Tyson Foods (NYSE:TSN) Given New $62.00 Price Target at Bank of America

Tyson Foods (NYSE:TSN) had its target price cut by Bank of America from $65.00 to $62.00 in a research report sent to investors on Tuesday morning, Benzinga reports. They currently have a neutral rating on the stock.

A number of other brokerages also recently issued reports on TSN. Stephens initiated coverage on shares of Tyson Foods in a research report on Thursday, October 3rd. They issued an equal weight rating and a $57.00 price target on the stock. JPMorgan Chase & Co. upped their target price on Tyson Foods from $61.00 to $63.00 and gave the company a neutral rating in a research report on Tuesday, August 6th. Piper Sandler lowered Tyson Foods from a neutral rating to an underweight rating and dropped their price target for the company from $57.00 to $50.00 in a research note on Wednesday, September 25th. StockNews.com raised shares of Tyson Foods from a hold rating to a buy rating in a research report on Tuesday, August 6th. Finally, BMO Capital Markets boosted their target price on shares of Tyson Foods from $58.00 to $60.00 and gave the company a market perform rating in a research report on Tuesday, August 6th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of Hold and an average price target of $59.22.

Tyson Foods Price Performance

Shares of NYSE:TSN opened at $59.86 on Tuesday. 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 has a 52 week low of $44.94 and a 52 week high of $66.88. The firm has a market cap of $21.37 billion, a PE ratio of -33.63, a price-to-earnings-growth ratio of 0.34 and a beta of 0.78. The firm’s fifty day moving average is $61.63 and its 200-day moving average is $59.66.

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

Tyson Foods Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be issued a dividend of $0.49 per share. The ex-dividend date is Friday, November 29th. This represents a $1.96 annualized dividend and a yield of 3.27%. Tyson Foods’s payout ratio is -110.11%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in TSN. EverSource Wealth Advisors LLC lifted its position in Tyson Foods by 13.2% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,699 shares of the company’s stock valued at $103,000 after acquiring an additional 198 shares in the last quarter. Ridgewood Investments LLC increased its holdings in Tyson Foods by 0.8% during the 1st quarter. Ridgewood Investments LLC now owns 25,741 shares of the company’s stock worth $1,512,000 after purchasing an additional 199 shares in the last quarter. Unison Advisors LLC raised its stake in shares of Tyson Foods by 0.8% in the second quarter. Unison Advisors LLC now owns 25,547 shares of the company’s stock worth $1,460,000 after purchasing an additional 214 shares during the last quarter. Caprock Group LLC lifted its holdings in shares of Tyson Foods by 2.5% in the second quarter. Caprock Group LLC now owns 9,556 shares of the company’s stock valued at $546,000 after purchasing an additional 235 shares in the last quarter. Finally, WealthTrust Asset Management LLC boosted its position in shares of Tyson Foods by 1.2% during the second quarter. WealthTrust Asset Management LLC now owns 20,363 shares of the company’s stock valued at $1,164,000 after buying an additional 242 shares during the last quarter. 67.00% of the stock is currently owned by institutional investors and hedge funds.

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.