March 7, 2014
Tyson Foods' chairman sells shares of stocks worth nearly US$13 million
On the open market in a transaction that occurred on Monday (Mar 3), Tyson Foods chairman John Tyson unloaded 336,895 shares of the stock which were sold at an average price of US$38.56, for a total transaction of $12,990,671.20.
Following the completion of the sale, the chairman now directly owns 1,868,160 shares of the company's stock, valued at approximately US$72,036,250. The transaction was disclosed in a legal filing with the Securities & Exchange Commission.
Shares of Tyson Foods opened at US$39.60 on Wednesday (Mar 5). Tyson Foods has a 52 week low of US$22.47 and a 52 week high of US$39.73. The stock has a 50-day moving average of US$36.71 and a 200-day moving average of US$32.09. The company has a market cap of US$13.475 billion and a price-to-earnings ratio of 16.82.
Tyson Foods last announced its earnings results on Friday (Jan 31). The company reported US$0.72 earnings per share (EPS) for the quarter, beating the consensus estimate of US$0.64 by US$0.08. The company had revenue of US$8.76 billion for the quarter, compared to the consensus estimate of US$8.76 billion. During the same quarter in the previous year, the company posted US$0.48 EPS. The company's revenue for the quarter was up 4.7% on an over-year basis. On average, analysts predict that Tyson Foods will post US$2.88 EPS for the current fiscal year.
Analysts at KeyCorp raised their price target on shares of Tyson Foods from US$42.00 to US$46.00. Separately, analysts at Credit Suisse raised their price target on shares of Tyson Foods from US$30.00 to US$36.00. They now have a "neutral" rating on the stock. Finally, analysts at BMO Capital Markets raised their price target on shares of Tyson Foods to US$43.00. Eight investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. Tyson Foods presently has an average rating of "Hold" and a consensus price target of US$36.75.
Tyson Foods, Inc. and its subsidiaries are meat protein companies and food production companies. The company produces, distributes and markets chicken, beefs, pork, prepared foods and related allied products.
