Tyson Foods, Inc. (NYSE:TSN) Sees Significant Decrease in Short Interest

Tyson Foods, Inc. (NYSE:TSN) was the recipient of a large drop in short interest in September. As of September 15th, there was short interest totalling 4,910,000 shares, a drop of 19.5% from the August 31st total of 6,100,000 shares. Currently, 1.8% of the shares of the stock are sold short. Based on an average daily trading volume, of 2,060,000 shares, the short-interest ratio is currently 2.4 days.

Analyst Upgrades and Downgrades

TSN has been the topic of several research reports. BMO Capital Markets raised their target price on Tyson Foods from $58.00 to $60.00 and gave the company a “market perform” rating in a research report on Tuesday, August 6th. Barclays raised their target price on Tyson Foods from $72.00 to $76.00 and gave the stock an “overweight” rating in a research note on Monday, September 9th. JPMorgan Chase & Co. increased their price target on shares of Tyson Foods from $61.00 to $63.00 and gave the company a “neutral” rating in a research note on Tuesday, August 6th. Bank of America decreased their price objective on Tyson Foods from $62.00 to $60.00 and set a “neutral” rating on the stock in a report on Wednesday, July 10th. Finally, Piper Sandler downgraded Tyson Foods from a “neutral” rating to an “underweight” rating and reduced their target price for the company from $57.00 to $50.00 in a research report on Wednesday. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $60.67.

Tyson Foods Stock Up 0.6 %

Shares of Tyson Foods stock traded up $0.37 during trading on Friday, hitting $59.69. 1,572,457 shares of the stock were exchanged, compared to its average volume of 2,536,874. The stock has a market cap of $21.24 billion, a price-to-earnings ratio of -33.33, a price-to-earnings-growth ratio of 0.42 and a beta of 0.78. The firm’s 50-day moving average price is $62.06 and its 200 day moving average price is $59.47. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.82 and a quick ratio of 0.95. Tyson Foods has a 12-month low of $44.94 and a 12-month high of $66.88.

Tyson Foods (NYSE:TSN) last announced its quarterly earnings results on Monday, August 5th. The company reported $0.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.65 by $0.22. Tyson Foods had a positive return on equity of 4.97% and a negative net margin of 0.01%. The firm had revenue of $13.35 billion during the quarter, compared to the consensus estimate of $13.21 billion. During the same period in the prior year, the company posted $0.15 earnings per share. The firm’s quarterly revenue was up 1.6% compared to the same quarter last year. As a group, analysts forecast that Tyson Foods will post 2.82 earnings per share for the current fiscal year.

Tyson Foods Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be given a $0.49 dividend. The ex-dividend date is Friday, November 29th. This represents a $1.96 dividend on an annualized basis and a yield of 3.28%. Tyson Foods’s dividend payout ratio (DPR) is presently -110.11%.

Hedge Funds Weigh In On Tyson Foods

Several hedge funds have recently made changes to their positions in the company. EverSource Wealth Advisors LLC grew its stake in Tyson Foods by 13.2% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,699 shares of the company’s stock worth $103,000 after buying an additional 198 shares during the last quarter. Ridgewood Investments LLC raised its position in Tyson Foods by 0.8% in the 1st quarter. Ridgewood Investments LLC now owns 25,741 shares of the company’s stock valued at $1,512,000 after purchasing an additional 199 shares during the last quarter. Lindbrook Capital LLC boosted its stake in Tyson Foods by 42.0% during the 1st quarter. Lindbrook Capital LLC now owns 724 shares of the company’s stock worth $43,000 after purchasing an additional 214 shares during the period. Unison Advisors LLC grew its position in Tyson Foods by 0.8% during the 2nd quarter. Unison Advisors LLC now owns 25,547 shares of the company’s stock worth $1,460,000 after purchasing an additional 214 shares during the last quarter. Finally, Caprock Group LLC increased its stake in Tyson Foods by 2.5% in the second quarter. Caprock Group LLC now owns 9,556 shares of the company’s stock valued at $546,000 after purchasing an additional 235 shares during the period. Hedge funds and other institutional investors 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.