Tyson Foods (TSN) reported quarterly earnings results on Monday, May-9-2016. The company said it had a profit of $1.07 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.11. Analysts had a consensus of $0.96. The company posted revenue of $9170.00 million in the period, compared to analysts expectations of $9016.59 million. The company’s revenue was down -8.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.75 EPS.
Many Wall Street Analysts have commented on Tyson Foods. Company shares were Reiterated by RBC Capital Mkts on Apr 15, 2016 to “Sector Perform”, Firm has raised the Price Target to $ 65 from a previous price target of $60 .Tyson Foods was Downgraded by Credit Agricole to ” Outperform” on Apr 13, 2016. Tyson Foods was Downgraded by BB&T Capital Mkts to ” Hold” on Mar 4, 2016.
Tyson Foods opened for trading at $66.14 and hit $67.34 on the upside on Friday, eventually ending the session at $67.25, with a gain of 1.31% or 0.87 points. The heightened volatility saw the trading volume jump to 45,32,241 shares. Company has a market cap of $24,419 M.
Investors should note that on Feb 10, 2016, Tyson Foods announced a cash dividend of $0.1500. The company’s management has announced May 27, 2016 as the ex-dividend date and fixed the record date on Jun 1, 2016. The payable date has been fixed on Jun 15, 2016.
In a different news, on Apr 22, 2016, Howell P Carper (EVP Strategy and New Ventures) sold 64,763 shares at $63.76 per share price. According to the SEC, on Mar 28, 2016, Bebber David L Van (EVP & General Counsel) sold 75,467 shares at $67.01 per share price. On Mar 1, 2016, Noel W White (President Poultry) sold 78,453 shares at $66.02 per share price, according to the Form-4 filing with the securities and exchange commission.
Tyson Foods Inc. is a food production company. The Companys operations are conducted in five segments: Chicken Beef Pork Prepared Foods and International. Chicken includes domestic operations related of raising and processing live chickens into fresh frozen and value-added chicken products and sales of allied products. Beef includes operations related to processing live fed cattle and fabricating dressed beef carcasses into primal and sub-primal meat cuts and case-ready products. Pork includes operations related to processing live market hogs and fabricating pork carcasses into primal and sub-primal cuts and case-ready products. Prepared Foods includes operations related to manufacturing and marketing frozen and refrigerated food products and logistics operations of products through the supply chain. International includes foreign operations related to raising and processing live chickens into fresh frozen and value-added chicken products in across countries.