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

Tyson Foods, Inc. (NYSE:TSN)’s stock price 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.

Wall Street Analysts Forecast Growth

Several brokerages have commented on TSN. Bank of America upgraded Tyson Foods from an “underperform” rating to a “neutral” rating and increased their price target for the company from $47.00 to $62.00 in a report on Tuesday, February 6th. BMO Capital Markets lifted their target price on shares of Tyson Foods from $55.00 to $58.00 and gave the stock a “market perform” rating in a report on Tuesday. Citigroup raised their price target on Tyson Foods from $57.00 to $62.00 and gave the company a “neutral” rating in a research report on Wednesday, April 3rd. JPMorgan Chase & Co. increased their target price on shares of Tyson Foods from $58.00 to $59.00 in a research note on Monday. Finally, HSBC upped their price target on Tyson Foods from $48.00 to $51.00 and gave the company a “reduce” rating in a report on Tuesday. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $60.60.

Tyson Foods Trading Up 0.4 %

The business’s fifty day simple moving average is $57.89 and its 200 day simple moving average is $53.62. The stock has a market cap of $21.07 billion, a P/E ratio of -23.94, a price-to-earnings-growth ratio of 0.49 and a beta of 0.74. The company has a current ratio of 1.49, a quick ratio of 0.67 and a debt-to-equity ratio of 0.46.

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, topping the consensus estimate of $0.39 by $0.23. The firm had revenue of $13.07 billion during the quarter, compared to analysts’ expectations of $13.16 billion. Tyson Foods had a negative net margin of 1.62% and a positive return on equity of 2.23%. Tyson Foods’s revenue was down .5% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.04) EPS. As a group, analysts expect that Tyson Foods, Inc. will post 2.33 EPS for the current year.

Tyson Foods Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Friday, May 31st will be paid a $0.49 dividend. The ex-dividend date is Friday, May 31st. This represents a $1.96 dividend on an annualized basis and a dividend yield of 3.31%. Tyson Foods’s dividend payout ratio (DPR) is presently -79.35%.

Insider Buying and Selling

In other news, Director Noel W. White sold 9,000 shares of the business’s stock in a transaction 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 2.05% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Cambridge Investment Research Advisors Inc. raised its position in Tyson Foods by 1.7% in the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 64,789 shares of the company’s stock valued at $3,271,000 after buying an additional 1,068 shares during the last quarter. Raymond James & Associates increased its position in shares of Tyson Foods by 2.6% in the third quarter. Raymond James & Associates now owns 183,668 shares of the company’s stock valued at $9,273,000 after acquiring an additional 4,618 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 worth $36,000 after acquiring an additional 540 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Tyson Foods by 4.2% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 109,160 shares of the company’s stock valued at $5,511,000 after purchasing an additional 4,382 shares during the last quarter. Finally, IFM Investors Pty Ltd raised its stake in shares of Tyson Foods by 3.2% during the 3rd quarter. IFM Investors Pty Ltd now owns 56,511 shares of the company’s stock worth $2,853,000 after purchasing an additional 1,755 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.