Tyson Foods (NYSE:TSN) Price Target Raised to $58.00 at BMO Capital Markets

Tyson Foods (NYSE:TSN) had its target price increased by BMO Capital Markets from $55.00 to $58.00 in a research note issued to investors on Tuesday, Benzinga reports. They currently have a market perform rating on the stock.

Other analysts also recently issued reports about the company. Barclays upgraded Tyson Foods from an underweight rating to an overweight rating and increased their price target for the company from $53.00 to $69.00 in a report on Tuesday, April 16th. Bank of America upgraded shares of Tyson Foods from an underperform rating to a neutral rating and lifted their price objective for the company from $47.00 to $62.00 in a research note on Tuesday, February 6th. Piper Sandler lifted their price target on shares of Tyson Foods from $55.00 to $57.00 and gave the stock a neutral rating in a research note on Tuesday. Stephens reissued an overweight rating and set a $70.00 price objective on shares of Tyson Foods in a report on Tuesday, February 6th. Finally, JPMorgan Chase & Co. upped their target price on shares of Tyson Foods from $58.00 to $59.00 in a research note on Monday. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Tyson Foods has a consensus rating of Hold and an average target price of $60.60.

Tyson Foods Stock Up 0.7 %

Shares of NYSE TSN opened at $58.89 on Tuesday. The firm’s 50 day moving average price is $57.89 and its 200 day moving average price is $53.62. The firm has a market cap of $20.99 billion, a P/E ratio of -23.84, a price-to-earnings-growth ratio of 0.49 and a beta of 0.74. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.67 and a current ratio of 1.49. Tyson Foods has a 1 year low of $44.94 and a 1 year high of $62.04.

Tyson Foods (NYSE:TSN) last posted 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. Tyson Foods had a negative net margin of 1.62% and a positive return on equity of 2.23%. The firm had revenue of $13.07 billion for the quarter, compared to analyst estimates of $13.16 billion. During the same quarter last year, the firm posted ($0.04) earnings per share. Tyson Foods’s revenue for the quarter was down .5% compared to the same quarter last year. As a group, sell-side analysts anticipate that Tyson Foods will post 2.33 earnings per share for the current year.

Tyson Foods Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Friday, May 31st will be paid a $0.49 dividend. This represents a $1.96 dividend on an annualized basis and a yield of 3.33%. The ex-dividend date of this dividend is Friday, May 31st. Tyson Foods’s payout ratio is -79.35%.

Insider Activity at Tyson Foods

In other news, Director Noel W. White sold 9,000 shares of the stock in a transaction that occurred 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 completion of the transaction, the director now directly owns 31,115 shares in the company, valued at $1,672,431.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.05% of the stock is currently owned by insiders.

Institutional Trading of Tyson Foods

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. New Republic Capital LLC bought a new stake in shares of Tyson Foods during the 1st quarter worth $224,000. Sei Investments Co. raised its holdings in Tyson Foods by 14.9% during the 1st quarter. Sei Investments Co. now owns 197,108 shares of the company’s stock worth $11,576,000 after buying an additional 25,527 shares during the period. Pecaut & CO. purchased a new stake in Tyson Foods during the first quarter valued at about $903,000. Forsta AP Fonden increased its position in shares of Tyson Foods by 12.2% in the first quarter. Forsta AP Fonden now owns 60,500 shares of the company’s stock worth $3,553,000 after acquiring an additional 6,600 shares in the last quarter. Finally, Illinois Municipal Retirement Fund grew its position in shares of Tyson Foods by 58.0% in the 1st quarter. Illinois Municipal Retirement Fund now owns 142,023 shares of the company’s stock valued at $8,341,000 after purchasing an additional 52,123 shares during the period. 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.