Tyson Foods (NYSE:TSN) Trading Up 2.6% – Here’s Why

Tyson Foods, Inc. (NYSE:TSN) traded up 2.6% during mid-day trading on Monday . The company traded as high as $63.80 and last traded at $64.01. 385,538 shares changed hands during mid-day trading, a decline of 83% from the average session volume of 2,296,268 shares. The stock had previously closed at $62.37.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on TSN shares. Barclays dropped their price target on Tyson Foods from $76.00 to $75.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 21st. Stephens lifted their target price on shares of Tyson Foods from $60.00 to $63.00 and gave the stock an “equal weight” rating in a research report on Tuesday, February 4th. Piper Sandler upgraded shares of Tyson Foods from an “underweight” rating to a “neutral” rating and set a $58.00 price target for the company in a research report on Tuesday, February 4th. UBS Group initiated coverage on shares of Tyson Foods in a research note on Friday, January 10th. They issued a “neutral” rating and a $62.00 price objective for the company. Finally, HSBC raised shares of Tyson Foods from a “reduce” rating to a “hold” rating in a research note on Monday, February 3rd. Ten research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $61.10.

Tyson Foods Trading Up 2.1 %

The stock has a market capitalization of $22.68 billion, a price-to-earnings ratio of 21.50, a price-to-earnings-growth ratio of 0.74 and a beta of 0.72. The company has a current ratio of 2.11, a quick ratio of 1.04 and a debt-to-equity ratio of 0.52. The company has a fifty day moving average of $59.11 and a two-hundred day moving average of $59.59.

Tyson Foods (NYSE:TSN) last posted its quarterly earnings data on Monday, February 3rd. The company reported $1.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.79 by $0.35. Tyson Foods had a net margin of 1.96% and a return on equity of 6.87%. The business had revenue of $13.62 billion during the quarter, compared to the consensus estimate of $13.46 billion. During the same period in the prior year, the firm earned $0.69 EPS. Tyson Foods’s quarterly revenue was up 2.3% compared to the same quarter last year. On average, research analysts expect that Tyson Foods, Inc. will post 3.8 EPS for the current year.

Tyson Foods Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Friday, May 30th will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 3.14%. The ex-dividend date of this dividend is Friday, May 30th. Tyson Foods’s dividend payout ratio (DPR) is currently 67.57%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of TSN. Norges Bank bought a new position in Tyson Foods during the fourth quarter worth $175,086,000. State Street Corp increased its holdings in shares of Tyson Foods by 6.9% during the 3rd quarter. State Street Corp now owns 13,304,869 shares of the company’s stock worth $792,438,000 after purchasing an additional 859,351 shares during the period. Arrowstreet Capital Limited Partnership raised its position in shares of Tyson Foods by 83.5% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,211,722 shares of the company’s stock valued at $69,601,000 after buying an additional 551,530 shares during the last quarter. Barclays PLC lifted its stake in shares of Tyson Foods by 66.1% in the third quarter. Barclays PLC now owns 1,122,285 shares of the company’s stock valued at $66,841,000 after buying an additional 446,648 shares during the period. Finally, Bank of New York Mellon Corp grew its position in Tyson Foods by 14.8% during the fourth quarter. Bank of New York Mellon Corp now owns 3,315,701 shares of the company’s stock worth $190,454,000 after buying an additional 427,582 shares in the last quarter. 67.00% of the stock is currently owned by institutional investors and hedge funds.

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.