JPMorgan Chase & Co. Cuts Tyson Foods (NYSE:TSN) Price Target to $65.00

Tyson Foods (NYSE:TSN) had its target price lowered by JPMorgan Chase & Co. from $67.00 to $65.00 in a report released on Tuesday,Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the stock.

TSN has been the subject of a number of other reports. Barclays raised their target price on Tyson Foods from $75.00 to $78.00 and gave the company an “overweight” rating in a report on Tuesday, February 3rd. Weiss Ratings reissued a “hold (c-)” rating on shares of Tyson Foods in a research report on Monday, December 29th. Argus raised shares of Tyson Foods to a “hold” rating in a research note on Friday, February 6th. Piper Sandler lifted their price objective on shares of Tyson Foods from $58.00 to $61.00 and gave the company a “neutral” rating in a report on Friday, December 12th. Finally, Sanford C. Bernstein reaffirmed a “market perform” rating and set a $69.00 target price on shares of Tyson Foods in a research note on Tuesday, February 3rd. Four analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $64.75.

Tyson Foods Stock Up 2.4%

Tyson Foods stock opened at $62.94 on Tuesday. The company has a market capitalization of $22.16 billion, a PE ratio of 112.40, a price-to-earnings-growth ratio of 1.35 and a beta of 0.47. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.66 and a current ratio of 1.53. Tyson Foods has a fifty-two week low of $50.56 and a fifty-two week high of $66.41. The firm has a 50 day moving average price of $62.72 and a 200 day moving average price of $57.89.

Tyson Foods (NYSE:TSN) last released its quarterly earnings results on Monday, February 2nd. The company reported $0.97 EPS for the quarter, missing analysts’ consensus estimates of $1.01 by ($0.04). Tyson Foods had a return on equity of 7.67% and a net margin of 0.36%.The firm had revenue of $14.31 billion for the quarter, compared to analyst estimates of $14.11 billion. During the same quarter last year, the company earned $1.14 earnings per share. The firm’s revenue for the quarter was up 5.1% on a year-over-year basis. Research analysts expect that Tyson Foods will post 3.8 earnings per share for the current year.

Tyson Foods Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Monday, June 1st will be paid a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a yield of 3.2%. The ex-dividend date of this dividend is Monday, June 1st. Tyson Foods’s payout ratio is presently 364.29%.

Institutional Investors Weigh In On Tyson Foods

Hedge funds have recently bought and sold shares of the stock. Hsbc Holdings PLC grew its position in shares of Tyson Foods by 4.3% during the fourth quarter. Hsbc Holdings PLC now owns 589,708 shares of the company’s stock worth $34,613,000 after buying an additional 24,251 shares in the last quarter. Rockefeller Capital Management L.P. raised its holdings in Tyson Foods by 1,890.8% in the fourth quarter. Rockefeller Capital Management L.P. now owns 182,418 shares of the company’s stock valued at $10,693,000 after acquiring an additional 173,255 shares in the last quarter. Corient Private Wealth LLC lifted its stake in Tyson Foods by 73.8% in the fourth quarter. Corient Private Wealth LLC now owns 122,615 shares of the company’s stock worth $7,189,000 after acquiring an additional 52,078 shares during the last quarter. DGS Capital Management LLC purchased a new position in Tyson Foods in the fourth quarter worth approximately $205,000. Finally, SG Trading Solutions LLC acquired a new position in Tyson Foods during the 4th quarter worth approximately $1,271,000. Institutional investors and hedge funds own 67.00% of the company’s stock.

Tyson Foods Company Profile

Tyson Foods, Inc (NYSE: TSN) is a multinational food company primarily engaged in the production, processing and marketing of protein-based and prepared food products. Founded in 1935 and headquartered in Springdale, Arkansas, the company is one of the world’s largest processors of chicken, beef and pork. Its operations span live animal procurement and farming relationships through slaughter, further processing and distribution, supplying raw protein and value-added prepared foods to retail, foodservice and industrial customers.

The company’s product portfolio covers fresh and frozen meats, branded and private-label prepared foods, and a range of value-added items such as ready-to-eat and ready-to-cook meals, snack and sandwich meats.