Tyson Foods Reaches New 52-Week High

by Lance Turner  on Thursday, Dec. 5, 2013 1:38 pm  

Tyson Foods Inc. headquarters in Springdale.

Shares of Tyson Foods Inc. of Springdale hit a 52-week high on Wednesday, trading at $33.50 before closing at $33.36.

Shares of the country's biggest meat processor (NYSE: TSN) have been on the rise since Nov. 1, but the price hike accelerated after Nov. 18, when it reported a 41 percent rise in fourth-quarter net income driven by higher beef and chicken sales.

For the fiscal year, Tyson earned $778 million, or $2.12 per share, up 33 percent from $583 million, or $1.58 per share, last year.

The earnings results also prompted a 50 percent spike in the company's dividend, which is now 7.5 cents, payable Dec. 13.

At least one Tyson Foods executive sold shares near the top of the stock's 52-week range. On Monday, Ken Kimbro, executive vice president and chief human resources officer, sold 45,167 shares of Tyson stock at an average price of $32, for a total value of $1.4 million.

 

 

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