Tyson Foods (NYSE:TSN) Sets New 1-Year Low Following Weak Earnings

Posted by Defense World Staff on May 10th, 2023

Shares of Tyson Foods, Inc. (NYSE:TSN – Get Rating) hit a new 52-week low during mid-day trading on Monday following a weaker than expected earnings announcement. The company traded as low as $54.70 and last traded at $54.70, with a volume of 198347 shares traded. The stock had previously closed at $60.69.

The company reported ($0.04) EPS for the quarter, missing analysts’ consensus estimates of $0.80 by ($0.84). Tyson Foods had a return on equity of 8.04% and a net margin of 2.81%. The company had revenue of $13.13 billion during the quarter, compared to analysts’ expectations of $13.62 billion. During the same quarter in the previous year, the company earned $2.29 EPS. The firm’s quarterly revenue was up .1% compared to the same quarter last year.

Tyson Foods Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 15th. Stockholders of record on Thursday, June 1st will be paid a $0.48 dividend. The ex-dividend date is Wednesday, May 31st. This represents a $1.92 dividend on an annualized basis and a dividend yield of 3.93%. Tyson Foods’s payout ratio is 28.53%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on TSN. BMO Capital Markets lowered their price target on Tyson Foods from $66.00 to $48.00 in a research report on Tuesday. Sanford C. Bernstein lowered their price target on Tyson Foods from $75.00 to $64.00 in a research report on Tuesday. The Goldman Sachs Group lowered their price target on Tyson Foods from $66.00 to $64.00 and set a “neutral” rating on the stock in a research report on Thursday, April 20th. StockNews.com assumed coverage on Tyson Foods in a report on Thursday, March 16th. They set a “hold” rating for the company. Finally, Barclays reduced their target price on Tyson Foods from $58.00 to $52.00 in a report on Tuesday. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $60.11.

Institutional Investors Weigh In On Tyson Foods

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Hartford Investment Management Co. increased its holdings in shares of Tyson Foods by 14.6% in the first quarter. Hartford Investment Management Co. now owns 24,429 shares of the company’s stock valued at $1,449,000 after purchasing an additional 3,110 shares during the last quarter. 1834 Investment Advisors Co. acquired a new stake in Tyson Foods during the first quarter worth $388,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management increased its stake in Tyson Foods by 28.0% during the first quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 11,575 shares of the company’s stock worth $687,000 after acquiring an additional 2,530 shares during the last quarter. Spire Wealth Management increased its stake in Tyson Foods by 23.3% during the first quarter. Spire Wealth Management now owns 1,461 shares of the company’s stock worth $87,000 after acquiring an additional 276 shares during the last quarter. Finally, Kornitzer Capital Management Inc. KS increased its stake in Tyson Foods by 34.9% during the first quarter. Kornitzer Capital Management Inc. KS now owns 43,400 shares of the company’s stock worth $2,574,000 after acquiring an additional 11,230 shares during the last quarter. Institutional investors and hedge funds own 66.64% of the company’s stock.

Tyson Foods Stock Performance

The firm has a 50 day simple moving average of $59.16 and a 200-day simple moving average of $62.43. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.66 and a quick ratio of 0.66. The company has a market cap of $17.36 billion, a price-to-earnings ratio of 7.25 and a beta of 0.75.

Tyson Foods Company Profile

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Tyson Foods, Inc engages in the production of frozen and refrigerated food products. It operates through the following segments: Beef, Pork, Chicken, and Prepared Foods. The Beef segment includes processing live fed cattle and fabricating dressed beef carcasses into primal and sub-primal meat cuts and case-ready products.