Tyson Foods (NYSE:TSN) Downgraded to Underweight at Piper Sandler

Piper Sandler downgraded shares of Tyson Foods (NYSE:TSN) from a neutral rating to an underweight rating in a report published on Wednesday, Marketbeat Ratings reports. Piper Sandler currently has $50.00 target price on the stock, down from their previous target price of $57.00.

TSN has been the topic of several other reports. JPMorgan Chase & Co. upped their price target on Tyson Foods from $61.00 to $63.00 and gave the company a neutral rating in a research report on Tuesday, August 6th. BMO Capital Markets increased their price target on shares of Tyson Foods from $58.00 to $60.00 and gave the stock a market perform rating in a research report on Tuesday, August 6th. StockNews.com raised shares of Tyson Foods from a hold rating to a buy rating in a research report on Tuesday, August 6th. Bank of America cut their target price on shares of Tyson Foods from $62.00 to $60.00 and set a neutral rating for the company in a research report on Wednesday, July 10th. Finally, Barclays boosted their price target on shares of Tyson Foods from $72.00 to $76.00 and gave the company an overweight rating in a report on Monday, September 9th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of Hold and an average target price of $60.67.

Tyson Foods Stock Performance

Shares of TSN opened at $57.96 on Wednesday. The company has a 50-day moving average of $62.13 and a two-hundred day moving average of $59.49. The stock has a market cap of $20.62 billion, a price-to-earnings ratio of -32.56, a PEG ratio of 0.42 and a beta of 0.78. 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 one year low of $44.94 and a one year high of $66.88.

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

Tyson Foods Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be issued a $0.49 dividend. This represents a $1.96 dividend on an annualized basis and a yield of 3.38%. The ex-dividend date of this dividend is Friday, November 29th. Tyson Foods’s dividend payout ratio is presently -110.11%.

Hedge Funds Weigh In On Tyson Foods

Several institutional investors have recently bought and sold shares of TSN. Sanctuary Advisors LLC bought a new position in shares of Tyson Foods in the 2nd quarter valued at approximately $1,284,000. New Wave Wealth Advisors LLC bought a new position in shares of Tyson Foods in the second quarter valued at approximately $5,434,000. B. Riley Wealth Advisors Inc. lifted its stake in shares of Tyson Foods by 51.7% in the second quarter. B. Riley Wealth Advisors Inc. now owns 7,551 shares of the company’s stock worth $431,000 after buying an additional 2,575 shares during the last quarter. Creative Planning boosted its holdings in shares of Tyson Foods by 110.3% during the 2nd quarter. Creative Planning now owns 67,958 shares of the company’s stock worth $3,883,000 after buying an additional 35,649 shares during the period. Finally, Copperwynd Financial LLC grew its stake in Tyson Foods by 12.1% in the 2nd quarter. Copperwynd Financial LLC now owns 11,492 shares of the company’s stock valued at $700,000 after buying an additional 1,244 shares during the last quarter. 67.00% of the stock is currently owned by institutional investors.

Tyson Foods Company Profile

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.