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Consumer Sector Overview for the Week of September 25–29

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Part 2
Consumer Sector Overview for the Week of September 25–29 PART 2 OF 5

Top Gainers in the Consumer Sector: September 25–29

Top gainers in the consumer sector

Tyson Foods (TSN) shares rose last week after the company announced a higher adjusted EPS (earnings per share) guidance for fiscal 2017 and 2018 and cost savings targets for 2018–2020. The adjusted EPS guidance for fiscal 2017 rose due to better-than-expected earnings from the beef segment. The guidance is $5.20–$5.30 per share—up from $4.95–$5.05 per share. The fiscal 2018 guidance is now $5.70–$5.85 per share. During fiscal 2018, 2019, and 2020, Tyson expects cumulative net savings of $200 million, $400 million, and $600 million. The company plans to cut 450 jobs across its corporate offices in Springdale, Chicago, and Cincinnati. On a YTD (year-to-date) basis, Tyson’s shares are 14.2% higher as of September 22.

Top Gainers in the Consumer Sector: September 25–29

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McCormick (MKC) announced its results for fiscal 3Q17 on September 28, 2017, before the market opened. Its earnings of $1.12 per share increased in the third quarter and surpassed analysts’ estimate of $1.05. The adjusted EPS rose 8.7% YoY (year-over-year). The revenue exceeded analysts’ estimates by 0.9%. The revenue for the quarter rose 8.3% YoY to $1.18 billion in 3Q17. The higher sales were driven by growth in the consumer segment. McCormick’s shares rose 6.8% last week. The shares have risen 10% on a YTD basis.

Hormel Foods’ (HRL) stock rose 2.8% last week after the company announced its national partnership with Meals on Wheels America to help fight senior hunger. To launch the partnership, the Hormel Compleats brand will join Meals on Wheels America for two events in October.

On September 25, Genuine Parts Company (GPC) announced its entry into a definitive agreement to acquire Alliance Automotive Group from private equity funds managed by Blackstone and AAG’s co-founders. The deal, valued at ~$2 billion, is expected to close in 4Q17. The stock rose 8.7% last week.

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