|Bid||79.43 x 1400|
|Ask||79.49 x 800|
|Day's Range||78.78 - 80.15|
|52 Week Range||49.77 - 84.30|
|Beta (3Y Monthly)||0.59|
|PE Ratio (TTM)||14.21|
|Earnings Date||Aug 5, 2019 - Aug 9, 2019|
|Forward Dividend & Yield||1.50 (1.88%)|
|1y Target Est||87.00|
Yahoo Finance's Heidi Chung reports to Julie Hyman on the upcoming summer food trends.
Beyond Meat shares are tumbling after Tyson Foods CEO told investors the company is willing to increase its market spending to push into the alternative meat market. Yahoo Finance's Seana Smith & Heidi Chung discuss.
Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.
Falconer, New York-based Maplevale Farms accuses Tyson Foods Inc., Perdue Farms Inc., Pilgrim’s Pride and others of conspiring to fix poultry prices between 2008 and 2016.
(Bloomberg) -- The U.S. Justice Department has opened a criminal investigation into allegations that chicken processors, including Tyson Foods Inc., Pilgrim’s Pride Corp. and Sanderson Farms Inc., conspired to fix prices.Prosecutors disclosed the grand jury probe in a court filing Friday in Chicago, where civil lawsuits against more than a dozen companies in the industry are pending. Tyson, Pilgrim’s and Sanderson alone control almost half of the U.S. chicken market.The investigation significantly escalates pressure on the poultry processors, which have been fighting price-fixing allegations by consumers, distributors, grocery chains and food companies, including Conagra Brands Inc. and Kraft Heinz Co.Tyson closed down 1.1% to $79.97 in New York, while Pilgrim’s settled down 1.3% to $25.18 and Sanderson dropped 2.2% to $131.03. Brazil’s JBS SA, which owns a controlling stake in Pilgrim’s, settled up 0.5% to 21.90 reais in Sao Paulo.A spokesman for the Justice Department declined to comment. Prosecutors intervened in the civil litigation to ask the court to suspend for six months depositions of the chicken processors’ current and former employees. Tyson said it was notified on April 26 that plaintiffs in the civil cases had received a subpoena from the Justice Department.“We are aware of the Department of Justice’s request, which does not change our view that there is simply no merit to the allegations that Tyson Foods colluded with competitors,” Gary Mickelson, a company spokesman, said in an emailed statement. “We remain committed to vigorously defending ourselves against these baseless allegations.”Sanderson Farms Chief Financial Officer Mike Cockrell said the company hasn’t received a subpoena. “The company continues to believe the civil plaintiffs’ claims as to Sanderson Farms are wholly without merit, and we are committed to defending the case vigorously,” Cockrell said in an emailed statement.Pilgrim’s Pride didn’t immediately respond to a request Tuesday seeking comment on the criminal probe.The poultry processors are accused in the civil lawsuits of colluding to increase prices for broiler chickens. The companies allegedly reduced the supply of broiler chickens and then manipulated prices on a weekly benchmark compiled by the Georgia Department of Agriculture, according to court papers.(Updates shares in fourth paragraph.)To contact the reporters on this story: David McLaughlin in Washington at firstname.lastname@example.org;Lydia Mulvany in Chicago at email@example.comTo contact the editors responsible for this story: Sara Forden at firstname.lastname@example.org, ;David Glovin at email@example.com, Steve Stroth, Peter JeffreyFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
The DOJ filed a motion to intervene and stay discovery of evidence in an antitrust lawsuit involving the companies and has convened a grand jury to investigate, according to a court filing from Friday. Shares of Tyson, Pilgrim's Pride and Sanderson Farms fell in late afternoon trading.
The Department of Justice has intervened in a price-fixing suit against the country’s biggest poultry companies, Tyson Foods, Inc. (NYSE: TSN ) and Pilgrim's Pride Corporation (NASDAQ: PPC ). The Fern ...
Shares of McDonald's (MCD) have jumped 15% this year to outpace its industry's 10.5% climb. With this in mind, let's see what's next for the historic fast-food burger powerhouse...
Tyson Foods, Inc. (NYSE: TSN ) held its annual day presentation Thursday, which prompted BMO to reaffirm the food company as a "top pick" for 2019. The Analyst BMO Capital Markets' Kenneth Zaslow ...
Did Beyond Meat (NASDAQ:BYND) just begin a cooldown? The Beyond Meat stock price fell from over $200 per share to around $165 per share as one restaurant chain opted not to include its plant-based meat on their menu. This ended a meteoric rise in the stock from when it launched its IPO in early May.Source: Shutterstock Whether this constitutes profit-taking or a sustained move down remains unclear. However, given its current multiple and the lack of a catalyst to take BYND further, investors should probably stay away. A Closer Look at Beyond Meat StockBeyond stock fell as Yum! Brands (NYSE:YUM) restaurant chain Taco Bell announced that they would stay with their current vegetarian options. This also stopped the momentum that had taken BYND stock to more than eight times its IPO price in less than two months.InvestorPlace - Stock Market News, Stock Advice & Trading TipsMany might see this drop as a "buying opportunity." With an increased focus on healthy food, this could well be just the beginning for plant-based meat products. Moreover, even for traders who see the run-up as concerning, Taco Bell's decision not to go with Beyond Meat does not justify such a drop.Beyond Meat counts many prominent restaurant chains as clients. Del Taco Restaurants (NASDAQ:TACO) reported that they sold about two million Beyond Meat tacos since April. Consequently, they will add two burritos featuring the meat substitute. Plant-based meat has also found its way on the menus of other restaurants. Both Carl's Jr. and TGI Friday's feature items with Beyond Meat products.Beyond Meat stock also benefits from its status as the only stock in this nascent industry. Its most direct peer, Impossible Foods, remains private. Tyson Foods (NYSE:TSN) also plans to offer a plant-based protein of their own, though they have not introduced such a product. Watch the ValuationStill, before placing buy orders on Beyond Meat, traders need to exercise caution. Several analysts have turned on BYND stock due to valuation concerns, and analysts project losses until at least next year. Most investors can understand this as Beyond Meat trades at around 87 times sales!Many might also question the $10 billion market cap. Wall Street predicts $204.97 million in revenue for the year. Even if the 63.5% revenue growth rate for 2020 comes to pass, prospective buyers need to act cautiously in such cases.Investors should also note that hot stocks take on higher risk in the food industry. Hot tech stocks tend to support higher multiples over long periods, making stocks with high valuations less risky. However, food industry stocks rarely gain premium price-to-earnings (PE) ratios or attention.Tyson trades at less than 14 times earnings. Also, Food wholesalers tend to trade at multiples in the teens, lagging S&P 500 averages. Should Beyond Meat lose its sizzle, it could easily fall to such multiples.Moreover, investors may have other stock choices in this industry soon. Impossible Foods does not plan an IPO so far. Still, the success of BYND stock could change those plans. Further, as Tyson or other food producers enter the business, some investors might opt for those stocks. Final Thoughts on Beyond Meat StockThe multiple on Beyond Meat stock makes the equity unpredictable. The plant-based meat industry could amount to a game-changer in the food industry. Consequently, traders have bid the price-to-sales multiple on the equity into the stratosphere.However, while the stock might trade at higher levels years from now, the short and medium term could become challenging. In most cases, failure to gain a customer such as Taco Bell would not have led to such a massive selloff in an equity. Still, with no obvious catalyst to take it beyond current levels, Beyond Meat could fall.Moreover, seeing the stock trade at more than 87 times sales indicates a likely bubble. Most of its industry peers trade at multiples below S&P 500 averages. If BYND falls due to a turn in sentiment, it could leave investors underwater in this equity for years.As we just saw with Beyond Meat stock recently, speculation in hot stocks can bring tremendous returns. However, at this point, such investors might fare better in an equity with more potential upside than BYND stock.As of this writing, Will Healy did not hold a position in any of the aforementioned stocks. You can follow Will on Twitter at @HealyWriting. More From InvestorPlace * 4 Top American Penny Pot Stocks (Buy Before June 21) * The 7 Best Dow Jones Stocks to Buy for the Rest of 2019 * 5 Boring Stocks to Buy This Summer * 7 S&P 500 Stocks to Buy With Little Debt and Lots of Profits Compare Brokers The post Watch for a Bubble as Beyond Meat Stock Begins to Cool appeared first on InvestorPlace.
As the S&P 500 hits new high, we have presented a bunch of stocks that have easily led the way gaining more than 45%, and will continue to outperform heading into the second half.
Charlotte private equity firm Falfurrias Capital Partners is set to acquire The C.F. Sauer Co., a company known for manufacturing familiar household products, such as Duke's Mayonnaise, Gold Medal and The Spice Hunter.
Chairman John Tyson, President and CEO Noel White and members of the company’s senior management team spoke at the event, which showcased the strength of Tyson’s diversified portfolio, execution of its long-term growth strategy, efforts to increase its value-added product offerings, continued innovation in food and sustainability, and expansion into new global markets. “We’re excited about the direction of our company and the diversity of our products, businesses, people and locations,” said John Tyson. Tyson Foods has delivered a total shareholder return of 695 percent over the past 10 fiscal years, compared to a 328 percent return of the S&P 500 during the same timeframe.
Investors want another helping of Beyond Meat Inc. stock, with shares up another 12.6% in Wednesday trading, but the competition in the plant-based and meat-alternative categories could take a bite out Beyond Meat’s stratospheric growth.
Sara Lee, an iconic bakery brand in the realm of Chicago food companies, is ramping up research and development in an apparent effort to make the company once again a brand with widespread appeal and a higher profile than it has had in recent years. Sara Lee next week will open a 10,000-square-foot R&D center and test kitchen in the company’s new headquarters in west suburban Oakbrook Terrace, Illinois.
Shares of Beyond Meat Inc. shot above the $200 mark for the first time in early trading Tuesday, before paring some gains, as the maker of plant-based meat alternative extended its rocket ride since going public about seven weeks ago. The stock was up as much as 19% at its intraday high of $201.88, but was recently up 9.7% at $186.47, which was more than 7-times the $25 IPO price, as bearish investors have been forced to flee despite some concerns over competition. Last week, Tyson Foods Inc. unveiled its first alternative-meat products. The stock's rally comes as the Renaissance IPO ETF has gained 4.6% over the past three months and the S&P 500 has tacked on 3.0%.
Tyson Foods Inc NYSE:TSNView full report here! Summary * Perception of the company's creditworthiness is positive * ETFs holding this stock are seeing positive inflows * Bearish sentiment is low Bearish sentimentShort interest | PositiveShort interest is extremely low for TSN with fewer than 1% of shares on loan. This could indicate that investors who seek to profit from falling equity prices are not currently targeting TSN. Money flowETF/Index ownership | PositiveETF activity is positive. Over the last month, ETFs holding TSN are favorable, with net inflows of $10.55 billion. Additionally, the rate of inflows is increasing. Economic sentimentPMI by IHS Markit | NeutralAccording to the latest IHS Markit Purchasing Managers' Index (PMI) data, output in the Consumer Goods sector is rising. The rate of growth is weak relative to the trend shown over the past year, however. Credit worthinessCredit default swap | PositiveThe current level displays a positive indicator. TSN credit default swap spreads are near the lowest level of the last one year and indicate improvement in the market's perception of the company's credit worthiness.Please send all inquiries related to the report to firstname.lastname@example.org.Charts and report PDFs will only be available for 30 days after publishing.This document has been produced for information purposes only and is not to be relied upon or as construed as investment advice. To the fullest extent permitted by law, IHS Markit disclaims any responsibility or liability, whether in contract, tort (including, without limitation, negligence), equity or otherwise, for any loss or damage arising from any reliance on or the use of this material in any way. Please view the full legal disclaimer and methodology information on pages 2-3 of the full report.
(Bloomberg) -- Beyond Meat Inc. shares closed at their highest price yet as short sellers felt the burn to the tune of half a billion dollars.The shares rose 12% to $169.96 on Monday, extending a rally that has added almost 600% to the stock price since its initial public offering last month. That has cost short sellers $560 million in mark-to-market losses since the IPO, including $97.5 million in this session alone, said Ihor Dusaniwsky, managing director of predictive analytics at financial analytics firm S3 Partners. Bearish bets in the faux meat company are at $799 million with 5.3 million shares shorted, according to S3 data.“We are still not seeing any short covering in size today, as any shorts exiting their positions are being replaced by new shorts,” Dusaniwsky wrote. “Prime brokers are recycling the stock borrows they have on their books -- just the names of the short sellers are changing.”Makers of real meat, like Tyson Foods Inc. and Pilgrim’s Pride Corp., are also getting burned as summer barbecue season gets underway this week and Beyond Meat kicks off sales of its “Beyond Beef” plant product meant that’s meant to look like ground beef.Tyson shares slipped 4.1% while Pilgrim’s Pride fell 3.8%. Sanderson Farms Inc. tumbled 7.5% in its biggest drop in 18 months.With its own veggie burger in the works, Tyson has been the lone outperformer among so-called “protein” names since Beyond’s IPO on May 1. Tyson shares are up 5% since then, even as concerns over feed costs weigh on chicken producers.(Adds close of trading starting in first paragraph, S3 comment in third.)\--With assistance from Lydia Mulvany, James Attwood, Bailey Lipschultz and Catherine Larkin.To contact the reporters on this story: Cristin Flanagan in New York at email@example.com;Janet Freund in New York at firstname.lastname@example.orgTo contact the editors responsible for this story: Catherine Larkin at email@example.com, Morwenna Coniam, Scott SchnipperFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
All eyes are on the US Federal Reserve right now. On Wednesday, the Fed will reveal whether it decides to slash interest rates or keep them steady at 2.25% - 2.50%. Ahead of the announcement, the general consensus is that the Fed will keep rates steady but set the groundwork for cuts when it next meets in July. “The markets are set up for a cut in July, and if they don’t get it, financial conditions will tighten” Carl Tannenbaum, chief economist at Northern Trust, told Reuters.So how should investors prepare their portfolios going forward? Goldman Sachs has some advice. “If the Fed does cut rates, the S&P 500 usually rallies afterward, with health care and consumer staples outperforming and information technology consistently lagging,” Goldman's chief U.S. equity strategist David Kostin said. The “communication services sector has generated the best relative returns and hit rate of outperformance during the subsequent 3 months (+4 pp, 100%), but has underperformed over a 12-month horizon.”Here we take a closer look at three stocks that fit into these two categories, with 2 healthcare stocks and 1 consumer staples stock. What’s more, all three of these stocks show a ‘Strong Buy’ Street consensus. That’s based on all ratings received over the last three months. Let’s take a closer look at why analysts are so bullish on these stocks now: 1\. Boston Scientific (BSX)Boston Scientific manufactures medical devices used in interventional medical specialties, including everything from needles to pacemakers. Shares are up 14% year-to-date, and over 80% on a three-year basis. Right now, the company is gearing up for its investor day on June 26. This is the first event since 2017- and expectations are high that BSX met or exceeded all of the 2017 and 2018 financial targets. Needham analyst Mike Matson is confident that BSX can sustain high single digit growth over the next few years, and expects it to target organic revenue growth of 7-9% from 2019 to 2022 at the event. “Given BSX’s strong fundamentals (durable high single digit revenue growth, diversified product portfolio, margin expansion potential, etc.), we believe there is potential for upside to consensus estimates and additional multiple expansion and we reiterate our Strong Buy rating” writes Matson. He reiterated his BSX ‘Buy’ rating on June 14 with a $46 price target (14% upside potential). As we can see here the stock has received 9 recent buy ratings and 1 hold rating:View BSX Price Target & Analyst Ratings Detail 2\. Medtronic (MDT)Ireland-based Medtronic is one of the world’s largest medical device makers. Although the company manufactures a wide range of products, most of the hype right now is centered on the MazorX robotic platform. Medtronic snapped up Mazor Robotics for $1.7 billion late last year, and the two companies have now developed the MazorX Stealth Edition robotic guidance platform. The power of the platform is a preoperative planning suite with 3D analytics and tools, which allows surgeons to optimize the surgical process in advance. “Part of MDT’s revenue acceleration thesis depends on the success of MazorX in driving spine share gains” writes Evercore ISI analyst Vijay Kumar. He recently reiterated his Medtronic Buy rating with a $108 price target. “We think MDT’s view of ‘several hundred bps of share gains’ in spine remains a credible thesis given early trends we are seeing. Extrapolating these to general surgery (~80% systems placed for committed implant / consumable volume) lends further credence to why we think robotic surgery could be a big deal for MDT” writes Kumar. The analyst concludes: “We think MDT is the perfect stock for a choppy environment, and should be a core holding given this revenue reacceleration thesis.” That’s alongside Wells Fargo analyst Larry Biegelsen upgrading Medtronic from Hold to Buy with a $110 price target. The analyst comments "We believe MDT is an accelerating growth story trading at a steep discount to its peers."Overall 7 analysts have published buy ratings on MDT in the last three months, with just 2 analysts staying sidelined.View MDT Price Target & Analyst Ratings Detail 3\. Tyson Foods (TSN)While many investors are pouring money into Beyond Foods, it’s also worth taking a closer look at Tyson Foods. This is the world's second largest processor and marketer of chicken, beef, and pork. However the company has also recently branched out into plant-based meat alternatives, including chicken nuggets and patties. Shares have rocketed with a 53% gain so far year-to-date. Boosting prices further was a rating upgrade from Argus Research’s John Staszak. He has a $92 price target on TSN (12% upside potential).Staszak cited a “growing demand for proteins" and notes that Tyson's beef division is experiencing "especially strong demand". Plus the company is working hard to increase prepared foods sales to satisfy the "steady demand and strong margins." And to top of it, Tyson trades at a multiple of just 12.8-times forward earnings, which is below the average large-cap food processor multiple of 18.4-times. It’s also easily towards the low end of Tyson’s own historical 9- to 19-times range. The stock boasts 7 recent bullish calls, with only 1 analyst publishing a Sell rating (Pivotal Research's Timothy Ramey). View TSN Price Target & Analyst Ratings Detail Discover stock ideas from the Street’s best performing analysts here