Tyson Foods (NYSE:TSN) Posts Quarterly Earnings Results, Misses Expectations By $0.07 EPS

Tyson Foods (NYSE:TSNGet Rating) released its quarterly earnings data on Monday. The company reported $1.63 earnings per share for the quarter, missing analysts’ consensus estimates of $1.70 by ($0.07), Briefing.com reports. Tyson Foods had a return on equity of 18.42% and a net margin of 7.75%. The company had revenue of $13.74 billion for the quarter, compared to analyst estimates of $13.49 billion. During the same period in the previous year, the business posted $2.30 EPS. The firm’s revenue for the quarter was up 7.2% compared to the same quarter last year. Tyson Foods updated its FY 2023 guidance to EPS.

Tyson Foods Stock Performance

NYSE TSN opened at $64.34 on Wednesday. The stock has a market capitalization of $23.14 billion, a price-to-earnings ratio of 7.21 and a beta of 0.72. The business’s 50 day moving average is $67.97 and its two-hundred day moving average is $78.79. Tyson Foods has a 12-month low of $62.94 and a 12-month high of $100.72. The company has a current ratio of 1.99, a quick ratio of 0.85 and a debt-to-equity ratio of 0.42.

Tyson Foods Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 15th. Investors of record on Wednesday, March 1st will be given a $0.48 dividend. The ex-dividend date of this dividend is Tuesday, February 28th. This represents a $1.92 dividend on an annualized basis and a yield of 2.98%. This is an increase from Tyson Foods’s previous quarterly dividend of $0.46. Tyson Foods’s dividend payout ratio (DPR) is presently 20.63%.

Wall Street Analysts Forecast Growth

TSN has been the topic of several research reports. Barclays dropped their price objective on Tyson Foods from $100.00 to $89.00 and set an “equal weight” rating on the stock in a report on Tuesday, August 9th. Bank of America lowered Tyson Foods from a “neutral” rating to an “underperform” rating and cut their price target for the stock from $73.00 to $61.00 in a research report on Wednesday, November 9th. Argus downgraded Tyson Foods from a “buy” rating to a “hold” rating in a report on Tuesday, September 13th. Piper Sandler cut their target price on shares of Tyson Foods from $79.00 to $68.00 in a report on Thursday, October 27th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Tyson Foods from $75.00 to $70.00 and set a “neutral” rating on the stock in a research report on Tuesday. One analyst has rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, Tyson Foods presently has a consensus rating of “Hold” and an average target price of $84.00.

Institutional Trading of Tyson Foods

Several hedge funds have recently modified their holdings of the business. Vanguard Group Inc. lifted its holdings in Tyson Foods by 6.4% in the first quarter. Vanguard Group Inc. now owns 37,179,555 shares of the company’s stock valued at $3,332,404,000 after acquiring an additional 2,239,235 shares during the period. State Street Corp lifted its stake in shares of Tyson Foods by 1.8% in the first quarter. State Street Corp now owns 14,557,461 shares of the company’s stock valued at $1,304,785,000 after purchasing an additional 264,159 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in Tyson Foods by 7.4% during the first quarter. Charles Schwab Investment Management Inc. now owns 5,015,192 shares of the company’s stock worth $449,512,000 after buying an additional 343,410 shares in the last quarter. Invesco Ltd. grew its position in Tyson Foods by 33.3% during the first quarter. Invesco Ltd. now owns 3,653,878 shares of the company’s stock worth $327,497,000 after buying an additional 912,421 shares during the period. Finally, Goldman Sachs Group Inc. increased its holdings in Tyson Foods by 56.3% in the first quarter. Goldman Sachs Group Inc. now owns 1,572,844 shares of the company’s stock valued at $140,974,000 after buying an additional 566,512 shares in the last quarter. 68.55% of the stock is owned by institutional investors and hedge funds.

About Tyson Foods

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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 live market 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; and supplies poultry breeding stock; sells specialty products, such as hides and meats.

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Earnings History for Tyson Foods (NYSE:TSN)

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