JPMorgan Chase & Co. upgraded shares of Tyson Foods (NYSE:TSN – Free Report) from a neutral rating to an overweight rating in a report issued on Friday, Marketbeat.com reports. They currently have $63.00 price target on the stock, down from their prior price target of $65.00.
A number of other research analysts also recently commented on the company. Sanford C. Bernstein dropped their price target on Tyson Foods from $72.00 to $63.00 and set a “market perform” rating for the company in a research note on Thursday, July 2nd. Piper Sandler reduced their price objective on shares of Tyson Foods from $78.00 to $66.00 and set an “overweight” rating on the stock in a research note on Thursday, September 10th. Weiss Ratings lowered shares of Tyson Foods from a “hold (c+)” rating to a “hold (c)” rating in a report on Thursday, July 9th. Wall Street Zen cut shares of Tyson Foods from a “buy” rating to a “hold” rating in a research report on Saturday, June 20th. Finally, BMO Capital Markets cut their price target on shares of Tyson Foods from $75.00 to $65.00 and set an “outperform” rating for the company in a report on Friday, September 4th. Five investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $67.89.
Check Out Our Latest Stock Report on TSN
Tyson Foods Trading Up 0.0%
Tyson Foods (NYSE:TSN – Get Free Report) last announced its quarterly earnings data on Monday, August 3rd. The company reported $0.99 earnings per share for the quarter, meeting the consensus estimate of $0.99. The firm had revenue of $13.87 billion during the quarter, compared to analysts’ expectations of $14.07 billion. Tyson Foods had a return on equity of 7.77% and a net margin of 1.03%.The company’s quarterly revenue was down .1% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.91 EPS. On average, research analysts anticipate that Tyson Foods will post 3.65 EPS for the current fiscal year.
Tyson Foods Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 15th. Investors of record on Tuesday, December 1st will be given a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a dividend yield of 3.9%. The ex-dividend date is Tuesday, December 1st. Tyson Foods’s dividend payout ratio is currently 125.93%.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently bought and sold shares of the business. Quantinno Capital Management LP boosted its stake in shares of Tyson Foods by 5.2% in the 1st quarter. Quantinno Capital Management LP now owns 1,282,438 shares of the company’s stock valued at $82,166,000 after purchasing an additional 63,885 shares in the last quarter. Pzena Investment Management LLC increased its position in 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 purchasing an additional 1,480,987 shares in the last quarter. Swiss National Bank increased its position in Tyson Foods by 6.1% during the 1st quarter. Swiss National Bank now owns 830,700 shares of the company’s stock worth $53,223,000 after purchasing an additional 47,900 shares in the last quarter. Wedge Capital Management L L P NC lifted its stake in Tyson Foods by 10.6% in the 2nd quarter. Wedge Capital Management L L P NC now owns 621,639 shares of the company’s stock valued at $35,589,000 after purchasing an additional 59,451 shares during the last quarter. Finally, Great Lakes Advisors LLC bought a new position in Tyson Foods in the 2nd quarter valued at approximately $1,665,000. Institutional investors own 67.00% of the company’s stock.
About Tyson Foods
Tyson Foods, Inc is a food company that produces and markets protein-based foods for retail, foodservice and industrial customers. Its principal businesses include chicken, beef, pork and prepared foods, with products ranging from fresh and frozen meats to ready-to-eat and ready-to-prepare meals.
The company sells products under brands including Tyson, Jimmy Dean, Hillshire Farm, Ball Park, Wright, Aidells and State Fair, as well as private-label offerings. Tyson Foods also supplies restaurants, schools, hospitals and other institutional customers, and operates processing, distribution and related food production facilities in the United States and select international markets.
Tyson Foods traces its origins to 1935, when John W.
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