Tyson Foods (NYSE:TSN) Shares Gap Down to $62.02

Tyson Foods, Inc. (NYSE:TSN) shares gapped down before the market opened on Monday . The stock had previously closed at $62.02, but opened at $60.69. Tyson Foods shares last traded at $58.07, with a volume of 3,466,912 shares.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. Citigroup raised their target price on shares of Tyson Foods from $57.00 to $62.00 and gave the company a “neutral” rating in a report on Wednesday, April 3rd. Bank of America upgraded Tyson Foods from an “underperform” rating to a “neutral” rating and boosted their target price for the stock from $47.00 to $62.00 in a research note on Tuesday, February 6th. The Goldman Sachs Group increased their price target on shares of Tyson Foods from $49.00 to $54.00 and gave the company a “neutral” rating in a research note on Wednesday, April 17th. Barclays upgraded shares of Tyson Foods from an “underweight” rating to an “overweight” rating and boosted their price objective for the stock from $53.00 to $69.00 in a research report on Tuesday, April 16th. Finally, BMO Capital Markets increased their target price on shares of Tyson Foods from $55.00 to $58.00 and gave the company a “market perform” rating in a research report on Tuesday. One analyst has rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the stock. According to MarketBeat, Tyson Foods has an average rating of “Hold” and an average price target of $60.60.

Tyson Foods Stock Performance

The stock’s 50-day moving average is $57.89 and its 200 day moving average is $53.62. The stock has a market cap of $21.07 billion, a price-to-earnings ratio of -23.94, a P/E/G ratio of 0.49 and a beta of 0.74. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.49 and a quick ratio of 0.67.

Tyson Foods (NYSE:TSN) last posted its quarterly earnings results on Monday, May 6th. The company reported $0.62 EPS for the quarter, beating the consensus estimate of $0.39 by $0.23. Tyson Foods had a positive return on equity of 2.23% and a negative net margin of 1.62%. The business had revenue of $13.07 billion during the quarter, compared to analysts’ expectations of $13.16 billion. During the same period last year, the firm earned ($0.04) EPS. The company’s quarterly revenue was down .5% compared to the same quarter last year. As a group, analysts predict that Tyson Foods, Inc. will post 2.33 earnings per share for the current fiscal year.

Tyson Foods Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Friday, May 31st will be paid a $0.49 dividend. This represents a $1.96 annualized dividend and a yield of 3.31%. The ex-dividend date of this dividend is Friday, May 31st. Tyson Foods’s payout ratio is currently -79.35%.

Insider Buying and Selling at Tyson Foods

In related news, Director Noel W. White sold 9,000 shares of the stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $53.75, for a total value of $483,750.00. Following the sale, the director now directly owns 31,115 shares of the company’s stock, valued at approximately $1,672,431.25. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 2.05% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Tyson Foods

Hedge funds have recently bought and sold shares of the stock. New Republic Capital LLC acquired a new stake in Tyson Foods during the first quarter worth approximately $224,000. Sei Investments Co. boosted its position in shares of Tyson Foods by 14.9% in the first quarter. Sei Investments Co. now owns 197,108 shares of the company’s stock worth $11,576,000 after acquiring an additional 25,527 shares during the last quarter. Pecaut & CO. purchased a new stake in Tyson Foods in the first quarter valued at approximately $903,000. Forsta AP Fonden raised its stake in Tyson Foods by 12.2% during the first quarter. Forsta AP Fonden now owns 60,500 shares of the company’s stock worth $3,553,000 after purchasing an additional 6,600 shares during the period. Finally, Illinois Municipal Retirement Fund boosted its holdings in shares of Tyson Foods by 58.0% in the 1st quarter. Illinois Municipal Retirement Fund now owns 142,023 shares of the company’s stock valued at $8,341,000 after purchasing an additional 52,123 shares during the last quarter. Hedge funds and other 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.