Tyson Foods (NYSE:TSN) Lowered to Strong Sell Rating by Zacks Research

Zacks Research cut shares of Tyson Foods (NYSE:TSN) from a hold rating to a strong sell rating in a report published on Thursday,Zacks.com reports.

TSN has been the subject of several other reports. HSBC dropped their price target on Tyson Foods from $74.00 to $69.00 and set a “hold” rating for the company in a research report on Wednesday, July 29th. Piper Sandler reaffirmed an “overweight” rating and set a $78.00 target price (down from $80.00) on shares of Tyson Foods in a research note on Thursday, June 18th. BMO Capital Markets reaffirmed an “outperform” rating on shares of Tyson Foods in a report on Tuesday, May 5th. Sanford C. Bernstein reduced their target price on shares of Tyson Foods from $72.00 to $63.00 and set a “market perform” rating for the company in a research report on Thursday, July 2nd. Finally, JPMorgan Chase & Co. decreased their price target on shares of Tyson Foods from $71.00 to $65.00 and set a “neutral” rating on the stock in a research note on Tuesday, July 14th. Four investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $70.67.

Tyson Foods Price Performance

NYSE:TSN opened at $57.98 on Thursday. Tyson Foods has a 12 month low of $50.56 and a 12 month high of $69.48. The stock has a 50 day moving average of $57.92 and a two-hundred day moving average of $61.80. The company has a current ratio of 1.43, a quick ratio of 0.70 and a debt-to-equity ratio of 0.36. The firm has a market cap of $20.42 billion, a P/E ratio of 35.79, a price-to-earnings-growth ratio of 1.25 and a beta of 0.40.

Tyson Foods (NYSE:TSN) last announced its earnings results on Monday, August 3rd. The company reported $0.99 EPS for the quarter, meeting analysts’ consensus estimates of $0.99. The business had revenue of $13.87 billion during the quarter, compared to analysts’ expectations of $14.07 billion. Tyson Foods had a return on equity of 7.77% and a net margin of 1.03%.The business’s revenue was down .1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.91 earnings per share. On average, analysts expect that Tyson Foods will post 3.95 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 Tuesday, December 15th. Stockholders of record on Tuesday, December 1st will be issued a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a dividend yield of 3.5%. The ex-dividend date is Tuesday, December 1st. Tyson Foods’s payout ratio is currently 125.93%.

Institutional Investors Weigh In On Tyson Foods

A number of hedge funds have recently modified their holdings of TSN. City Holding Co. acquired a new position in Tyson Foods in the 4th quarter valued at about $29,000. Cary Street Partners Investment Advisory LLC grew its stake in shares of Tyson Foods by 62.3% in the 4th quarter. Cary Street Partners Investment Advisory LLC now owns 516 shares of the company’s stock valued at $30,000 after buying an additional 198 shares during the period. Ascentis Independent Advisors acquired a new stake in shares of Tyson Foods during the 1st quarter worth approximately $30,000. Basecamp Wealth Advisors LLC increased its holdings in shares of Tyson Foods by 272.8% during the 1st quarter. Basecamp Wealth Advisors LLC now owns 466 shares of the company’s stock worth $30,000 after buying an additional 341 shares during the last quarter. Finally, Cedar Mountain Advisors LLC raised its position in shares of Tyson Foods by 293.5% during the 1st quarter. Cedar Mountain Advisors LLC now owns 488 shares of the company’s stock valued at $31,000 after buying an additional 364 shares during the period. Hedge funds and other institutional investors own 67.00% of the company’s stock.

Tyson Foods Company Profile

Tyson Foods, Inc (NYSE: TSN) is a multinational food company primarily engaged in the production, processing and marketing of protein-based and prepared food products. Founded in 1935 and headquartered in Springdale, Arkansas, the company is one of the world’s largest processors of chicken, beef and pork. Its operations span live animal procurement and farming relationships through slaughter, further processing and distribution, supplying raw protein and value-added prepared foods to retail, foodservice and industrial customers.

The company’s product portfolio covers fresh and frozen meats, branded and private-label prepared foods, and a range of value-added items such as ready-to-eat and ready-to-cook meals, snack and sandwich meats.