Economy

Tyson Foods profit tops estimates, shares rise 5 pct

Tyson Foods profit tops estimates, shares rise 5 pct

Assenagon Asset Management S.A. lifted its stake in shares of Tyson Foods by 2,014.3% in the 3rd quarter.

Net income attributable to the company almost tripled to $1.63 billion, or $4.40 per share, in the quarter ended December 30.

ILG, Inc. (NASDAQ:ILG) has a market cap of $3.73 billion and over the last 12 months, ILG has risen by 57.11%.

The collective rating of 2.1 for Tyson Foods, Inc.

Tyson's Beef business reported sales of $3.89 billion for the quarter more than $350 million over the $3.528 billion posted during the same period past year. Tyson Foods's revenue for the quarter was up 11.4% compared to the same quarter previous year. It also reduced its holding in Sony Corp (NYSE:SNE) by 102,400 shares in the quarter, leaving it with 83,000 shares, and cut its stake in Akorn Inc (NASDAQ:AKRX). Cerebellum GP LLC bought a new stake in shares of Tyson Foods in the fourth quarter valued at about $124,000. These holdings make up 71.19% of the company's outstanding shares. Nine Masts Capital Limited has invested 0.19% of its portfolio in Tyson Foods, Inc. (NYSE:TSN) opened at $73.38 on Thursday. Tyson Foods, Inc. The firm has a market capitalization of $27,281.00, a P/E ratio of 13.97 and a beta of 0.17. Bokf Na invested 0.22% of its portfolio in Tyson Foods, Inc.

Tyson Foods Inc, the largest USA meat processor, reported better-than-expected revenue and profit on Thursday, aided by benefits from the US tax overhaul along with stronger sales of beef products and higher-margin prepared foods. That's a potential 14.65 increase relative to where Tyson Foods, Inc.

The results came on revenue of $10.2 billion, up from $9.2 billion in the same quarter past year.

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With earnings at the doorstep, we can see that insider ownership is now 1.20% shares, and institutional ownership is at 91.00% for Tyson Foods, Inc. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $1.51 per share.

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 15th. Stockholders of record on Thursday, March 1st will be given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 1.58%. Tyson Foods's quarterly revenue was up 11.4% on a year-over-year basis. The ex-dividend date of this dividend is Wednesday, February 28th. Tyson Foods's payout ratio is presently 25.05%. Corporate insiders own 2.65% of the company's stock. The stock ended last trade at 74.19 a share and the price is up more than -8.49% so far this year. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Stephen R. Stouffer sold 7,754 shares of the stock in a transaction dated Tuesday, November 21st. The disclosure for this sale can be found here. Van ECK Associates Corp now owns 1,810,796 shares of the company's stock worth $127,571,000 after acquiring an additional 515,680 shares during the last quarter. Argus upgraded Tyson Foods from a "hold" rating to a "buy" rating and set a $90.00 price target for the company in a research note on Wednesday, November 15th.

"Building on our momentum from a record year in fiscal '17, we're off to a strong start in fiscal '18", Tom Hayes, Tyson president and CEO, said in a release. Tyson Foods Inc. had 55 analyst reports since August 5, 2015 according to SRatingsIntel. On Tuesday, January 30 the stock rating was maintained by Barclays Capital with "Overweight". Pivotal Research maintained the stock with "Sell" rating in Monday, August 7 report. (NYSE:TSN) established that the company was able to keep return on investment at 8.15 in the trailing twelve month while Reuters data showed that industry's average stands at 12.16 and sector's optimum level is 53.94. ValuEngine raised Tyson Foods from a "hold" rating to a "buy" rating in a research note on Monday, November 20th.

"Average sales price increased as demand for our beef products and strong exports outpaced the increase in live cattle supplies", the company noted.

TRADEMARK VIOLATION WARNING: "Stephens Inc".

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