Tyson Foods (NYSE:TSN) Cut to “Underweight” at Piper Sandler

Piper Sandler lowered shares of Tyson Foods (NYSE:TSN) from a neutral rating to an underweight rating in a research report report published on Wednesday, MarketBeat Ratings reports. The firm currently has $50.00 price target on the stock, down from their previous price target of $57.00.

Several other analysts also recently commented on the company. Barclays raised their target price on Tyson Foods from $72.00 to $76.00 and gave the company an overweight rating in a research note on Monday, September 9th. BMO Capital Markets boosted their price objective on Tyson Foods from $58.00 to $60.00 and gave the company a market perform rating in a report on Tuesday, August 6th. StockNews.com upgraded Tyson Foods from a hold rating to a buy rating in a report on Tuesday, August 6th. JPMorgan Chase & Co. boosted their price target on shares of Tyson Foods from $61.00 to $63.00 and gave the company a neutral rating in a research note on Tuesday, August 6th. Finally, Bank of America dropped their price objective on shares of Tyson Foods from $62.00 to $60.00 and set a neutral rating on the stock in a research note on Wednesday, July 10th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of Hold and an average target price of $60.67.

Tyson Foods Price Performance

Shares of TSN opened at $59.68 on Wednesday. The firm has a market cap of $21.31 billion, a PE ratio of -33.53, a price-to-earnings-growth ratio of 0.42 and a beta of 0.78. Tyson Foods has a 52-week low of $44.94 and a 52-week high of $66.88. The business’s 50 day moving average price is $62.06 and its two-hundred day moving average price is $59.47. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.95 and a current ratio of 1.82.

Tyson Foods (NYSE:TSN) last released its earnings results on Monday, August 5th. The company reported $0.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.65 by $0.22. The company had revenue of $13.35 billion for the quarter, compared to the consensus estimate of $13.21 billion. Tyson Foods had a negative net margin of 0.01% and a positive return on equity of 4.97%. Tyson Foods’s quarterly revenue was up 1.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.15 EPS. On average, equities analysts anticipate that Tyson Foods will post 2.82 EPS for the current year.

Tyson Foods Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be paid a $0.49 dividend. The ex-dividend date is Friday, November 29th. This represents a $1.96 annualized dividend and a yield of 3.28%. Tyson Foods’s dividend payout ratio (DPR) is -110.11%.

Hedge Funds Weigh In On Tyson Foods

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Pzena Investment Management LLC lifted its holdings in Tyson Foods by 79.2% during the first quarter. Pzena Investment Management LLC now owns 10,550,056 shares of the company’s stock worth $619,605,000 after acquiring an additional 4,662,332 shares during the period. Davis Selected Advisers bought a new stake in shares of Tyson Foods during the 2nd quarter worth $177,439,000. Capital Research Global Investors boosted its holdings in shares of Tyson Foods by 153.2% in the 4th quarter. Capital Research Global Investors now owns 4,827,091 shares of the company’s stock worth $259,456,000 after buying an additional 2,920,479 shares during the last quarter. Royal London Asset Management Ltd. grew its position in Tyson Foods by 76.9% during the fourth quarter. Royal London Asset Management Ltd. now owns 3,369,708 shares of the company’s stock valued at $181,122,000 after buying an additional 1,465,139 shares during the period. Finally, Wellington Management Group LLP increased its holdings in Tyson Foods by 6.2% during the fourth quarter. Wellington Management Group LLP now owns 10,335,646 shares of the company’s stock worth $555,541,000 after buying an additional 606,518 shares during the last quarter. Hedge funds and other institutional investors own 67.00% of the company’s stock.

About Tyson Foods

Tyson Foods, Inc, together with its subsidiaries, operates as a food company worldwide. It operates through four segments: Beef, Pork, Chicken, and Prepared Foods. The company processes live fed cattle and hogs; fabricates dressed beef and pork carcasses into primal and sub-primal meat cuts, as well as case ready beef and pork, and fully cooked meats; raises and processes chickens into fresh, frozen, and value-added chicken products, including breaded chicken strips, nuggets, patties, and other ready-to-fix or fully cooked chicken parts; and supplies poultry breeding stock.