Stephens Initiates Coverage on Tyson Foods (NYSE:TSN)

Stephens started coverage on shares of Tyson Foods (NYSE:TSN) in a research report report published on Thursday morning, MarketBeat Ratings reports. The brokerage issued an equal weight rating and a $57.00 target price on the stock.

Other equities analysts have also issued reports about the stock. JPMorgan Chase & Co. raised their target price on shares of Tyson Foods from $61.00 to $63.00 and gave the company a neutral rating in a report on Tuesday, August 6th. Piper Sandler lowered shares of Tyson Foods from a neutral rating to an underweight rating and decreased their price target for the company from $57.00 to $50.00 in a report on Wednesday, September 25th. Barclays lifted their price target on shares of Tyson Foods from $72.00 to $76.00 and gave the company an overweight rating in a report on Monday, September 9th. BMO Capital Markets lifted their price target on shares of Tyson Foods from $58.00 to $60.00 and gave the company a market perform rating in a report on Tuesday, August 6th. Finally, Bank of America decreased their price target on shares of Tyson Foods from $62.00 to $60.00 and set a neutral rating on the stock in a report on Wednesday, July 10th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of Hold and an average target price of $59.22.

Tyson Foods Stock Up 0.8 %

Shares of TSN stock opened at $58.55 on Thursday. The company has a market capitalization of $20.90 billion, a price-to-earnings ratio of -32.89, a P/E/G ratio of 0.34 and a beta of 0.78. Tyson Foods has a 12-month low of $44.94 and a 12-month high of $66.88. The firm has a fifty day moving average of $61.97 and a 200-day moving average of $59.64. The company has a quick ratio of 0.95, a current ratio of 1.82 and a debt-to-equity ratio of 0.53.

Tyson Foods (NYSE:TSN) last announced its quarterly earnings results on Monday, August 5th. The company reported $0.87 EPS for the quarter, beating analysts’ consensus estimates of $0.65 by $0.22. The firm had revenue of $13.35 billion during the quarter, compared to analysts’ expectations of $13.21 billion. Tyson Foods had a negative net margin of 0.01% and a positive return on equity of 4.97%. The company’s revenue for the quarter was up 1.6% compared to the same quarter last year. During the same quarter last year, the company posted $0.15 earnings per share. As a group, equities research analysts predict that Tyson Foods will post 2.82 earnings per share for the current fiscal year.

Tyson Foods Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Stockholders 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 dividend yield of 3.35%. Tyson Foods’s payout ratio is -110.11%.

Hedge Funds Weigh In On Tyson Foods

Several large investors have recently modified their holdings of the business. Pzena Investment Management LLC grew its stake 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 valued at $619,605,000 after acquiring an additional 4,662,332 shares in the last quarter. Davis Selected Advisers purchased a new position in Tyson Foods in the 2nd quarter worth approximately $177,439,000. Capital Research Global Investors grew its stake in 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 in the last quarter. Royal London Asset Management Ltd. grew its stake in Tyson Foods by 76.9% in the 4th quarter. Royal London Asset Management Ltd. now owns 3,369,708 shares of the company’s stock worth $181,122,000 after buying an additional 1,465,139 shares in the last quarter. Finally, Wellington Management Group LLP grew its stake in Tyson Foods by 6.2% in the 4th 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 in the last quarter. Hedge funds and other institutional investors own 67.00% of the company’s stock.

Tyson Foods Company Profile

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.