Tyson Foods (NYSE:TSN) Hits New 1-Year High on Earnings Beat

Tyson Foods, Inc. (NYSE:TSN) shares reached a new 52-week high on Monday after the company announced better than expected quarterly earnings. The company traded as high as $63.45 and last traded at $62.94, with a volume of 404072 shares changing hands. The stock had previously closed at $61.23.

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

Tyson Foods Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. BMO Capital Markets lifted their price target on Tyson Foods from $58.00 to $60.00 and gave the stock a “market perform” rating in a research note on Tuesday. StockNews.com upgraded Tyson Foods from a “hold” rating to a “buy” rating in a report on Tuesday. Barclays upped their target price on shares of Tyson Foods from $69.00 to $72.00 and gave the stock an “overweight” rating in a report on Tuesday. 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, Bank of America lowered their price target on shares of Tyson Foods from $62.00 to $60.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 10th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $61.00.

Institutional Investors Weigh In On Tyson Foods

A number of hedge funds have recently modified their holdings of the company. Price T Rowe Associates Inc. MD grew its stake in shares of Tyson Foods by 0.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 13,697,401 shares of the company’s stock valued at $804,450,000 after buying an additional 128,274 shares during the period. Pzena Investment Management LLC lifted its holdings in Tyson Foods by 18.4% in the second quarter. Pzena Investment Management LLC now owns 12,489,564 shares of the company’s stock valued at $713,654,000 after acquiring an additional 1,939,508 shares during the last quarter. Wellington Management Group LLP grew its position in Tyson Foods by 6.2% in the fourth quarter. Wellington Management Group LLP now owns 10,335,646 shares of the company’s stock worth $555,541,000 after acquiring an additional 606,518 shares during the period. Charles Schwab Investment Management Inc. increased its stake in Tyson Foods by 0.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 6,647,913 shares of the company’s stock worth $357,325,000 after acquiring an additional 49,540 shares during the last quarter. Finally, Capital Research Global Investors raised its position in Tyson Foods by 153.2% in the fourth quarter. Capital Research Global Investors now owns 4,827,091 shares of the company’s stock valued at $259,456,000 after purchasing an additional 2,920,479 shares during the period. Hedge funds and other institutional investors own 67.00% of the company’s stock.

Tyson Foods Trading Down 1.6 %

The firm has a market cap of $21.97 billion, a price-to-earnings ratio of -34.57, a price-to-earnings-growth ratio of 0.46 and a beta of 0.74. 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 company 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.