Tyson Foods, Inc. (TSN) to Issue Quarterly Dividend of $0.46 on June 15th

Tyson Foods, Inc. (NYSE:TSNGet Rating) declared a quarterly dividend on Friday, February 11th, RTT News reports. Stockholders of record on Wednesday, June 1st will be given a dividend of 0.46 per share on Wednesday, June 15th. This represents a $1.84 annualized dividend and a dividend yield of 2.02%. The ex-dividend date is Tuesday, May 31st. This is an increase from Tyson Foods’s previous quarterly dividend of $0.45.

Tyson Foods has raised its dividend by an average of 10.3% annually over the last three years and has raised its dividend annually for the last 11 consecutive years. Tyson Foods has a payout ratio of 23.0% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Tyson Foods to earn $7.88 per share next year, which means the company should continue to be able to cover its $1.84 annual dividend with an expected future payout ratio of 23.4%.

Shares of TSN opened at $91.04 on Friday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.86 and a current ratio of 1.93. The stock has a 50 day simple moving average of $91.05 and a 200 day simple moving average of $89.46. Tyson Foods has a 52-week low of $69.88 and a 52-week high of $100.72. The firm has a market capitalization of $33.00 billion, a PE ratio of 8.19, a P/E/G ratio of 1.24 and a beta of 0.69.

Tyson Foods (NYSE:TSNGet Rating) last issued its quarterly earnings data on Monday, May 9th. The company reported $2.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.83 by $0.46. Tyson Foods had a return on equity of 21.13% and a net margin of 7.90%. The business had revenue of $13.12 billion during the quarter, compared to analyst estimates of $12.84 billion. During the same period in the previous year, the firm earned $1.34 EPS. Tyson Foods’s quarterly revenue was up 16.1% compared to the same quarter last year. Equities research analysts predict that Tyson Foods will post 9.06 EPS for the current fiscal year.

Several equities analysts recently issued reports on TSN shares. Stephens boosted their price objective on Tyson Foods from $110.00 to $115.00 and gave the company an “overweight” rating in a research report on Tuesday, February 8th. StockNews.com cut Tyson Foods from a “strong-buy” rating to a “buy” rating in a research note on Friday, May 13th. Piper Sandler cut Tyson Foods from a “neutral” rating to an “underweight” rating and cut their target price for the company from $87.00 to $81.00 in a research note on Tuesday, May 3rd. Credit Suisse Group boosted their target price on Tyson Foods from $88.00 to $100.00 and gave the company a “neutral” rating in a research note on Tuesday, February 8th. Finally, JPMorgan Chase & Co. boosted their target price on Tyson Foods from $88.00 to $91.00 and gave the company a “neutral” rating in a research note on Tuesday, February 8th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Tyson Foods has a consensus rating of “Hold” and an average target price of $98.00.

In other news, EVP Amy Tu sold 3,346 shares of Tyson Foods stock in a transaction dated Wednesday, May 11th. The shares were sold at an average price of $90.30, for a total value of $302,143.80. Following the completion of the transaction, the executive vice president now owns 51,381 shares of the company’s stock, valued at approximately $4,639,704.30. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Noel W. White sold 22,540 shares of Tyson Foods stock in a transaction dated Thursday, March 17th. The shares were sold at an average price of $87.19, for a total transaction of $1,965,262.60. The disclosure for this sale can be found here. In the last three months, insiders sold 30,936 shares of company stock valued at $2,752,206. Insiders own 1.85% of the company’s stock.

Hedge funds have recently made changes to their positions in the stock. Zullo Investment Group Inc. bought a new stake in shares of Tyson Foods during the 4th quarter worth about $25,000. First Community Trust NA bought a new stake in shares of Tyson Foods during the 4th quarter worth about $61,000. Brown Brothers Harriman & Co. boosted its holdings in shares of Tyson Foods by 2,040.0% during the 1st quarter. Brown Brothers Harriman & Co. now owns 1,070 shares of the company’s stock worth $96,000 after buying an additional 1,020 shares during the period. Zions Bancorporation N.A. boosted its holdings in shares of Tyson Foods by 374.1% during the 1st quarter. Zions Bancorporation N.A. now owns 1,522 shares of the company’s stock worth $136,000 after buying an additional 1,201 shares during the period. Finally, Covestor Ltd boosted its holdings in shares of Tyson Foods by 116.6% during the 1st quarter. Covestor Ltd now owns 1,874 shares of the company’s stock worth $168,000 after buying an additional 1,009 shares during the period. 66.94% of the stock is owned by institutional investors and hedge funds.

About Tyson Foods (Get Rating)

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 live market 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; and supplies poultry breeding stock; sells specialty products, such as hides and meats.

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