JPMorgan Chase & Co. Boosts Tyson Foods (NYSE:TSN) Price Target to $63.00

Tyson Foods (NYSE:TSN) had its price target hoisted by JPMorgan Chase & Co. from $61.00 to $63.00 in a research note published on Tuesday, Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the stock.

Other analysts have also recently issued research reports about the company. HSBC upped their price objective on Tyson Foods from $48.00 to $51.00 and gave the company a reduce rating in a research report on Tuesday, May 7th. Barclays increased their price objective on shares of Tyson Foods from $69.00 to $72.00 and gave the stock an overweight rating in a research note on Tuesday. Piper Sandler boosted their target price on shares of Tyson Foods from $55.00 to $57.00 and gave the company a neutral rating in a research report on Tuesday, May 7th. The Goldman Sachs Group upped their target price on shares of Tyson Foods from $49.00 to $54.00 and gave the company a neutral rating in a report on Wednesday, April 17th. Finally, BMO Capital Markets lifted their price target on shares of Tyson Foods from $58.00 to $60.00 and gave the stock a market perform rating in a research note on Tuesday. One analyst has rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of Hold and an average target price of $61.00.

Tyson Foods Stock Performance

Shares of NYSE TSN opened at $61.89 on Tuesday. The firm’s 50-day moving average price is $57.86 and its 200-day moving average price is $57.35. Tyson Foods has a 52-week low of $44.94 and a 52-week high of $63.90. The company has a market cap of $22.09 billion, a PE ratio of -34.77, a PEG ratio of 0.44 and a beta of 0.74. The company has a quick ratio of 0.87, a current ratio of 1.82 and a debt-to-equity ratio of 0.53.

Tyson Foods (NYSE:TSN) last issued its earnings results on Monday, August 5th. The company reported $0.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.65 by $0.22. The company had revenue of $13.35 billion for the quarter, compared to analysts’ expectations of $13.21 billion. Tyson Foods had a negative net margin of 0.01% and a positive return on equity of 4.97%. The firm’s quarterly revenue was up 1.6% on a year-over-year basis. During the same quarter last year, the company posted $0.15 earnings per share. As a group, analysts anticipate that Tyson Foods will post 2.74 EPS for the current year.

Tyson Foods Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be paid a $0.49 dividend. This represents a $1.96 dividend on an annualized basis and a dividend yield of 3.17%. Tyson Foods’s dividend payout ratio (DPR) is presently -110.11%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Tyson Foods by 7.3% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 117,081 shares of the company’s stock valued at $6,293,000 after acquiring an additional 7,921 shares during the period. Retirement Systems of Alabama raised its stake in Tyson Foods by 0.5% during the 1st quarter. Retirement Systems of Alabama now owns 63,199 shares of the company’s stock valued at $3,712,000 after purchasing an additional 337 shares during the period. Pzena Investment Management LLC raised its stake in Tyson Foods by 8.2% during the 4th quarter. Pzena Investment Management LLC now owns 5,887,724 shares of the company’s stock valued at $316,465,000 after purchasing an additional 446,904 shares during the period. Oppenheimer & Co. Inc. lifted its holdings in Tyson Foods by 100.7% in the 1st quarter. Oppenheimer & Co. Inc. now owns 10,315 shares of the company’s stock worth $606,000 after purchasing an additional 5,175 shares in the last quarter. Finally, Eisler Capital UK Ltd. bought a new position in Tyson Foods in the 4th quarter worth approximately $1,399,000. 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.