Tyson Foods (NYSE:TSN) Upgraded at Piper Sandler

Piper Sandler upgraded shares of Tyson Foods (NYSE:TSN) from a neutral rating to an overweight rating in a research report sent to investors on Monday, MarketBeat reports. They currently have $75.00 price target on the stock, up from their previous price target of $61.00.

A number of other brokerages have also commented on TSN. Weiss Ratings reiterated a “hold (c-)” rating on shares of Tyson Foods in a research report on Monday, December 29th. BMO Capital Markets upped their target price on Tyson Foods from $67.00 to $73.00 and gave the company an “outperform” rating in a research report on Tuesday, February 3rd. Barclays upped their target price on Tyson Foods from $75.00 to $78.00 and gave the company an “overweight” rating in a research report on Tuesday, February 3rd. JPMorgan Chase & Co. dropped their target price on Tyson Foods from $67.00 to $65.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 24th. Finally, Mizuho assumed coverage on Tyson Foods in a research report on Thursday, March 26th. They issued an “outperform” rating and a $72.00 target price on the stock. Five equities research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $65.92.

Tyson Foods Stock Up 0.7%

NYSE:TSN opened at $64.63 on Monday. The company has a market cap of $22.76 billion, a PE ratio of 115.42, a P/E/G ratio of 1.40 and a beta of 0.44. Tyson Foods has a twelve month low of $50.56 and a twelve month high of $66.41. The company has a current ratio of 1.53, a quick ratio of 0.66 and a debt-to-equity ratio of 0.41. The company’s 50 day moving average is $63.14 and its two-hundred day moving average is $58.50.

Tyson Foods (NYSE:TSN) last issued its earnings results on Monday, February 2nd. The company reported $0.97 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.01 by ($0.04). The firm had revenue of $14.31 billion during the quarter, compared to analysts’ expectations of $14.11 billion. Tyson Foods had a return on equity of 7.67% and a net margin of 0.36%.The business’s revenue was up 5.1% on a year-over-year basis. During the same quarter last year, the business earned $1.14 EPS. Analysts anticipate that Tyson Foods will post 3.8 EPS for the current year.

Tyson Foods Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Monday, June 1st will be issued a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a dividend yield of 3.2%. The ex-dividend date of this dividend is Monday, June 1st. Tyson Foods’s payout ratio is 364.29%.

Institutional Investors Weigh In On Tyson Foods

Several hedge funds have recently modified their holdings of the company. Pzena Investment Management LLC boosted its stake in shares of Tyson Foods by 10.7% during the 4th quarter. Pzena Investment Management LLC now owns 15,310,513 shares of the company’s stock worth $897,502,000 after acquiring an additional 1,480,987 shares in the last quarter. State Street Corp boosted its stake in shares of Tyson Foods by 0.6% during the 3rd quarter. State Street Corp now owns 14,075,676 shares of the company’s stock worth $764,309,000 after acquiring an additional 85,282 shares in the last quarter. Davis Selected Advisers boosted its stake in shares of Tyson Foods by 28.8% during the 4th quarter. Davis Selected Advisers now owns 12,827,540 shares of the company’s stock worth $751,951,000 after acquiring an additional 2,865,413 shares in the last quarter. AQR Capital Management LLC increased its position in shares of Tyson Foods by 20.6% in the fourth quarter. AQR Capital Management LLC now owns 8,114,441 shares of the company’s stock valued at $475,669,000 after buying an additional 1,387,645 shares in the last quarter. Finally, Invesco Ltd. increased its position in shares of Tyson Foods by 1.4% in the fourth quarter. Invesco Ltd. now owns 6,055,876 shares of the company’s stock valued at $354,995,000 after buying an additional 83,861 shares in the last quarter. 67.00% of the stock is owned by hedge funds and other institutional investors.

Tyson Foods Company Profile

Tyson Foods, Inc (NYSE: TSN) is a multinational food company primarily engaged in the production, processing and marketing of protein-based and prepared food products. Founded in 1935 and headquartered in Springdale, Arkansas, the company is one of the world’s largest processors of chicken, beef and pork. Its operations span live animal procurement and farming relationships through slaughter, further processing and distribution, supplying raw protein and value-added prepared foods to retail, foodservice and industrial customers.

The company’s product portfolio covers fresh and frozen meats, branded and private-label prepared foods, and a range of value-added items such as ready-to-eat and ready-to-cook meals, snack and sandwich meats.