Tyson Foods (NYSE:TSN) Shares Up 2.6% – Here’s What Happened

Shares of Tyson Foods, Inc. (NYSE:TSN) were up 2.6% during trading on Monday . The stock traded as high as $63.80 and last traded at $64.01. Approximately 385,538 shares traded hands during mid-day trading, a decline of 83% from the average daily volume of 2,296,268 shares. The stock had previously closed at $62.37.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Citigroup decreased their price target on shares of Tyson Foods from $63.00 to $61.00 and set a “neutral” rating for the company in a research note on Friday, January 31st. Stephens raised their price objective on Tyson Foods from $60.00 to $63.00 and gave the stock an “equal weight” rating in a report on Tuesday, February 4th. Hsbc Global Res raised Tyson Foods from a “moderate sell” rating to a “hold” rating in a report on Monday, February 3rd. UBS Group began coverage on shares of Tyson Foods in a research note on Friday, January 10th. They set a “neutral” rating and a $62.00 price target on the stock. Finally, Piper Sandler raised Tyson Foods from an “underweight” rating to a “neutral” rating and set a $58.00 price objective on the stock in a report on Tuesday, February 4th. Ten analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $61.10.

Tyson Foods Trading Up 2.1 %

The firm has a market capitalization of $22.68 billion, a price-to-earnings ratio of 21.50, a PEG ratio of 0.74 and a beta of 0.72. The business’s 50-day moving average price is $59.11 and its 200 day moving average price is $59.59. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.11 and a quick ratio of 1.04.

Tyson Foods (NYSE:TSN) last posted its quarterly earnings data on Monday, February 3rd. The company reported $1.14 earnings per share for the quarter, beating analysts’ consensus estimates of $0.79 by $0.35. Tyson Foods had a net margin of 1.96% and a return on equity of 6.87%. The company had revenue of $13.62 billion during the quarter, compared to analysts’ expectations of $13.46 billion. During the same period in the prior year, the company posted $0.69 EPS. The firm’s revenue for the quarter was up 2.3% on a year-over-year basis. On average, equities analysts forecast that Tyson Foods, Inc. will post 3.8 earnings per share for the current fiscal year.

Tyson Foods Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Friday, May 30th will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 3.14%. The ex-dividend date of this dividend is Friday, May 30th. Tyson Foods’s dividend payout ratio (DPR) is currently 67.57%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Norges Bank acquired a new stake in shares of Tyson Foods in the fourth quarter valued at $175,086,000. State Street Corp boosted its position in shares of Tyson Foods by 6.9% during the 3rd quarter. State Street Corp now owns 13,304,869 shares of the company’s stock valued at $792,438,000 after purchasing an additional 859,351 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its stake in shares of Tyson Foods by 83.5% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,211,722 shares of the company’s stock worth $69,601,000 after purchasing an additional 551,530 shares during the last quarter. Barclays PLC raised its holdings in shares of Tyson Foods by 66.1% in the 3rd quarter. Barclays PLC now owns 1,122,285 shares of the company’s stock worth $66,841,000 after purchasing an additional 446,648 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in Tyson Foods by 14.8% during the fourth quarter. Bank of New York Mellon Corp now owns 3,315,701 shares of the company’s stock valued at $190,454,000 after purchasing an additional 427,582 shares during the last quarter. 67.00% of the stock is owned by institutional investors and hedge funds.

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.