSN – Get Free Report) was downgraded by Zacks Research from a “hold” rating to a “strong sell” rating in a report released on Thursday,Zacks.com reports.
A number of other research firms have also commented on TSN. Sanford C. Bernstein lowered their price target on shares of Tyson Foods from $72.00 to $63.00 and set a “market perform” rating for the company in a report on Thursday, July 2nd. Weiss Ratings lowered shares of Tyson Foods from a “hold (c+)” rating to a “hold (c)” rating in a report on Thursday, July 9th. BMO Capital Markets restated an “outperform” rating on shares of Tyson Foods in a research report on Tuesday, May 5th. HSBC dropped their target price on shares of Tyson Foods from $74.00 to $69.00 and set a “hold” rating for the company in a report on Wednesday, July 29th. Finally, JPMorgan Chase & Co. reduced their price target on Tyson Foods from $71.00 to $65.00 and set a “neutral” rating on the stock in a report on Tuesday, July 14th. Four equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $70.67.
Check Out Our Latest Stock Report on Tyson Foods
Tyson Foods Price Performance
Tyson Foods (NYSE:TSN – Get Free Report) last announced its quarterly earnings data on Monday, August 3rd. The company reported $0.99 earnings per share for the quarter, meeting the consensus estimate of $0.99. Tyson Foods had a return on equity of 7.77% and a net margin of 1.03%.The firm had revenue of $13.87 billion during the quarter, compared to the consensus estimate of $14.07 billion. During the same quarter in the previous year, the company posted $0.91 earnings per share. The business’s revenue was down .1% on a year-over-year basis. As a group, analysts predict that Tyson Foods will post 3.95 earnings per share for the current year.
Institutional Inflows and Outflows
Institutional investors have recently modified their holdings of the business. Norges Bank bought a new stake in Tyson Foods during the fourth quarter worth about $308,297,000. Davis Selected Advisers lifted its holdings in shares of Tyson Foods by 28.8% during the fourth quarter. Davis Selected Advisers now owns 12,827,540 shares of the company’s stock valued at $751,951,000 after purchasing an additional 2,865,413 shares during the last quarter. Life Cycle Investment Partners Ltd purchased a new position in shares of Tyson Foods during the fourth quarter valued at approximately $165,220,000. Pzena Investment Management LLC boosted its position in shares of Tyson Foods by 12.1% in the 1st quarter. Pzena Investment Management LLC now owns 17,155,713 shares of the company’s stock worth $1,099,167,000 after purchasing an additional 1,845,200 shares in the last quarter. Finally, AQR Capital Management LLC boosted its position in shares of Tyson Foods by 34.4% in the 3rd quarter. AQR Capital Management LLC now owns 6,726,796 shares of the company’s stock worth $363,852,000 after purchasing an additional 1,720,009 shares in the last quarter. 67.00% of the stock is currently owned by institutional investors.
Tyson Foods Company Profile
Tyson Foods, Inc (NYSE: TSN) is a multinational food company primarily engaged in the production, processing and marketing of protein-based and prepared food products. Founded in 1935 and headquartered in Springdale, Arkansas, the company is one of the world’s largest processors of chicken, beef and pork. Its operations span live animal procurement and farming relationships through slaughter, further processing and distribution, supplying raw protein and value-added prepared foods to retail, foodservice and industrial customers.
The company’s product portfolio covers fresh and frozen meats, branded and private-label prepared foods, and a range of value-added items such as ready-to-eat and ready-to-cook meals, snack and sandwich meats.
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