Short Interest in Tyson Foods, Inc. (NYSE:TSN) Declines By 21.8%

Tyson Foods, Inc. (NYSE:TSN) was the target of a significant drop in short interest during the month of February. As of February 28th, there was short interest totalling 5,540,000 shares, a drop of 21.8% from the February 13th total of 7,080,000 shares. Based on an average daily volume of 2,400,000 shares, the days-to-cover ratio is presently 2.3 days. Approximately 2.0% of the company’s shares are short sold.

Tyson Foods Stock Performance

Shares of Tyson Foods stock traded up $0.77 on Monday, reaching $60.65. 2,614,477 shares of the stock were exchanged, compared to its average volume of 2,149,829. The company has a quick ratio of 1.04, a current ratio of 2.11 and a debt-to-equity ratio of 0.52. Tyson Foods has a twelve month low of $53.61 and a twelve month high of $66.88. The firm has a market capitalization of $21.60 billion, a price-to-earnings ratio of 20.49, a PEG ratio of 0.74 and a beta of 0.72. The business has a 50 day moving average price of $58.04 and a two-hundred day moving average price of $59.84.

Tyson Foods (NYSE:TSN) last announced its quarterly earnings results on Monday, February 3rd. The company reported $1.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.79 by $0.35. Tyson Foods had a return on equity of 6.87% and a net margin of 1.96%. The company had revenue of $13.62 billion during the quarter, compared to the consensus estimate of $13.46 billion. During the same period in the previous year, the company posted $0.69 earnings per share. Tyson Foods’s revenue for the quarter was up 2.3% on a year-over-year basis. Analysts anticipate that Tyson Foods will post 3.8 earnings per share for the current fiscal year.

Tyson Foods Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Friday, May 30th will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 3.30%. The ex-dividend date is Friday, May 30th. Tyson Foods’s payout ratio is presently 67.57%.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Atria Investments Inc raised its stake in shares of Tyson Foods by 37.8% during the 3rd quarter. Atria Investments Inc now owns 13,789 shares of the company’s stock worth $821,000 after buying an additional 3,782 shares during the period. GSA Capital Partners LLP acquired a new position in shares of Tyson Foods during the 3rd quarter worth approximately $339,000. Oppenheimer & Co. Inc. raised its stake in shares of Tyson Foods by 43.3% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 15,063 shares of the company’s stock worth $897,000 after buying an additional 4,548 shares during the period. CIBC Asset Management Inc raised its stake in shares of Tyson Foods by 7.9% during the 3rd quarter. CIBC Asset Management Inc now owns 41,661 shares of the company’s stock worth $2,481,000 after buying an additional 3,043 shares during the period. Finally, Empirical Finance LLC raised its stake in shares of Tyson Foods by 2.1% during the 3rd quarter. Empirical Finance LLC now owns 9,957 shares of the company’s stock worth $593,000 after buying an additional 206 shares during the period. 67.00% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts recently weighed in on TSN shares. Barclays decreased their price objective on Tyson Foods from $76.00 to $75.00 and set an “overweight” rating for the company in a report on Tuesday, January 21st. Stephens lifted their price objective on Tyson Foods from $60.00 to $63.00 and gave the company an “equal weight” rating in a report on Tuesday, February 4th. Piper Sandler upgraded Tyson Foods from an “underweight” rating to a “neutral” rating and set a $58.00 price objective for the company in a report on Tuesday, February 4th. Hsbc Global Res upgraded Tyson Foods from a “moderate sell” rating to a “hold” rating in a research note on Monday, February 3rd. Finally, HSBC upgraded Tyson Foods from a “reduce” rating to a “hold” rating in a research note on Monday, February 3rd. Ten investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $61.10.

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.