Insider Trading : Wed 5/17/23

Notable purchases -- CEO/Founder adds to SYM; notable sales -- Executives active in JPM

Buyers:

• AVD Director bought 20,000 shares at $16.74 worth ~$335K.
• AWR Director bought 2,000 shares at $89.99 worth ~$180K.
• BFH 10% owner Turtle Creek bought 210,000 shares at $26.24 - $28.31 worth ~$5.8 mln.
• CPE Director bought 10,000 shares at $30.245 worth ~$302K.
• CTOS Director bought 40,000 shares at $6.35 - $6.58 worth ~$259K.
• EGBN Executive Vice President/Chief Legal Officer and two (2) Directors bought a total of 12,000 shares at $17.50 - $17.85 worth ~$212K.
• EYE Chief Executive Officer bought 12,625 shares at $23.75 - $23.82 worth ~$301K.
• FARO Executive Chairman and two (2) Directors bought a total of 41,255 shares at $10.42 - $11.74 worth ~$468K.
• G Director bought 5,000 shares at $36.91 - $36.94 worth ~$185K.
• NWBI Director bought 15,000 shares at $10.61 - $10.72 worth ~$160K.
• PRCH Chief Executive Officer, Chairman, and Founder bought 209,440 shares at $1.01 - $1.19 worth ~$231K.
• RYAM President/Chief Executive Officer and one (1) Director bought a total of 65,000 shares at $4.47 - $4.62 worth ~$291K.
• SLQT Chief Executive Officer, President, and three (3) Directors bought a total of 925,000 shares at $1.16 - $1.28 worth ~$1.2 mln.
• SYM Director bought 8,000 shares at $24.70 worth ~$198K.
• TOST Director bought 635,000 shares at $19.24 - $20.00 worth ~$12.5 mln.
• TSN Director bought 20,500 shares at $48.86 - $48.99 worth ~$1.0 mln.
• VPG Director bought 10,000 shares at $33.83 - $34.225 worth ~$340K.

Sellers:

• BMEA 10% owner A2A Pharmaceuticals sold 25,000 shares at $33.50 - $34.50 worth ~$846K.
• CR President and Chief Executive Officer sold 37495 shares at $75.80 - $76.80 worth ~$2.9 mln.
• EL Executive Group President sold 9,869 shares at $198.39 - $200.97 worth ~$2.0 mln.
• JPM Chief Risk Officer, Chief Information Officer, CEO of Asset & Wealth Management, CEO of Commercial Banking, and Vice Chairman sold a total of 46,983 shares at $134.80 - $135.02 worth ~$6.3 mln.
• SMPL Director sold 15,133 shares at ~40.00 worth ~$605K.

Tyson Foods (TSN) reported earnings on Mon 7 Feb 22 (b/o)

 ** charts after earnings **

 

 

 

 

 

 

 Tyson Foods beats by $0.94, beats on revs; reaffirms FY22 revs guidance 

• Reports Q1 (Dec) earnings of $2.87 per share, $0.94 better than the S&P Capital IQ Consensus of $1.93; revenues rose 23.6% year/year to $12.93 bln vs the $12.17 bln S&P Capital IQ Consensus.
• Co reaffirms guidance for FY22, sees FY22 revs of upper end of $49-51 bln vs. $50.39 bln S&P Capital IQ Consensus.

Tyson Foods (TSN) reported earnings on Mon 7 May 2018 (b/o)

** charts before earnings **

 

** charts after earnings **

Tyson Foods misses by $0.04, reports revs in-line; reaffirms FY18 EPS guidance 

• Reports Q2 (Mar) earnings of $1.27 per share, excluding non-recurring items, $0.04 worse than the Capital IQ Consensus of $1.31; revenues rose 7.6% year/year to $9.77 bln vs the $9.86 bln Capital IQ Consensus.
• Coreaffirms guidancefor FY18, sees EPS of $6.55-6.70, excluding non-recurring items, vs. $6.62 Capital IQ Consensus Estimate.

=Tyson Foods (TSN) reported earnings on Thur 8 Feb 2018 (b/o)

Tyson Foods beats by $0.32, beats on revs; guides FY18 EPS above consensus

• Reports Q1 (Dec) earnings of $1.81 per share, excluding non-recurring items, $0.32 better thanthe Capital IQ Consensus of $1.49; revenues rose 11.4% year/year to $10.23 bln vs the $9.88 bln Capital IQ Consensus.
• Co issues raised guidance for FY18, sees EPS of $6.55-6.70 from $5.70, excluding non-recurring items, vs. $5.90 Capital IQ Consensus Estimate.
• "Through a combination of synergies from the integration of AdvancePierre and additional elimination of non-value added costs, the program is estimated to result in net savings of $200 million in fiscal 2018, $400 million in fiscal 2019 including new savings of $200 million, and $600 million in fiscal 2020 including additional savings of $200 million. The majority of these savings, which are focused on supply chain, procurement, and overhead improvements, are expected to be realized in the Prepared Foods and Chicken segments."

=Tyson Foods (TSN) increases FY EPS guidance

Tyson Foods increases FY EPS guidance 'primarily due to much better than expected earnings in the Beef segment'

• FY 17 Adj. EPS guidance, which ends Saturday, has been increased to an adjusted $5.20-5.30 per share, up from $4.95-5.05, primarily due to much better than expected earnings in the Beef segment.
  • Current Cap IQ Consensus estimates FY 17 adj. EPS of $5.06
• The company plans to reduce headcount by ~450 positions across several areas and job levels.
  • In its fiscal fourth quarter earnings report, Tyson Foods plans to report restructuring and other charges of approximately $140 - $150 million, composed of an approximately $70 million impairment for costs related to in-process software implementations, $45 - $50 million in employee termination costs and $25 - $30 million in contract termination costs.
• Guidance for FY 18 adj. EPS of $5.70-5.85vs $5.33 Cap IQ Consensus

=Tyson Foods (TSN) reported earnings on Mon 7 Aug 2017 (b/o)

(Reuters) - Tyson Foods Inc (TSN) reported stronger-than-expected quarterly results on Monday, sending its shares up 5 percent, and said it would ramp up chicken production in the face of record demand from U.S. consumers.

Tyson said it spent more money on advertising and marketing for chicken in the third quarter ended on July 1, bringing down operating income for that segment.

Still, the company is working to increase its production capacity for fully cooked chicken and raw meat sold in packages in grocery stores to meet demand, Chief Executive Officer Tom Hayes said on a conference call with analysts.

Tyson is "essentially busting at the seams on both those areas," he said. "What we are focused on is making sure our supply meets our demand, and we're having a challenge right now."

U.S. per capita consumption of chicken is expected to hit a record high this year, according to National Chicken Council annual data that runs from 1965.

Sales of chicken have increased as consumers seek more protein in their diets. It is cheaper than beef and pork and considered more healthy.

Tyson said its sales volumes for chicken rose 1.6 percent in the third quarter ended on July 1, and average prices were up 2.9 percent.

"Higher prices for chicken haven't dampened consumer demand," Hayes said.

Beef prices rose 5.3 percent on average, while pork prices rose 3.3 percent. Sales volumes for each were up less than 1 percent.

For the fiscal year, Tyson raised the low end of its profit forecast by 5 cents a share to $4.95, excluding special items. It kept the top end at $5.05 per share.

The company said it expected sales of more than $38 billion. It previously said they would remain flat at $36.88 billion.

For the quarter, Tyson said profit dropped 22 percent in its chicken unit, and operating margins fell to 10.4 percent from 13.9 percent. The company expects those margins to remain around 10 percent next year, with a nearly 3 percent growth in volume.

Net income attributable to Tyson fell nearly 8 percent to $447 million from $484 million a year earlier. Excluding items, earnings of $1.28 per share beat the analysts' average estimate of $1.18, according to Thomson Reuters I/B/E/S.

=Tyson Foods (TSN) reported earnings on Mon 8 May 2017 (b/o)

Tyson Foods misses by $0.01, reports revs in-line; reaffirms FY17 EPS guidance:

• Reports Q2 (Mar) earnings of $1.01 per share, excluding non-recurring items, $0.01 worse than the Capital IQ Consensus of $1.02; revenues fell 0.9% year/year to $9.08 bln vs the $9.07 bln Capital IQ Consensus; adj. operating income +8% to $1.6 bln.
• Co reaffirms guidance for FY17, sees EPS of $4.90-5.05, excluding non-recurring items, vs. $5.02 Capital IQ Consensus Estimate. 
• In fiscal 2017, USDA indicates domestic protein production (beef, pork, chicken and turkey) should increase ~3-4% from fiscal 2016 levels, but strong export markets should partially offset the increase. As we continue with the integration of Hillshire Brands, we expect to realize synergies of around $675 million in fiscal 2017 from the acquisition as well as our profit improvement plan for our legacy Prepared Foods business with some incremental synergies expected to be realized in fiscal 2018. The majority of these benefits will be realized in our Prepared Foods segment.
• "Our Beef and Pork segments generated tremendous operating income in the second quarter, allowing us to invest in the long-term growth of our value-added businesses. Our Prepared Foods segment results were negatively affected by the on-going challenges in our pizza toppings and ingredients meats businesses discussed last quarter. We expect our results to improve as we continue to address operational efficiency and capacity through fiscal year 2018. Unfortunately, we experienced fires in two chicken plants in our second quarter. Had it not been for the fires, our Chicken segment return on sales would have been within its normalized range."

AdvancePierre Foods (APFH) to be acquired by Tyson Foods (TSN) for for $4.2 bln or $40.25 per share

• Tyson Foods Inc. (TSN) said early Tuesday that it has agreed to acquire AdvancePierre Foods Holdings Inc. (APFH) in a deal valued at $4.2 billion, including $3.2 billion in equity value and $1.1 billion in assumption of AdvancePierre debt. Tyson's offer is $40.25 per share for AdvancePierre's outstanding shares, above the $36.67 value of AdvancePierre shares as of Monday's close. 
• The deal is expected to close in the third quarter. Tyson shares have surged 4.4% over the last three months, and AdvancePierre shares have surged 33.2%, compared with a 3.3% rise in the S&P 500.

 

 

Demand for meat-based snacks has been growing as Americans shun candy and overly processed foods. This has led to a spurt in buyouts of meat snack makers in recent years, including chocolate maker Hershey's (HSY) acquisition of Krave beef jerky and Conagra Brands Inc's (CAG) deal to buy Duke's meat snacks.

AdvancePierre, whose shares hit a record high of $40.29, sells a variety of meat sandwiches and snacks through its Landshire and Barber Foods brands.

Tyson's prepared food brands such as Jimmy Dean, Hillshire Farm and Ball Park primarily make products such as pepperoni, bacon, hot dogs, pizza crusts and toppings.

Funds affiliated with investment manager Oaktree Capital Management LP, which own about 42 percent of AdvancePierre, have agreed to support the deal.

Tyson had said on Monday it was exploring a sale of its three non-protein brands, including Sara Lee Frozen Bakery, to sharpen its focus on its core businesses.

This week's biggest % winners & losers: Nov 21 - 25, 2016 (wk 47)

The following are this week's top 20 percentage gainers and top 20 percentage losers, categorized by sectors (over $300 mln market cap and 100K average daily volume).

This week's top 20 % gainers

• Materials:CLF (9.88 +33.27%),HBM (7 +22.81%),PPP (0.91 +19.05%),HW (23.71 +18.02%),AKS (9.38 +17.79%),FCX (15.99 +16.46%),VALE (8.43 +16.44%),SID (3.72 +16.09%),TMST (15.67 +15.22%),
• Industrials:IIIN (42.14 +25.8%),DE (104.24 +13.36%),GFF (24.15 +13.11%),
• Consumer Discretionary:KNDI (4.7 +28.77%),CAL (33.03 +19.16%),LOCK (23.97 +15.49%),BURL (88.71 +13.82%),
• Information Technology:SFUN (3.44 +20.28%),AMCC (8.45 +16.55%),
• Financials:FNBC (7.38 +17.06%),LFC (14.61 +13.83%),

This week's top 20 % losers

• Healthcare: JUNO (22.77 -23.92%),CXRX (2.52 -23.45%),HRTX (15.6 -17.89%),PDLI (2.54 -16.61%),PDCO (38.92 -16.28%),SGMO (3.47 -13.36%),QHC (6.13 -12.18%),NVCR (8.75 -12.06%),MNKD (0.56 -10.08%),LLY (69 -10%),
• Industrials:DY (75.54 -17.72%),
• Consumer Discretionary:VIPS (12.03 -12.03%),URBN (33.63 -10.36%),
• Information Technology:NMBL (7.74 -16.83%),PANW (141.31 -12.42%),
• Energy:ENBL (14.62 -10.2%),ETP (35.36 -10.19%),
• Consumer Staples:CVGW (56.55 -12.93%),TSN (59.56 -11.58%),
• Utilities:FGP (6.51 -13.2%),

=Tyson Foods (TSN) earnings on Mon 21 Nov 2016 (b/o)

Tyson Foods misses by $0.20, misses on revs; guides FY17 EPS below consensus; raises dividend 50%; appoints President Tom Hayes to succeed Donnie Smith as CEO :

• Reports Q4 (Sep) earnings of $0.96 per share, excluding non-recurring items, $0.20 worse than the Capital IQ Consensus of $1.16; revenues fell 12.8% year/year to $9.16 bln vs the $9.41 bln Capital IQ Consensus.
  • Chicken volume -10% price +3.5%; Beef volume -7.4%, price -14.9%; Pork volume -6.8%, price +1%; prepared foods -4.8%, price -3.9%
• Co issues downside guidance for FY17, sees EPS of $4.70-4.85, excluding non-recurring items, vs. $4.99 Capital IQ Consensus Estimate. 
• "The first seven weeks of fiscal 2017 have been phenomenal as we are off to the best start we have ever experienced."
• "We produced record earnings per share, operating income and operating margin. "We're growing where we want to grow by selling more branded, higher margin products. Sales volume was up in our Core 9 product lines at retail and our top tier products in foodservice. "The Prepared Foods segment had a record margin for the year, while simultaneously driving industry-leading category growth at retail. The Pork segment had a record year as well, while the Chicken segment nearly matched last year's record margin. The Beef segment is a great turnaround story, producing normalized margins for the year."
• "In fiscal 2016, we repurchased more than 28 million shares of our stock for $1.7 billion.
• This week the Board of Directors increased the quarterly dividend by $0.075, or 50%, to $0.225 per share. This continues our expectation to increase dividends for Class A shares by at least $0.10 per share annually." 
• Tom Hayes, President of Tyson Foods, will succeed Donnie Smith as Chief Executive Officer on December 31, 2016. Hayes will continue to serve as President and has been appointed to the Board of Directors, effective immediately. Smith, who has been CEO of Tyson Foods since November 2009, will be available to consult with the Company for a three-year period.

=Tyson Foods (TSN) reported 4Q earnings on Fri 5 Feb 2016 (before open)

** charts after earnings **

Tyson Foods beats by $0.26, misses on revs; guides FY16 revs below consensus :

• Reports Q1 (Dec) earnings of $1.15 per share, excluding non-recurring items,$0.26 better than the Capital IQ Consensus of $0.89; revenues fell 15.4% year/year to $9.15 bln vs the $10 bln Capital IQ Consensus.
• Co issues downside guidance for FY16, sees FY16 revs of $37 bln vs. $39.83 bln Capital IQ Consensus Estimate, prior guidance $41 bln.
• In fiscal 2016, the company expects domestic protein production (chicken, beef, pork and turkey) to increase approximately 2-3% from fiscal 2015 levels and moderate export growth. As a result, increased domestic availability could pressure protein pricing.
• Regarding Hillshire Brands, the co expects to realize incremental synergies in excess of $200 mln above the amount of synergies realized in fiscal 2015. In total, the co expects synergies of more than $500 mln in fiscal 2016 and more than $700 mln in fiscal 2017 from the acquisition as well as our profit improvement plan for legacy Prepared Foods business.

==Tyson Foods (TSN) reported earnings Mon 23 Nov 2015 (before open)

** charts before earnings **



** charts after earnings **

Tyson Foods misses by $0.05, beats on revs; guides FY16 above estimates :

• Reports Q4 (Sep) earnings of $0.83 per share, excluding non-recurring items, $0.05 worse than the Capital IQ Consensus of $0.88; revenues rose 4.0% year/year to $10.51 bln vs the $10.23 bln Capital IQ Consensus.
• Co issues guidance for FY16, sees EPS of $3.50-3.65 vs. $3.53 Capital IQ Consensus; revs $41 bln vs. $40.38 bln Capital IQ Consensus Estimate. 
• "In fiscal 2016, we expect domestic protein production (chicken, beef, pork and turkey) to increase ~3% from fiscal 2015 levels. Additionally, we expect disruptions related to export bans to continue in fiscal 2016. As we proceed with the integration of Hillshire Brands, we expect to realize synergies of more than $500 million in fiscal 2016 and more than $700 million in fiscal 2017 from the acquisition as well as our profit improvement plan for our legacy Prepared Foods business. The majority of these benefits will be realized in our Prepared Foods segment."
• "In fiscal 2016, we expect to increase share repurchases under our share repurchase program. As of October 3, 2015, 21.1 million shares remain authorized for repurchases. During the first quarter of fiscal 2016 as of Nov 20, 2015, we have repurchased ~4.4 million shares for $200 million, excluding shares repurchased to offset dilution from our equity compensation plans."