Tyson Foods (NYSE:TSN) Shares Gap Down to $60.52

Tyson Foods, Inc. (NYSE:TSN)’s stock price gapped down before the market opened on Wednesday . The stock had previously closed at $60.52, but opened at $58.65. Tyson Foods shares last traded at $58.50, with a volume of 429,241 shares.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on TSN. Piper Sandler downgraded Tyson Foods from a “neutral” rating to an “underweight” rating and dropped their price target for the company from $57.00 to $50.00 in a research note on Wednesday. StockNews.com raised shares of Tyson Foods from a “hold” rating to a “buy” rating in a report on Tuesday, August 6th. Barclays lifted their price objective on shares of Tyson Foods from $72.00 to $76.00 and gave the company an “overweight” rating in a research note on Monday, September 9th. JPMorgan Chase & Co. upped their target price on Tyson Foods from $61.00 to $63.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 6th. Finally, Bank of America decreased their price target on Tyson Foods from $62.00 to $60.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 10th. Two research 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’s stock. According to MarketBeat.com, Tyson Foods presently has a consensus rating of “Hold” and an average price target of $60.67.

Tyson Foods Stock Performance

The company has a market cap of $20.82 billion, a price-to-earnings ratio of -34.00, a P/E/G ratio of 0.42 and a beta of 0.78. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.95 and a current ratio of 1.82. The company has a fifty day moving average of $62.13 and a two-hundred day moving average of $59.49.

Tyson Foods (NYSE:TSN) last released its quarterly earnings results on Monday, August 5th. The company reported $0.87 EPS for the quarter, beating analysts’ consensus estimates of $0.65 by $0.22. The firm had revenue of $13.35 billion for the quarter, compared to analyst estimates of $13.21 billion. Tyson Foods had a positive return on equity of 4.97% and a negative net margin of 0.01%. The business’s revenue was up 1.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.15 EPS. Equities research analysts anticipate that Tyson Foods, Inc. will post 2.82 EPS for the current year.

Tyson Foods Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be issued 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 3.35%. Tyson Foods’s payout ratio is currently -110.11%.

Institutional Trading of Tyson Foods

Several hedge funds have recently modified their holdings of the stock. First Financial Corp IN bought a new stake in Tyson Foods in the 1st quarter valued at about $35,000. Pittenger & Anderson Inc. acquired a new position in shares of Tyson Foods during the first quarter worth approximately $42,000. Lindbrook Capital LLC lifted its holdings in shares of Tyson Foods by 42.0% in the 1st quarter. Lindbrook Capital LLC now owns 724 shares of the company’s stock worth $43,000 after purchasing an additional 214 shares in the last quarter. Mather Group LLC. bought a new stake in Tyson Foods during the 1st quarter valued at $49,000. Finally, Hantz Financial Services Inc. bought a new stake in Tyson Foods during the 2nd quarter valued at $54,000. 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.