Tyson Foods (NYSE:TSN) Price Target Raised to $60.00

Tyson Foods (NYSE:TSN) had its target price boosted by Citigroup from $59.00 to $60.00 in a research report released on Tuesday morning, MarketBeat.com reports. Citigroup currently has a neutral rating on the stock.

Several other brokerages have also recently commented on TSN. HSBC upgraded shares of Tyson Foods from a “reduce” rating to a “hold” rating in a research report on Monday, February 3rd. Hsbc Global Res raised Tyson Foods from a “moderate sell” rating to a “hold” rating in a research note on Monday, February 3rd. Piper Sandler raised Tyson Foods from an “underweight” rating to a “neutral” rating and set a $58.00 price objective for the company in a research note on Tuesday, February 4th. Stephens increased their target price on Tyson Foods from $60.00 to $63.00 and gave the company an “equal weight” rating in a research note on Tuesday, February 4th. Finally, UBS Group started coverage on Tyson Foods in a research note on Friday, January 10th. They issued a “neutral” rating and a $62.00 price target for the company. Nine investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, Tyson Foods presently has an average rating of “Hold” and a consensus price target of $61.78.

Tyson Foods Stock Performance

Shares of Tyson Foods stock opened at $61.17 on Tuesday. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.11 and a quick ratio of 1.04. The firm has a 50 day simple moving average of $60.34 and a 200 day simple moving average of $59.62. Tyson Foods has a fifty-two week low of $53.61 and a fifty-two week high of $66.88. The firm has a market cap of $21.79 billion, a P/E ratio of 20.66, a P/E/G ratio of 0.74 and a beta of 0.62.

Tyson Foods (NYSE:TSN) last released its earnings results on Monday, February 3rd. The company reported $1.14 EPS for the quarter, beating the consensus estimate of $0.79 by $0.35. Tyson Foods had a return on equity of 6.87% and a net margin of 1.96%. The company had revenue of $13.62 billion during the quarter, compared to analysts’ expectations of $13.46 billion. During the same period last year, the firm earned $0.69 EPS. The business’s revenue for the quarter was up 2.3% on a year-over-year basis. Sell-side analysts predict that Tyson Foods will post 3.8 earnings per share for the current fiscal year.

Tyson Foods Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Friday, May 30th will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 3.27%. The ex-dividend date is Friday, May 30th. Tyson Foods’s dividend payout ratio is 67.57%.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in TSN. Vanguard Group Inc. grew its holdings in Tyson Foods by 0.9% during the fourth quarter. Vanguard Group Inc. now owns 35,714,357 shares of the company’s stock worth $2,051,433,000 after purchasing an additional 325,361 shares during the period. Geode Capital Management LLC lifted its stake in Tyson Foods by 2.6% in the 4th quarter. Geode Capital Management LLC now owns 6,994,356 shares of the company’s stock valued at $400,712,000 after purchasing an additional 178,785 shares during the last quarter. Northern Trust Corp increased its holdings in Tyson Foods by 2.6% in the 4th quarter. Northern Trust Corp now owns 4,700,796 shares of the company’s stock worth $270,014,000 after purchasing an additional 118,402 shares in the last quarter. Bank of New York Mellon Corp increased its position in Tyson Foods by 14.8% in the 4th quarter. Bank of New York Mellon Corp now owns 3,315,701 shares of the company’s stock valued at $190,454,000 after acquiring an additional 427,582 shares during the period. Finally, Norges Bank acquired a new position in shares of Tyson Foods in the fourth quarter worth approximately $175,086,000. Institutional investors and hedge funds own 67.00% 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 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.