Tyson Foods, Inc. (NYSE:TSN – Get Rating) – Equities research analysts at Seaport Res Ptn lowered their Q1 2023 earnings per share (EPS) estimates for shares of Tyson Foods in a research note issued to investors on Tuesday, November 15th. Seaport Res Ptn analyst E. Larson now expects that the company will earn $1.68 per share for the quarter, down from their previous forecast of $2.05. The consensus estimate for Tyson Foods’ current full-year earnings is $6.90 per share. Seaport Res Ptn also issued estimates for Tyson Foods’ Q2 2023 earnings at $1.85 EPS, Q3 2023 earnings at $1.75 EPS, Q4 2023 earnings at $1.78 EPS, FY2023 earnings at $7.05 EPS, Q1 2024 earnings at $1.81 EPS, Q2 2024 earnings at $1.81 EPS, Q3 2024 earnings at $1.86 EPS and FY2024 earnings at $7.40 EPS.
Several other research firms have also weighed in on TSN. Argus lowered Tyson Foods from a “buy” rating to a “hold” rating in a report on Tuesday, September 13th. Credit Suisse Group decreased their price target on Tyson Foods to $75.00 in a report on Thursday. JPMorgan Chase & Co. decreased their price target on Tyson Foods from $75.00 to $70.00 and set a “neutral” rating on the stock in a report on Tuesday. Barclays decreased their price target on Tyson Foods from $100.00 to $89.00 and set an “equal weight” rating on the stock in a report on Tuesday, August 9th. Finally, Bank of America lowered Tyson Foods from a “neutral” rating to an “underperform” rating and decreased their price target for the company from $73.00 to $61.00 in a report on Wednesday, November 9th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $81.22.
Tyson Foods Stock Up 0.2 %
Tyson Foods (NYSE:TSN – Get Rating) last issued its quarterly earnings data on Monday, November 14th. The company reported $1.63 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.70 by ($0.07). The firm had revenue of $13.74 billion for the quarter, compared to analysts’ expectations of $13.49 billion. Tyson Foods had a return on equity of 16.62% and a net margin of 6.08%. The firm’s revenue was up 7.2% on a year-over-year basis. During the same period last year, the company earned $2.30 earnings per share.
Tyson Foods Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 15th. Stockholders of record on Wednesday, March 1st will be given a dividend of $0.48 per share. This is an increase from Tyson Foods’s previous quarterly dividend of $0.46. The ex-dividend date of this dividend is Tuesday, February 28th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 2.93%. Tyson Foods’s dividend payout ratio is presently 20.63%.
Hedge Funds Weigh In On Tyson Foods
A number of hedge funds and other institutional investors have recently made changes to their positions in TSN. Polaris Capital Management LLC grew its position in shares of Tyson Foods by 372.5% during the 2nd quarter. Polaris Capital Management LLC now owns 3,204,200 shares of the company’s stock worth $95,897,000 after buying an additional 2,526,087 shares in the last quarter. Vanguard Group Inc. boosted its position in Tyson Foods by 6.4% during the first quarter. Vanguard Group Inc. now owns 37,179,555 shares of the company’s stock valued at $3,332,404,000 after purchasing an additional 2,239,235 shares in the last quarter. AQR Capital Management LLC boosted its position in Tyson Foods by 87.7% during the second quarter. AQR Capital Management LLC now owns 3,246,414 shares of the company’s stock valued at $278,445,000 after purchasing an additional 1,517,165 shares in the last quarter. Walker Asset Management LLC boosted its position in Tyson Foods by 6,100.0% during the second quarter. Walker Asset Management LLC now owns 1,304,294 shares of the company’s stock valued at $116,854,000 after purchasing an additional 1,283,257 shares in the last quarter. Finally, Invesco Ltd. boosted its position in Tyson Foods by 33.3% during the first quarter. Invesco Ltd. now owns 3,653,878 shares of the company’s stock valued at $327,497,000 after purchasing an additional 912,421 shares in the last quarter. Institutional investors own 68.55% 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 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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