Piper Sandler Lowers Tyson Foods (NYSE:TSN) to Underweight

Piper Sandler lowered shares of Tyson Foods (NYSE:TSN) from a neutral rating to an underweight rating in a research note issued to investors on Wednesday morning, Marketbeat Ratings reports. Piper Sandler currently has $50.00 price objective on the stock, down from their prior price objective of $57.00.

Several other equities research analysts also recently issued reports on TSN. Bank of America dropped their target price on Tyson Foods from $62.00 to $60.00 and set a neutral rating on the stock in a research report on Wednesday, July 10th. JPMorgan Chase & Co. raised 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. BMO Capital Markets upped their price target 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 price objective on shares of Tyson Foods from $72.00 to $76.00 and gave the company an overweight rating in a research report on Monday, September 9th. Finally, StockNews.com raised shares of Tyson Foods from a hold rating to a buy rating in a report on Tuesday, August 6th. 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. According to MarketBeat.com, the company has an average rating of Hold and a consensus price target of $60.67.

Tyson Foods Stock Up 0.6 %

TSN stock opened at $59.68 on Wednesday. Tyson Foods has a fifty-two week low of $44.94 and a fifty-two week high of $66.88. The stock has a fifty day moving average of $62.06 and a 200-day moving average of $59.47. The company has a market capitalization of $21.31 billion, a price-to-earnings ratio of -33.53, a PEG 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.

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

Tyson Foods Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be issued a dividend of $0.49 per share. This represents a $1.96 dividend on an annualized basis and a dividend yield of 3.28%. The ex-dividend date of this dividend is Friday, November 29th. Tyson Foods’s dividend payout ratio is currently -110.11%.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC boosted its holdings in shares of Tyson Foods by 13.2% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,699 shares of the company’s stock worth $103,000 after purchasing an additional 198 shares in the last quarter. Ridgewood Investments LLC boosted its stake in Tyson Foods by 0.8% in the first quarter. Ridgewood Investments LLC now owns 25,741 shares of the company’s stock worth $1,512,000 after buying an additional 199 shares in the last quarter. Lindbrook Capital LLC grew its position in Tyson Foods by 42.0% during the first quarter. Lindbrook Capital LLC now owns 724 shares of the company’s stock valued at $43,000 after acquiring an additional 214 shares during the last quarter. Unison Advisors LLC raised its stake in shares of Tyson Foods by 0.8% during the second quarter. Unison Advisors LLC now owns 25,547 shares of the company’s stock worth $1,460,000 after acquiring an additional 214 shares in the last quarter. Finally, Caprock Group LLC lifted its holdings in shares of Tyson Foods by 2.5% in the 2nd quarter. Caprock Group LLC now owns 9,556 shares of the company’s stock worth $546,000 after acquiring an additional 235 shares during the last quarter. Institutional investors own 67.00% of the company’s stock.

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.