Tyson Foods, Inc. (NYSE:TSN – Get 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.
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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