Tyson Foods (NYSE:TSN) Rating Increased to Overweight at Piper Sandler

Piper Sandler upgraded shares of Tyson Foods (NYSE:TSN) from a neutral rating to an overweight rating in a research note released on Monday morning, Marketbeat Ratings reports. They currently have $75.00 target price on the stock, up from their prior target price of $61.00.

A number of other equities research analysts also recently weighed in on TSN. JPMorgan Chase & Co. decreased their price objective on Tyson Foods from $67.00 to $65.00 and set a “neutral” rating on the stock in a report on Tuesday, March 24th. BMO Capital Markets lifted their price objective on Tyson Foods from $67.00 to $73.00 and gave the company an “outperform” rating in a report on Tuesday, February 3rd. Argus raised Tyson Foods to a “hold” rating in a report on Friday, February 6th. Sanford C. Bernstein reaffirmed a “market perform” rating and set a $69.00 price objective on shares of Tyson Foods in a report on Tuesday, February 3rd. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Tyson Foods in a report on Monday, December 29th. Five investment analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $65.92.

Tyson Foods Trading Down 0.1%

Shares of TSN opened at $64.56 on Monday. Tyson Foods has a 12-month low of $50.56 and a 12-month high of $66.41. The company has a quick ratio of 0.66, a current ratio of 1.53 and a debt-to-equity ratio of 0.41. The firm has a market capitalization of $22.73 billion, a price-to-earnings ratio of 115.29, a P/E/G ratio of 1.40 and a beta of 0.44. The stock’s 50-day moving average price is $63.17 and its 200 day moving average price is $58.38.

Tyson Foods (NYSE:TSN) last issued its quarterly earnings results on Monday, February 2nd. The company reported $0.97 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.01 by ($0.04). Tyson Foods had a net margin of 0.36% and a return on equity of 7.67%. The firm had revenue of $14.31 billion for the quarter, compared to the consensus estimate of $14.11 billion. During the same quarter in the prior year, the firm earned $1.14 earnings per share. The company’s revenue was up 5.1% on a year-over-year basis. As a group, research analysts predict that Tyson Foods will post 3.8 earnings per share for the current year.

Tyson Foods Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Monday, June 1st will be issued a $0.51 dividend. This represents a $2.04 annualized dividend and a dividend yield of 3.2%. The ex-dividend date of this dividend is Monday, June 1st. Tyson Foods’s payout ratio is presently 364.29%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Harbor Capital Advisors Inc. boosted its holdings in shares of Tyson Foods by 93.1% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 473 shares of the company’s stock worth $26,000 after acquiring an additional 228 shares in the last quarter. Root Financial Partners LLC acquired a new position in shares of Tyson Foods in the 3rd quarter worth approximately $28,000. City Holding Co. acquired a new position in Tyson Foods during the 4th quarter worth $29,000. Cary Street Partners Investment Advisory LLC lifted its holdings in Tyson Foods by 62.3% during the 4th quarter. Cary Street Partners Investment Advisory LLC now owns 516 shares of the company’s stock worth $30,000 after buying an additional 198 shares in the last quarter. Finally, Activest Wealth Management lifted its holdings in Tyson Foods by 3,842.9% during the 4th quarter. Activest Wealth Management now owns 552 shares of the company’s stock worth $32,000 after buying an additional 538 shares in the last quarter. 67.00% of the stock is owned by institutional investors and hedge funds.

About Tyson Foods

Tyson Foods, Inc (NYSE: TSN) is a multinational food company primarily engaged in the production, processing and marketing of protein-based and prepared food products. Founded in 1935 and headquartered in Springdale, Arkansas, the company is one of the world’s largest processors of chicken, beef and pork. Its operations span live animal procurement and farming relationships through slaughter, further processing and distribution, supplying raw protein and value-added prepared foods to retail, foodservice and industrial customers.

The company’s product portfolio covers fresh and frozen meats, branded and private-label prepared foods, and a range of value-added items such as ready-to-eat and ready-to-cook meals, snack and sandwich meats.