SPRINGDALE, Ark.—Wes Morris, the Group President of Poultry at Tyson Foods , Inc. (NYSE:TSN), has sold a significant portion of his holdings in the company. According to a recent SEC filing, Morris sold a total of 22,782 shares of Tyson Foods' Class A Common Stock on November 13, 2024. The shares were sold at prices ranging from $61.56 to $63.24 per share, amounting to a total transaction value of approximately $1.43 million.
Following these transactions, Morris retains ownership of 15,937 Class A Common Stock shares in the company. The sales were executed in multiple transactions, with the weighted average prices reflecting varied sale prices within the reported range.
In other recent news, Tyson Foods Inc (NYSE:TSN). has received various updates from financial firms following its better-than-expected fiscal fourth quarter of 2024 earnings. Piper Sandler maintained its Underweight rating on Tyson's shares, but raised the price target to $58.00, citing the strong performance of the Beef and Chicken segments. However, the firm expressed concerns about the future cattle costs and market supply of chicken.
BMO Capital Markets and Stephens also adjusted their price targets for Tyson Foods to $62.00 and $60.00 respectively, while keeping their Market Perform and Equal Weight ratings. These adjustments were driven by Tyson's robust results in the Chicken and Beef segments and the company's positive guidance for fiscal year 2025. Despite the positive adjustments, analysts noted risks to chicken margins and the journey to normalized earnings.
Barclays (LON:BARC) reaffirmed its Overweight rating on Tyson Foods, maintaining a $76.00 price target. The firm highlighted Tyson's Chicken operations as a key driver for the company's growth, despite increased marketing expenditures. Tyson also recently opened a new fully cooked plant in Danville, Virginia, signaling strong demand for prepared foods. These are the recent developments in the company's journey.
InvestingPro Insights
As Wes Morris reduces his stake in Tyson Foods, investors may find additional context in the company's current financial metrics and market performance. According to InvestingPro data, Tyson Foods boasts a market capitalization of $22.53 billion and a price-to-earnings ratio of 28.55, suggesting a premium valuation compared to some industry peers.
Despite the recent insider sale, Tyson Foods maintains a strong dividend profile. An InvestingPro Tip highlights that the company has raised its dividend for 11 consecutive years, demonstrating a commitment to shareholder returns. This is further supported by a current dividend yield of 3.16%, which may attract income-focused investors.
Another InvestingPro Tip notes that Tyson Foods is trading at a low P/E ratio relative to its near-term earnings growth, potentially indicating an undervalued opportunity. This could be particularly interesting in light of the company's recent stock performance, with a notable 7.82% price return over the past week and a 37.43% return over the last year.
For investors seeking a more comprehensive analysis, InvestingPro offers 11 additional tips on Tyson Foods, providing a deeper dive into the company's financial health and market position.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.