Tyson Foods (NYSE:TSN) Shares Up 2.6% – Here’s What Happened

Tyson Foods, Inc. (NYSE:TSN) shot up 2.6% on Monday . The company traded as high as $63.80 and last traded at $64.01. 385,538 shares traded hands during mid-day trading, a decline of 83% from the average session volume of 2,296,268 shares. The stock had previously closed at $62.37.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. UBS Group began coverage on Tyson Foods in a research note on Friday, January 10th. They issued a “neutral” rating and a $62.00 price target for the company. Piper Sandler raised Tyson Foods from an “underweight” rating to a “neutral” rating and set a $58.00 price objective on the stock in a research note on Tuesday, February 4th. HSBC upgraded Tyson Foods from a “reduce” rating to a “hold” rating in a report on Monday, February 3rd. Hsbc Global Res raised shares of Tyson Foods from a “moderate sell” rating to a “hold” rating in a research report on Monday, February 3rd. Finally, Citigroup cut their target price on shares of Tyson Foods from $63.00 to $61.00 and set a “neutral” rating on the stock in a research note on Friday, January 31st. Ten equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $61.10.

Tyson Foods Stock Performance

The firm has a market cap of $22.47 billion, a P/E ratio of 21.31, a PEG ratio of 0.74 and a beta of 0.72. The company has a current ratio of 2.11, a quick ratio of 1.04 and a debt-to-equity ratio of 0.52. The company’s 50-day moving average is $59.41 and its two-hundred day moving average is $59.61.

Tyson Foods (NYSE:TSN) last announced its quarterly earnings results on Monday, February 3rd. The company reported $1.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.79 by $0.35. Tyson Foods had a return on equity of 6.87% and a net margin of 1.96%. The business had revenue of $13.62 billion during the quarter, compared to the consensus estimate of $13.46 billion. During the same quarter in the prior year, the company posted $0.69 earnings per share. Tyson Foods’s revenue was up 2.3% compared to the same quarter last year. As a group, equities analysts predict that Tyson Foods, Inc. will post 3.8 EPS for the current fiscal year.

Tyson Foods Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Friday, May 30th will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 3.17%. The ex-dividend date of this dividend is Friday, May 30th. Tyson Foods’s dividend payout ratio (DPR) is presently 67.57%.

Hedge Funds Weigh In On Tyson Foods

Hedge funds have recently modified their holdings of the company. Park Square Financial Group LLC bought a new stake in Tyson Foods during the fourth quarter worth $25,000. Riverview Trust Co raised its holdings in shares of Tyson Foods by 3,423.1% in the 4th quarter. Riverview Trust Co now owns 458 shares of the company’s stock worth $26,000 after purchasing an additional 445 shares during the period. Brooklyn Investment Group lifted its stake in Tyson Foods by 2,478.3% in the fourth quarter. Brooklyn Investment Group now owns 593 shares of the company’s stock valued at $34,000 after purchasing an additional 570 shares during the last quarter. SRS Capital Advisors Inc. grew its holdings in Tyson Foods by 58.6% during the fourth quarter. SRS Capital Advisors Inc. now owns 620 shares of the company’s stock valued at $36,000 after purchasing an additional 229 shares during the period. Finally, Ossiam raised its stake in shares of Tyson Foods by 41.6% in the fourth quarter. Ossiam now owns 626 shares of the company’s stock valued at $36,000 after buying an additional 184 shares during the period. 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.