Tyson Foods (NYSE:TSN) Price Target Raised to $54.00

Tyson Foods (NYSE:TSN) had its target price hoisted by The Goldman Sachs Group from $49.00 to $54.00 in a research report report published on Wednesday, Benzinga reports. The Goldman Sachs Group currently has a neutral rating on the stock.

A number of other research analysts have also recently weighed in on the stock. StockNews.com upgraded shares of Tyson Foods from a sell rating to a hold rating in a research report on Monday, January 22nd. Bank of America raised shares of Tyson Foods from an underperform rating to a neutral rating and lifted their price target for the company from $47.00 to $62.00 in a research note on Tuesday, February 6th. Stephens reissued an overweight rating and set a $70.00 target price on shares of Tyson Foods in a research report on Tuesday, February 6th. Piper Sandler lifted their price target on Tyson Foods from $44.00 to $48.00 and gave the company a neutral rating in a report on Friday, January 26th. Finally, Citigroup upped their price objective on Tyson Foods from $57.00 to $62.00 and gave the stock a neutral rating in a research note on Wednesday, April 3rd. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of Hold and a consensus target price of $58.80.

Tyson Foods Stock Performance

Shares of NYSE:TSN opened at $59.95 on Wednesday. The firm has a fifty day simple moving average of $56.12 and a two-hundred day simple moving average of $52.44. Tyson Foods has a 52 week low of $44.94 and a 52 week high of $63.28. The company has a quick ratio of 0.67, a current ratio of 1.49 and a debt-to-equity ratio of 0.46. The stock has a market capitalization of $21.36 billion, a P/E ratio of -24.27, a PEG ratio of 0.47 and a beta of 0.77.

Tyson Foods (NYSE:TSN) last issued its quarterly earnings data on Monday, February 5th. The company reported $0.69 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.28. The company had revenue of $13.32 billion for the quarter, compared to analysts’ expectations of $13.34 billion. Tyson Foods had a positive return on equity of 2.23% and a negative net margin of 1.62%. The firm’s revenue for the quarter was up .4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.85 earnings per share. On average, analysts expect that Tyson Foods will post 2.33 earnings per share for the current fiscal year.

Tyson Foods Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Friday, May 31st will be issued a $0.49 dividend. The ex-dividend date is Friday, May 31st. This represents a $1.96 dividend on an annualized basis and a dividend yield of 3.27%. Tyson Foods’s dividend payout ratio is currently -79.35%.

Insider Activity

In other news, Director Noel W. White sold 9,000 shares of the stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $53.75, for a total value of $483,750.00. Following the transaction, the director now directly owns 31,115 shares of the company’s stock, valued at $1,672,431.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 2.05% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. FORVIS Wealth Advisors LLC lifted its holdings in Tyson Foods by 6.3% in the first quarter. FORVIS Wealth Advisors LLC now owns 37,326 shares of the company’s stock valued at $2,192,000 after acquiring an additional 2,214 shares during the period. Leeward Investments LLC MA increased its holdings in shares of Tyson Foods by 4.4% during the 1st quarter. Leeward Investments LLC MA now owns 283,446 shares of the company’s stock valued at $16,647,000 after purchasing an additional 11,998 shares in the last quarter. Norden Group LLC acquired a new position in shares of Tyson Foods in the 1st quarter valued at $634,000. Sumitomo Mitsui Trust Holdings Inc. lifted its stake in shares of Tyson Foods by 1.2% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 687,851 shares of the company’s stock valued at $40,397,000 after purchasing an additional 7,833 shares during the period. Finally, State of Michigan Retirement System boosted its holdings in Tyson Foods by 0.4% during the first quarter. State of Michigan Retirement System now owns 96,728 shares of the company’s stock worth $5,681,000 after buying an additional 400 shares in the last quarter. Hedge funds and other institutional investors own 67.00% of the company’s stock.

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.