Why is Tyson Foods (TSN) Stock Soaring Today?

Tyson Foods’ first quarter profits soared past expectations as the meat giant added $461 million to its corporate coffers to begin fiscal 2016. Bank Pictet & Cie Asia Ltd. bought a new position in Tyson Foods during the fourth quarter valued at $293,000. The Tyson family controls about 71% of the voting stock in the company through its ownership of the class B shares, which control 10 votes per share. Ferguson Wellman Capital Management Inc. boosted its stake in shares of Tyson Foods by 2.8% in the fourth quarter. The company’s strengths can be seen in multiple areas, such as its revenue growth, solid stock price performance, impressive record of earnings per share growth, attractive valuation levels and good cash flow from operations. The FactSet consensus was $1.4 billion. Nationwide Fund Advisors now owns 421,888 shares of the company’s stock worth $22,499,000 after buying an additional 5,795 shares during the period.

The company’s stock price (NYSE:TSN) jumped on the news by more than 10 percent from Thursday’s closing price of $51.95. The company has now reduced their sales outlook for the full year to $37 billion, down from $41 billion. Tyson Foods, Inc. The company has a 50 day moving average of $52.60 and a 200 day moving average of $46.68.

For more information on Tyson Foods’ Q1 earnings, please read our article ” Tyson Foods (TSN) Beats on Q1 Earnings, Misses Revenues”. During the same period previous year, the business posted $0.77 earnings per share. The company earned $9.15 billion during the quarter, compared to analysts’ expectations of $10.10 billion.

Revenue slid 15% to $9.15 billion.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 15th. Investors of record on Tuesday, March 1st will be issued a $0.15 dividend. Its up 0.09, from 1.05 in 2015Q1.

A number of research firms recently commented on TSN.

Want the latest recommendations from Zacks Investment Research? The highest target price is $53 while the lowest target price is $45. This means that 50% of the ratings are positive. Five analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Tyson Foods now has a consensus rating of “Buy” and a consensus target price of $53.85. Operating margin in pork should be above the normalized range of 6.0% to 8.0%, and margin in the prepared food division is now forecast to be near the low end of the normalized range of 10% to 12%. The stock was sold at an average price of $52.69, for a total value of $16,326,523.40.

Now, Lets take a look at the Insider Transactions. The disclosure for this sale can be found here.

From a total of 4 analysts covering Tyson Foods Inc.

Meanwhile, Tyson, the largest US meatpacker by sales, has looked to streamline its operations, including announcing plans in November to shutter two prepared-food plants.