Tyson Foods (NYSE:TSN) Shares Gap Down to $60.52

Tyson Foods, Inc. (NYSE:TSN - Get Free Report)'s share price gapped down before the market opened on Wednesday . The stock had previously closed at $60.52, but opened at $58.65. Tyson Foods shares last traded at $58.50, with a volume of 429,241 shares.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on TSN. BMO Capital Markets increased their target price on shares of Tyson Foods from $58.00 to $60.00 and gave the company a "market perform" rating in a research report on Tuesday, August 6th. Barclays raised their target price on shares of Tyson Foods from $72.00 to $76.00 and gave the stock an "overweight" rating in a research note on Monday, September 9th. StockNews.com upgraded Tyson Foods from a "hold" rating to a "buy" rating in a research report on Tuesday, August 6th. Bank of America reduced their price objective on Tyson Foods from $62.00 to $60.00 and set a "neutral" rating on the stock in a research report on Wednesday, July 10th. Finally, Piper Sandler cut Tyson Foods from a "neutral" rating to an "underweight" rating and dropped their target price for the company from $57.00 to $50.00 in a report on Wednesday. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $60.67.

Tyson Foods Price Performance

The stock has a 50-day simple moving average of $62.13 and a 200 day simple moving average of $59.49. The company has a market cap of $20.62 billion, a PE ratio of -32.56, a P/E/G ratio of 0.42 and a beta of 0.78. The company has a quick ratio of 0.95, a current ratio of 1.82 and a debt-to-equity ratio of 0.53.

Tyson Foods (NYSE:TSN - Get Free Report) last announced its quarterly earnings results on Monday, August 5th. The company reported $0.87 earnings per share for the quarter, beating analysts' consensus estimates of $0.65 by $0.22. The business had revenue of $13.35 billion during 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 business's revenue for the quarter was up 1.6% on a year-over-year basis. During the same period last year, the business earned $0.15 earnings per share. Equities analysts expect that Tyson Foods, Inc. will post 2.82 EPS for the current year.

Tyson Foods Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be issued a dividend of $0.49 per share. This represents a $1.96 dividend on an annualized basis and a yield of 3.38%. The ex-dividend date is Friday, November 29th. Tyson Foods's dividend payout ratio (DPR) is -110.11%.

Institutional Investors Weigh In On Tyson Foods

Hedge funds have recently added to or reduced their stakes in the business. First Financial Corp IN purchased a new position in shares of Tyson Foods in the 1st quarter valued at about $35,000. Pittenger & Anderson Inc. acquired a new position in Tyson Foods during the 1st quarter worth approximately $42,000. Lindbrook Capital LLC increased its position in shares of Tyson Foods by 42.0% in the 1st quarter. Lindbrook Capital LLC now owns 724 shares of the company's stock valued at $43,000 after purchasing an additional 214 shares during the last quarter. Mather Group LLC. acquired a new stake in shares of Tyson Foods in the 1st quarter valued at $49,000. Finally, Hantz Financial Services Inc. purchased a new stake in shares of Tyson Foods during the 2nd quarter worth $54,000. 67.00% of the stock is currently owned by institutional investors and hedge funds.

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.