Tyson Foods Inc. (NYSE:TSN) shares gapped down before the market opened on Tuesday after the company announced weaker than expected quarterly earnings. The stock had previously closed at $58.68, but opened at $57.60. Tyson Foods shares last traded at $59.22, with a volume of 8,431,189 shares.

The company reported $0.96 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.16 by $0.20. Tyson Foods had a net margin of 4.79% and a return on equity of 17.57%. The firm earned $9.16 billion during the quarter, compared to analyst estimates of $9.38 billion. During the same period in the prior year, the business earned $0.83 EPS. The business’s revenue for the quarter was down 12.8% compared to the same quarter last year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 15th. Shareholders of record on Wednesday, March 1st will be paid a $0.225 dividend. This is an increase from Tyson Foods’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend is Monday, February 27th. This represents a $0.90 annualized dividend and a dividend yield of 1.53%. Tyson Foods’s dividend payout ratio (DPR) is currently 13.25%.

Several brokerages have recently weighed in on TSN. Pivotal Research restated a “sell” rating and issued a $40.00 price objective on shares of Tyson Foods in a report on Wednesday. Credit Suisse Group AG decreased their price objective on Tyson Foods from $72.00 to $65.00 and set a “neutral” rating for the company in a report on Tuesday. Jefferies Group decreased their price objective on Tyson Foods from $85.00 to $75.00 and set a “buy” rating for the company in a report on Tuesday. BMO Capital Markets restated a “buy” rating and issued a $84.00 price objective on shares of Tyson Foods in a report on Tuesday. Finally, Royal Bank Of Canada decreased their price objective on Tyson Foods from $75.00 to $68.00 and set a “sector perform” rating for the company in a report on Tuesday. Three research analysts have rated the stock with a sell rating, five have issued a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $69.41.

In other news, insider Noel W. White sold 74,934 shares of Tyson Foods stock in a transaction that occurred on Friday, August 26th. The shares were sold at an average price of $75.44, for a total value of $5,653,020.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.69% of the stock is currently owned by insiders.

Several large investors have recently added to or reduced their stakes in the stock. Washington Trust Bank increased its stake in Tyson Foods by 2.2% in the third quarter. Washington Trust Bank now owns 1,431 shares of the company’s stock worth $107,000 after buying an additional 31 shares during the last quarter. Evercore Wealth Management LLC increased its stake in Tyson Foods by 22.2% in the second quarter. Evercore Wealth Management LLC now owns 1,775 shares of the company’s stock worth $119,000 after buying an additional 323 shares during the last quarter. Financial Architects Inc increased its stake in Tyson Foods by 1,101.3% in the second quarter. Financial Architects Inc now owns 1,838 shares of the company’s stock worth $122,000 after buying an additional 1,685 shares during the last quarter. Itau Unibanco Holding S.A. acquired a new stake in Tyson Foods during the third quarter worth $140,000. Finally, Kernodle & Katon Asset Management Group LLC acquired a new stake in Tyson Foods during the second quarter worth $156,000. Institutional investors own 73.44% of the company’s stock.

The firm has a market capitalization of $22.00 billion, a P/E ratio of 12.95 and a beta of 0.18. The firm’s 50 day moving average price is $68.86 and its 200-day moving average price is $69.67.

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Tyson Foods Company Profile

Tyson Foods, Inc is a food company. The Company is engaged in offering chicken, beef and pork, as well as prepared foods, including bacon, breakfast sausage, turkey, lunchmeat, hot dogs, pizza crusts and toppings, tortillas and desserts. The Company offers food products under Tyson, Jimmy Dean, Hillshire Farm, Sara Lee, Ball Park, Wright, Aidells and State Fair brands.

5 Day Chart for NYSE:TSN

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