Tyson Foods (NYSE:TSN) Downgraded to “Underweight” at Piper Sandler

Piper Sandler lowered shares of Tyson Foods (NYSE:TSN) from a neutral rating to an underweight rating in a report published on Wednesday, MarketBeat Ratings reports. Piper Sandler currently has $50.00 target price on the stock, down from their prior target price of $57.00.

Other research analysts have also issued reports about the stock. BMO Capital Markets lifted their price objective on shares of Tyson Foods from $58.00 to $60.00 and gave the company a market perform rating in a research note on Tuesday, August 6th. JPMorgan Chase & Co. boosted their price target on Tyson Foods from $61.00 to $63.00 and gave the company a neutral rating in a research report on Tuesday, August 6th. StockNews.com raised Tyson Foods from a hold rating to a buy rating in a research report on Tuesday, August 6th. Barclays boosted their target price on Tyson Foods from $72.00 to $76.00 and gave the company an overweight rating in a report on Monday, September 9th. Finally, Bank of America decreased their price target on Tyson Foods from $62.00 to $60.00 and set a neutral rating for the company in a report on Wednesday, July 10th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Tyson Foods currently has a consensus rating of Hold and a consensus target price of $60.67.

Tyson Foods Stock Performance

Shares of TSN stock opened at $59.69 on Wednesday. The stock’s 50-day moving average is $62.06 and its two-hundred day moving average is $59.50. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.95 and a current ratio of 1.82. Tyson Foods has a 1 year low of $44.94 and a 1 year high of $66.88. The firm has a market cap of $21.31 billion, a price-to-earnings ratio of -33.53, a PEG ratio of 0.42 and a beta of 0.78.

Tyson Foods (NYSE:TSN) last released its quarterly earnings results on Monday, August 5th. The company reported $0.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.65 by $0.22. The firm had revenue of $13.35 billion for the quarter, compared to the consensus estimate of $13.21 billion. Tyson Foods had a positive return on equity of 4.97% and a negative net margin of 0.01%. The firm’s quarterly revenue was up 1.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.15 EPS. Analysts predict that Tyson Foods will post 2.82 earnings per share for the current year.

Tyson Foods Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be given a $0.49 dividend. This represents a $1.96 annualized dividend and a yield of 3.28%. The ex-dividend date is Friday, November 29th. Tyson Foods’s payout ratio is -110.11%.

Hedge Funds Weigh In On Tyson Foods

Institutional investors and hedge funds have recently made changes to their positions in the stock. Pzena Investment Management LLC boosted its holdings in Tyson Foods by 79.2% during the first 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. Davis Selected Advisers acquired a new stake in shares of Tyson Foods in the 2nd quarter worth approximately $177,439,000. Capital Research Global Investors increased its stake in 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. Royal London Asset Management Ltd. raised its holdings in Tyson Foods by 76.9% during the fourth quarter. Royal London Asset Management Ltd. now owns 3,369,708 shares of the company’s stock worth $181,122,000 after purchasing an additional 1,465,139 shares during the last quarter. Finally, Wellington Management Group LLP boosted its position in Tyson Foods by 6.2% during the fourth quarter. Wellington Management Group LLP now owns 10,335,646 shares of the company’s stock worth $555,541,000 after purchasing an additional 606,518 shares in the last quarter. 67.00% of the stock is owned by institutional investors and hedge funds.

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.