Tyson Foods (NYSE:TSN) Shares Gap Down to $62.02

Tyson Foods, Inc. (NYSE:TSN) shares gapped down prior to trading on Monday . The stock had previously closed at $62.02, but opened at $60.69. Tyson Foods shares last traded at $58.07, with a volume of 3,466,912 shares.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Stephens reaffirmed an “overweight” rating and set a $70.00 price target on shares of Tyson Foods in a research note on Tuesday, February 6th. Barclays upgraded Tyson Foods from an “underweight” rating to an “overweight” rating and boosted their target price for the stock from $53.00 to $69.00 in a report on Tuesday, April 16th. Bank of America raised shares of Tyson Foods from an “underperform” rating to a “neutral” rating and raised their target price for the company from $47.00 to $62.00 in a research note on Tuesday, February 6th. BMO Capital Markets upped their target price on shares of Tyson Foods from $52.00 to $55.00 and gave the company a “market perform” rating in a research note on Tuesday, February 6th. Finally, Citigroup increased their price target on shares of Tyson Foods from $57.00 to $62.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 3rd. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $59.20.

Tyson Foods Stock Down 5.7 %

The stock has a 50 day moving average price of $57.71 and a 200 day moving average price of $53.45. The company has a market cap of $20.85 billion, a P/E ratio of -23.00, a P/E/G ratio of 0.49 and a beta of 0.74. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.67 and a current ratio of 1.49.

Tyson Foods (NYSE:TSN) last posted its quarterly earnings data on Monday, May 6th. The company reported $0.62 earnings per share for the quarter, beating the consensus estimate of $0.39 by $0.23. Tyson Foods had a negative net margin of 1.62% and a positive return on equity of 2.23%. The company had revenue of $13.07 billion during the quarter, compared to analyst estimates of $13.16 billion. During the same quarter last year, the firm posted ($0.04) EPS. The business’s revenue for the quarter was down .5% on a year-over-year basis. Research analysts expect that Tyson Foods, Inc. will post 2.33 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, June 14th. Investors of record on Friday, May 31st will be given a $0.49 dividend. The ex-dividend date of this dividend is Friday, May 31st. This represents a $1.96 dividend on an annualized basis and a dividend yield of 3.35%. Tyson Foods’s dividend payout ratio (DPR) is -79.35%.

Insiders Place Their Bets

In related news, Director Noel W. White sold 9,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $53.75, for a total value of $483,750.00. Following the completion of the transaction, the director now owns 31,115 shares of the company’s stock, valued at approximately $1,672,431.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 2.05% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Cambridge Investment Research Advisors Inc. raised its stake in shares of Tyson Foods by 1.7% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 64,789 shares of the company’s stock worth $3,271,000 after purchasing an additional 1,068 shares in the last quarter. Raymond James & Associates grew its position in Tyson Foods by 2.6% in the third quarter. Raymond James & Associates now owns 183,668 shares of the company’s stock worth $9,273,000 after acquiring an additional 4,618 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Tyson Foods by 97.2% in the 3rd quarter. Bank of New York Mellon Corp now owns 4,250,887 shares of the company’s stock valued at $214,627,000 after purchasing an additional 2,095,597 shares during the last quarter. Lindbrook Capital LLC raised its holdings in Tyson Foods by 306.8% during the third quarter. Lindbrook Capital LLC now owns 716 shares of the company’s stock valued at $36,000 after buying an additional 540 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Tyson Foods by 4.2% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 109,160 shares of the company’s stock worth $5,511,000 after acquiring an additional 4,382 shares in the last quarter. Institutional investors and hedge funds 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.