Tyson Foods (TSN) was Downgraded by Pivotal Research Group to ” Sell” while Lowering the Price Target of the company shares to $ 40 from a previous price target of $100 . Earlier the firm had a rating of “Buy ” on the company shares. Pivotal Research Group advised their investors in a research report released on Oct 7, 2016.
On the company’s financial health, Tyson Foods reported $1.21 EPS for the quarter, beating the analyst consensus estimate by $ 0.15 according to the earnings call on Aug 8, 2016. Analyst had a consensus of $1.06. The company had revenue of $9403.00 million for the quarter, compared to analysts expectations of $9328.72 million. The company’s revenue was down -6.6 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.80 EPS.
Tyson Foods closed down -1.43 points or -1.90% at $73.67 with 27,02,397 shares getting traded on Tuesday. Post opening the session at $75.13, the shares hit an intraday low of $73.6 and an intraday high of $75.33 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.
Investors should note that on Aug 8, 2016, Tyson Foods announced a cash dividend of $0.1500. The company’s management has announced Nov 29, 2016 as the ex-dividend date and fixed the record date on Dec 1, 2016. The payable date has been fixed on Dec 15, 2016.
In a different news, on Aug 29, 2016, Noel W White (President Poultry) sold 74,934 shares at $75.44 per share price. According to the SEC, on Aug 19, 2016, Donald Smith (CEO) sold 61,994 shares at $74.54 per share price. On Aug 19, 2016, Dennis Leatherby (EVP & CFO) sold 40,000 shares at $74.76 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.