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

Tyson Foods, Inc. (NYSE:TSN) gapped down before the market opened 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 Upgrades and Downgrades

TSN has been the topic of several recent research reports. StockNews.com raised Tyson Foods from a “sell” rating to a “hold” rating in a report on Monday, January 22nd. Piper Sandler boosted their price target on Tyson Foods from $44.00 to $48.00 and gave the stock a “neutral” rating in a report on Friday, January 26th. Barclays upgraded shares of Tyson Foods from an “underweight” rating to an “overweight” rating and raised their price objective for the company from $53.00 to $69.00 in a report on Tuesday, April 16th. Citigroup boosted their target price on shares of Tyson Foods from $57.00 to $62.00 and gave the stock a “neutral” rating in a report on Wednesday, April 3rd. Finally, JPMorgan Chase & Co. raised their price target on shares of Tyson Foods from $58.00 to $59.00 in a research note on Monday. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $59.20.

Tyson Foods Stock Performance

The stock has a market capitalization of $20.85 billion, a P/E ratio of -23.00, 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. The company has a 50-day moving average price of $57.71 and a two-hundred day moving average price of $53.45.

Tyson Foods (NYSE:TSN) last announced 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. The firm had revenue of $13.07 billion for the quarter, compared to analyst estimates of $13.16 billion. Tyson Foods had a negative net margin of 1.62% and a positive return on equity of 2.23%. The business’s quarterly revenue was down .5% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.04) earnings per share. On average, equities analysts forecast that Tyson Foods, Inc. will post 2.33 earnings per share for the current year.

Tyson Foods Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Friday, May 31st will be issued a dividend of $0.49 per share. The ex-dividend date is Friday, May 31st. This represents a $1.96 annualized dividend and a dividend yield of 3.35%. Tyson Foods’s dividend payout ratio is -79.35%.

Insider Transactions at Tyson Foods

In other Tyson Foods news, Director Noel W. White sold 9,000 shares of the firm’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 transaction, the director now directly owns 31,115 shares of the company’s stock, valued at $1,672,431.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 2.05% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of TSN. Ridgewood Investments LLC boosted its holdings in Tyson Foods by 0.8% during the 1st quarter. Ridgewood Investments LLC now owns 25,741 shares of the company’s stock worth $1,512,000 after acquiring an additional 199 shares during the last quarter. Massmutual Trust Co. FSB ADV boosted its holdings in Tyson Foods by 47.4% during the fourth quarter. Massmutual Trust Co. FSB ADV now owns 647 shares of the company’s stock worth $35,000 after purchasing an additional 208 shares during the last quarter. Lindbrook Capital LLC grew its position in Tyson Foods by 42.0% in the 1st quarter. Lindbrook Capital LLC now owns 724 shares of the company’s stock worth $43,000 after purchasing an additional 214 shares in the last quarter. Spire Wealth Management increased its stake in Tyson Foods by 21.7% in the 4th quarter. Spire Wealth Management now owns 1,340 shares of the company’s stock valued at $71,000 after buying an additional 239 shares during the last quarter. Finally, Allworth Financial LP increased its stake in Tyson Foods by 26.1% in the 4th quarter. Allworth Financial LP now owns 1,185 shares of the company’s stock valued at $64,000 after buying an additional 245 shares during the last quarter. Hedge funds and other 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.