Macro Tailwinds Set to Improve Prospects for No-Moat Tyson
After no-moat Tyson reported second-quarter results, we anticipate making a mid-single-digit increase to our $68 fair value estimate to account for sustained strength in beef margins, lower-than-expected feed costs, and time value of money adjustments. However, after the stock’s 40% year-to-date return, we view Tyson as fairly valued and suggest investors await a more attractive opportunity to build a position.Management struck a bullish tone regarding the potential impact that China’s African ...
Tyson Foods is a food company. The company's operations consist of breeding stock, contract farmers, feed production, processing, further-processing, marketing and transportation of chicken and related allied products, including animal and pet food ingredients. Through its wholly-owned subsidiary, Cobb-Vantress, Inc., the company is engaged as poultry breeding stock supplier. The company also processes live fed cattle and hogs and fabricates dressed beef and pork carcasses into primal and sub-primal meat cuts, case-ready beef and pork and fully-cooked meats. The company produces a range of fresh, frozen and refrigerated food products. The company operates in Beef, Pork, Chicken and Prepared Foods segments.
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Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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