Tyson Foods, Inc. (TSN) Shares Gap Up After Strong Earnings

Tyson Foods, Inc. (NYSE:TSN) shares gapped up before the market opened on Tuesday following a stronger than expected earnings report. The stock had previously closed at $68.03, but opened at $66.90. Tyson Foods shares last traded at $65.29, with a volume of 2,763,374 shares traded.

The company reported $1.28 earnings per share for the quarter, beating the consensus estimate of $1.18 by $0.10. The business 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 revenue was up 4.8% compared to the same quarter last year. During the same period last year, the firm posted $1.21 earnings per share.

The company also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Friday, December 1st will be given a $0.225 dividend. The ex-dividend date of this dividend is Thursday, November 30th. This represents a $0.90 annualized dividend and a yield of 1.38%. Tyson Foods’s dividend payout ratio is presently 18.95%.

Several research firms have commented on TSN. Zacks Investment Research upgraded Tyson Foods from a “hold” rating to a “buy” rating and set a $73.00 target price for the company in a research report on Thursday, August 10th. BMO Capital Markets restated an “outperform” rating and set a $78.00 price objective (up 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 objective on shares of Tyson Foods in a research report on Tuesday, August 8th. Royal Bank Of Canada lifted their target price on Tyson Foods from $68.00 to $70.00 and gave the stock a “sector perform” rating in a report on Tuesday, August 8th. Finally, Mizuho reiterated a “buy” rating and issued a $76.00 target price (up from $71.00) on shares of Tyson Foods in a report on Wednesday, August 9th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $69.79.

In related news, CFO Dennis Leatherby sold 145,100 shares of the business’s stock in a transaction 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 transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Mikel A. Durham bought 2,809 shares of Tyson Foods stock in a transaction that occurred on Monday, August 14th. The shares were acquired at an average price of $65.77 per share, with a total value of $184,747.93. The disclosure for this purchase can be found here. Insiders own 2.65% of the company’s stock.

A number of large investors have recently modified their holdings of the stock. IFP Advisors Inc boosted 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 valued at $130,000 after buying an additional 182 shares in the last quarter. Sun Life Financial INC raised its position 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 valued at $132,000 after buying an additional 2,100 shares in the last quarter. Washington Trust Bank raised its position in 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 during the period. Independent Portfolio Consultants Inc. raised its position in 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 during the period. Finally, Archford Capital Strategies LLC raised its position in 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 during the period. Institutional investors own 71.05% of the company’s stock.

The company’s 50 day moving average is $62.81 and its 200 day moving average is $62.27. The firm has a market cap of $23.90 billion, a price-to-earnings ratio of 13.73 and a beta of 0.26.

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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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