Citigroup Lowers Tyson Foods (NYSE:TSN) Price Target to $60.00

Tyson Foods (NYSE:TSN) had its price target decreased by Citigroup from $63.00 to $60.00 in a research report report published on Wednesday, Benzinga reports. Citigroup currently has a neutral rating on the stock.

TSN has been the topic of a number of other reports. Bank of America cut their price objective on shares of Tyson Foods from $62.00 to $60.00 and set a neutral rating on the stock in a research note on Wednesday, July 10th. Barclays upped their price target on shares of Tyson Foods from $72.00 to $76.00 and gave the stock an overweight rating in a research note on Monday, September 9th. Piper Sandler lowered shares of Tyson Foods from a neutral rating to an underweight rating and lowered their price objective for the company from $57.00 to $50.00 in a research note on Wednesday, September 25th. StockNews.com raised Tyson Foods from a hold rating to a buy rating in a research note on Tuesday, August 6th. Finally, BMO Capital Markets boosted their price objective 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, six have issued a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of Hold and an average price target of $59.00.

Tyson Foods Stock Up 1.1 %

TSN stock opened at $58.83 on Wednesday. The stock has a market cap of $20.93 billion, a PE ratio of -980.50, a price-to-earnings-growth ratio of 0.34 and a beta of 0.78. The firm’s 50-day simple moving average is $61.72 and its 200 day simple moving average is $59.64. Tyson Foods has a fifty-two week low of $44.94 and a fifty-two week high of $66.88. The company has a quick ratio of 0.95, a current ratio of 1.82 and a debt-to-equity ratio of 0.53.

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

Tyson Foods Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be issued a dividend of $0.49 per share. This represents a $1.96 annualized dividend and a dividend yield of 3.33%. The ex-dividend date is Friday, November 29th. Tyson Foods’s dividend payout ratio is -3,266.67%.

Hedge Funds Weigh In On Tyson Foods

Institutional investors have recently bought and sold shares of the stock. Retirement Systems of Alabama boosted its holdings in shares of Tyson Foods by 0.5% in the first quarter. Retirement Systems of Alabama now owns 63,199 shares of the company’s stock worth $3,712,000 after buying an additional 337 shares during the period. Oppenheimer & Co. Inc. grew its position in Tyson Foods by 100.7% during the 1st quarter. Oppenheimer & Co. Inc. now owns 10,315 shares of the company’s stock worth $606,000 after purchasing an additional 5,175 shares in the last quarter. Cetera Advisors LLC grew its position in Tyson Foods by 149.2% during the 1st quarter. Cetera Advisors LLC now owns 19,083 shares of the company’s stock worth $1,121,000 after purchasing an additional 11,425 shares in the last quarter. Envestnet Asset Management Inc. lifted its holdings in shares of Tyson Foods by 21.3% in the second quarter. Envestnet Asset Management Inc. now owns 251,807 shares of the company’s stock valued at $14,388,000 after purchasing an additional 44,167 shares in the last quarter. Finally, Tokio Marine Asset Management Co. Ltd. boosted its position in shares of Tyson Foods by 26.3% in the first quarter. Tokio Marine Asset Management Co. Ltd. now owns 8,837 shares of the company’s stock worth $519,000 after buying an additional 1,841 shares during the period. Hedge funds and other institutional investors 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.