Tyson Foods (NYSE:TSN) Given New $69.00 Price Target at HSBC

Tyson Foods (NYSE:TSN) had its price target trimmed by HSBC from $74.00 to $69.00 in a research note issued to investors on Wednesday,MarketScreener (Pasted) reports. The firm currently has a hold rating on the stock.

A number of other brokerages have also weighed in on TSN. Bank of America decreased their target price on Tyson Foods from $70.00 to $68.00 and set a “neutral” rating for the company in a research report on Thursday, July 2nd. Wall Street Zen downgraded shares of Tyson Foods from a “buy” rating to a “hold” rating in a report on Saturday, June 20th. Stephens lifted their price target on shares of Tyson Foods from $65.00 to $70.00 and gave the stock an “equal weight” rating in a research note on Tuesday, May 5th. JPMorgan Chase & Co. lowered their price objective on shares of Tyson Foods from $71.00 to $65.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 14th. Finally, BMO Capital Markets restated an “outperform” rating on shares of Tyson Foods in a report on Tuesday, May 5th. Four investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $70.67.

Tyson Foods Stock Down 2.2%

Shares of TSN stock traded down $1.31 during midday trading on Wednesday, reaching $59.34. 1,720,376 shares of the stock were exchanged, compared to its average volume of 3,089,198. Tyson Foods has a 1 year low of $50.56 and a 1 year high of $69.48. The firm has a market cap of $20.89 billion, a PE ratio of 46.79, a price-to-earnings-growth ratio of 1.27 and a beta of 0.40. The company’s 50 day moving average is $58.59 and its two-hundred day moving average is $61.88. The company has a current ratio of 1.83, a quick ratio of 0.70 and a debt-to-equity ratio of 0.44.

Tyson Foods (NYSE:TSN) last released its earnings results on Monday, May 4th. The company reported $0.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.76 by $0.11. The firm had revenue of $13.65 billion during the quarter, compared to analyst estimates of $13.63 billion. Tyson Foods had a net margin of 0.81% and a return on equity of 7.59%. The business’s revenue was up 4.4% on a year-over-year basis. During the same period last year, the business earned $0.92 earnings per share. On average, equities research analysts predict that Tyson Foods will post 4.08 EPS for the current year.

Tyson Foods Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st will be paid a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date is Tuesday, September 1st. Tyson Foods’s payout ratio is currently 160.63%.

Hedge Funds Weigh In On Tyson Foods

A number of institutional investors and hedge funds have recently made changes to their positions in the business. City Holding Co. bought a new position in Tyson Foods in the fourth quarter worth approximately $29,000. Cary Street Partners Investment Advisory LLC grew its position in shares of Tyson Foods by 62.3% during the 4th quarter. Cary Street Partners Investment Advisory LLC now owns 516 shares of the company’s stock valued at $30,000 after acquiring an additional 198 shares during the period. Ascentis Independent Advisors bought a new stake in shares of Tyson Foods during the 1st quarter valued at $30,000. Basecamp Wealth Advisors LLC increased its stake in shares of Tyson Foods by 272.8% in the 1st quarter. Basecamp Wealth Advisors LLC now owns 466 shares of the company’s stock worth $30,000 after purchasing an additional 341 shares in the last quarter. Finally, Cedar Mountain Advisors LLC raised its holdings in Tyson Foods by 293.5% in the 1st quarter. Cedar Mountain Advisors LLC now owns 488 shares of the company’s stock worth $31,000 after purchasing an additional 364 shares during the period. Hedge funds and other institutional investors own 67.00% of the company’s stock.

About Tyson Foods

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.