Piper Sandler Downgrades Tyson Foods (NYSE:TSN) to Underweight

Piper Sandler cut shares of Tyson Foods (NYSE:TSN) from a neutral rating to an underweight rating in a research note released on Wednesday morning, MarketBeat.com reports. The firm currently has $50.00 price objective on the stock, down from their prior price objective of $57.00.

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

Tyson Foods Price Performance

TSN stock opened at $59.69 on Wednesday. The stock’s 50 day moving average price is $62.06 and its 200 day moving average price is $59.50. The firm has a market cap of $21.31 billion, a P/E ratio of -33.53, a PEG ratio of 0.42 and a beta of 0.78. 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.

Tyson Foods (NYSE:TSN) last issued its quarterly earnings data on Monday, August 5th. The company reported $0.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.22. The business 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 business’s revenue was up 1.6% on a year-over-year basis. During the same period in the prior year, the business earned $0.15 earnings per share. On average, sell-side analysts expect that Tyson Foods will post 2.82 earnings per share for the current fiscal year.

Tyson Foods Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be issued a $0.49 dividend. The ex-dividend date is Friday, November 29th. This represents a $1.96 dividend on an annualized basis and a dividend yield of 3.28%. Tyson Foods’s dividend payout ratio (DPR) is -110.11%.

Institutional Trading of Tyson Foods

A number of institutional investors have recently modified their holdings of the company. Pzena Investment Management LLC raised its holdings in Tyson Foods by 79.2% in the first quarter. Pzena Investment Management LLC now owns 10,550,056 shares of the company’s stock valued at $619,605,000 after buying an additional 4,662,332 shares during the period. Davis Selected Advisers acquired a new stake in shares of Tyson Foods in the second quarter worth $177,439,000. Capital Research Global Investors lifted its holdings in shares of Tyson Foods by 153.2% during the 4th quarter. Capital Research Global Investors now owns 4,827,091 shares of the company’s stock valued at $259,456,000 after acquiring an additional 2,920,479 shares in the last quarter. Royal London Asset Management Ltd. boosted its position in Tyson Foods by 76.9% during the 4th 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 period. Finally, Wellington Management Group LLP increased its holdings in Tyson Foods by 6.2% in the 4th quarter. Wellington Management Group LLP now owns 10,335,646 shares of the company’s stock valued at $555,541,000 after purchasing an additional 606,518 shares in the last quarter. Hedge funds and other institutional investors own 67.00% of the company’s stock.

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.