Tyson Foods (NYSE:TSN) Upgraded by Barclays to “Overweight”

Barclays upgraded shares of Tyson Foods (NYSE:TSN) from an underweight rating to an overweight rating in a research note released on Tuesday morning, MarketBeat Ratings reports. The firm currently has $69.00 price objective on the stock, up from their previous price objective of $53.00.

A number of other analysts also recently weighed in on TSN. BMO Capital Markets lifted their price target on Tyson Foods from $52.00 to $55.00 and gave the company a market perform rating in a research note on Tuesday, February 6th. Stephens restated an overweight rating and set a $70.00 target price on shares of Tyson Foods in a research report on Tuesday, February 6th. Citigroup upped their price target on shares of Tyson Foods from $57.00 to $62.00 and gave the stock a neutral rating in a research note on Wednesday, April 3rd. StockNews.com upgraded shares of Tyson Foods from a sell rating to a hold rating in a research note on Monday, January 22nd. Finally, Piper Sandler upped their target price on shares of Tyson Foods from $44.00 to $48.00 and gave the stock a neutral rating in a research report on Friday, January 26th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of Hold and a consensus price target of $58.80.

Tyson Foods Stock Performance

Shares of TSN opened at $59.95 on Tuesday. The stock has a market capitalization of $21.36 billion, a P/E ratio of -24.27, a P/E/G ratio of 0.47 and a beta of 0.77. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.67 and a current ratio of 1.49. Tyson Foods has a 1 year low of $44.94 and a 1 year high of $63.28. The company’s fifty day moving average is $56.12 and its two-hundred day moving average is $52.44.

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

Tyson Foods Announces Dividend

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

Insider Buying and Selling

In related news, Director Noel W. White sold 9,000 shares of the stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $53.75, for a total transaction of $483,750.00. Following the sale, the director now owns 31,115 shares of the company’s stock, valued at $1,672,431.25. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 2.05% of the company’s stock.

Hedge Funds Weigh In On Tyson Foods

Institutional investors and hedge funds have recently modified their holdings of the company. Wetherby Asset Management Inc. boosted its stake in Tyson Foods by 5.1% in the 1st quarter. Wetherby Asset Management Inc. now owns 4,031 shares of the company’s stock worth $361,000 after buying an additional 196 shares during the last quarter. Ridgewood Investments LLC grew its holdings in Tyson Foods by 0.8% in the first quarter. Ridgewood Investments LLC now owns 25,741 shares of the company’s stock valued at $1,512,000 after purchasing an additional 199 shares during the period. Massmutual Trust Co. FSB ADV increased its position in Tyson Foods by 47.4% during the fourth quarter. Massmutual Trust Co. FSB ADV now owns 647 shares of the company’s stock worth $35,000 after purchasing an additional 208 shares during the last quarter. Spire Wealth Management increased its position in Tyson Foods by 21.7% during the fourth quarter. Spire Wealth Management now owns 1,340 shares of the company’s stock worth $71,000 after purchasing an additional 239 shares during the last quarter. Finally, Allworth Financial LP raised its stake in Tyson Foods by 26.1% during the fourth quarter. Allworth Financial LP now owns 1,185 shares of the company’s stock worth $64,000 after purchasing an additional 245 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, 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.