Tyson Foods (NYSE:TSN) PT Lowered to $60.00 at Bank of America

Tyson Foods (NYSE:TSN) had its price target lowered by Bank of America from $62.00 to $60.00 in a research report sent to investors on Wednesday, Benzinga reports. Bank of America currently has a neutral rating on the stock.

A number of other brokerages have also issued reports on TSN. JPMorgan Chase & Co. raised their target price on shares of Tyson Foods from $58.00 to $59.00 in a research report on Monday, May 6th. Barclays upgraded shares of Tyson Foods from an underweight rating to an overweight rating and raised their target price for the stock from $53.00 to $69.00 in a research report on Tuesday, April 16th. HSBC boosted their price objective on shares of Tyson Foods from $48.00 to $51.00 and gave the company a reduce rating in a research note on Tuesday, May 7th. The Goldman Sachs Group boosted their price objective on shares of Tyson Foods from $49.00 to $54.00 and gave the company a neutral rating in a research note on Wednesday, April 17th. Finally, StockNews.com raised shares of Tyson Foods from a hold rating to a buy rating in a research note on Wednesday, July 3rd. One analyst has rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of Hold and an average price target of $60.00.

Tyson Foods Stock Up 0.8 %

TSN stock opened at $57.32 on Wednesday. The company’s 50 day simple moving average is $57.52 and its 200-day simple moving average is $56.53. The firm has a market capitalization of $20.46 billion, a PE ratio of -32.20, a P/E/G ratio of 0.40 and a beta of 0.74. Tyson Foods has a 12 month low of $44.94 and a 12 month high of $62.04. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.77 and a quick ratio of 0.87.

Tyson Foods (NYSE:TSN) last released its quarterly earnings results on Monday, May 6th. The company reported $0.62 EPS for the quarter, beating the consensus estimate of $0.39 by $0.23. The business 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 1.16% and a positive return on equity of 3.53%. The company’s quarterly revenue was down .5% on a year-over-year basis. During the same period in the prior year, the business earned ($0.04) earnings per share. Equities analysts expect that Tyson Foods will post 2.61 earnings per share for the current fiscal year.

Tyson Foods Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Investors of record on Friday, August 30th will be given a dividend of $0.49 per share. The ex-dividend date is Friday, August 30th. This represents a $1.96 dividend on an annualized basis and a yield of 3.42%. Tyson Foods’s dividend payout ratio (DPR) is -110.11%.

Hedge Funds Weigh In On Tyson Foods

A number of institutional investors have recently added to or reduced their stakes in TSN. Pzena Investment Management LLC lifted its holdings in Tyson Foods by 79.2% in the 1st quarter. Pzena Investment Management LLC now owns 10,550,056 shares of the company’s stock worth $619,605,000 after buying an additional 4,662,332 shares in the last quarter. Capital Research Global Investors raised its stake in shares of Tyson Foods by 153.2% in the 4th quarter. Capital Research Global Investors now owns 4,827,091 shares of the company’s stock valued at $259,456,000 after purchasing an additional 2,920,479 shares in the last quarter. Norges Bank acquired a new stake in shares of Tyson Foods in the 4th quarter valued at about $89,286,000. Royal London Asset Management Ltd. raised its stake in shares of Tyson Foods by 76.9% in the 4th quarter. Royal London Asset Management Ltd. now owns 3,369,708 shares of the company’s stock valued at $181,122,000 after purchasing an additional 1,465,139 shares in the last quarter. Finally, Assenagon Asset Management S.A. raised its stake in shares of Tyson Foods by 14,668.0% in the 1st quarter. Assenagon Asset Management S.A. now owns 632,366 shares of the company’s stock valued at $37,139,000 after purchasing an additional 628,084 shares in the last quarter. Institutional investors and hedge funds 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.