Tyson Foods (NYSE:TSN) Sets New 1-Year High on Better-Than-Expected Earnings

Shares of Tyson Foods, Inc. (NYSE:TSN) hit a new 52-week high during trading on Monday following a better than expected earnings announcement. The stock traded as high as $63.45 and last traded at $62.94, with a volume of 404072 shares. The stock had previously closed at $61.23.

The company reported $0.87 EPS for the quarter, beating the consensus estimate of $0.65 by $0.22. Tyson Foods had a negative net margin of 1.16% and a positive return on equity of 3.53%. The company had revenue of $13.35 billion during the quarter, compared to the consensus estimate of $13.21 billion. During the same quarter in the prior year, the company posted $0.15 earnings per share. The firm’s revenue for the quarter was up 1.6% on a year-over-year basis.

Tyson Foods Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Investors of record on Friday, August 30th will be issued a dividend of $0.49 per share. The ex-dividend date is Friday, August 30th. This represents a $1.96 dividend on an annualized basis and a yield of 3.18%. Tyson Foods’s dividend payout ratio (DPR) is currently -110.11%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on TSN shares. JPMorgan Chase & Co. raised their target price on Tyson Foods from $61.00 to $63.00 and gave the company a “neutral” rating in a research report on Tuesday. BMO Capital Markets raised their price objective on shares of Tyson Foods from $58.00 to $60.00 and gave the stock a “market perform” rating in a report on Tuesday. Bank of America dropped their target price 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. The Goldman Sachs Group raised their price target on shares of Tyson Foods from $49.00 to $54.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 17th. Finally, Barclays upped their price objective on Tyson Foods from $69.00 to $72.00 and gave the company an “overweight” rating in a research note on Tuesday. One research analyst has rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $61.00.

Institutional Investors Weigh In On Tyson Foods

Several institutional investors have recently made changes to their positions in the stock. EverSource Wealth Advisors LLC increased its holdings in Tyson Foods by 13.2% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,699 shares of the company’s stock worth $103,000 after acquiring an additional 198 shares during the period. Ridgewood Investments LLC boosted its stake in Tyson Foods by 0.8% during the first quarter. Ridgewood Investments LLC now owns 25,741 shares of the company’s stock valued at $1,512,000 after buying an additional 199 shares during the period. Lindbrook Capital LLC grew its position in Tyson Foods by 42.0% during the first quarter. Lindbrook Capital LLC now owns 724 shares of the company’s stock worth $43,000 after buying an additional 214 shares in the last quarter. Unison Advisors LLC grew its position in Tyson Foods by 0.8% during the second quarter. Unison Advisors LLC now owns 25,547 shares of the company’s stock worth $1,460,000 after buying an additional 214 shares in the last quarter. Finally, Caprock Group LLC raised its holdings in shares of Tyson Foods by 2.5% in the 2nd quarter. Caprock Group LLC now owns 9,556 shares of the company’s stock valued at $546,000 after acquiring an additional 235 shares in the last quarter. Hedge funds and other institutional investors own 67.00% of the company’s stock.

Tyson Foods Trading Down 1.6 %

The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.87 and a current ratio of 1.77. The stock has a market cap of $21.97 billion, a P/E ratio of -34.57, a P/E/G ratio of 0.46 and a beta of 0.74. The stock has a 50-day moving average price of $57.61 and a 200-day moving average price of $57.23.

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.