Tyson Foods (NYSE:TSN) Releases Quarterly Earnings Results, Beats Estimates By $0.11 EPS

Tyson Foods (NYSE:TSN) announced its quarterly earnings results on Monday. The company reported $0.87 earnings per share for the quarter, beating the consensus estimate of $0.76 by $0.11, FiscalAI reports. Tyson Foods had a return on equity of 7.67% and a net margin of 0.36%.The firm had revenue of $13.65 billion during the quarter, compared to analyst estimates of $13.63 billion.

Tyson Foods Price Performance

NYSE:TSN opened at $63.76 on Monday. Tyson Foods has a 12 month low of $50.56 and a 12 month high of $66.41. The stock has a 50 day moving average of $63.07 and a two-hundred day moving average of $59.75. The company has a current ratio of 1.53, a quick ratio of 0.66 and a debt-to-equity ratio of 0.41. The firm has a market cap of $22.45 billion, a P/E ratio of 113.85, a price-to-earnings-growth ratio of 1.38 and a beta of 0.40.

Tyson Foods Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Monday, June 1st will be paid a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a yield of 3.2%. The ex-dividend date is Monday, June 1st. Tyson Foods’s payout ratio is 364.29%.

Analyst Upgrades and Downgrades

TSN has been the subject of several recent analyst reports. Argus upgraded Tyson Foods to a “hold” rating in a research note on Friday, February 6th. Sanford C. Bernstein restated a “market perform” rating and issued a $69.00 price target on shares of Tyson Foods in a research note on Tuesday, February 3rd. BMO Capital Markets lifted their price target on Tyson Foods from $67.00 to $73.00 and gave the company an “outperform” rating in a research note on Tuesday, February 3rd. JPMorgan Chase & Co. cut their price target on Tyson Foods from $67.00 to $65.00 and set a “neutral” rating for the company in a research note on Tuesday, March 24th. Finally, Piper Sandler upgraded Tyson Foods from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $61.00 to $75.00 in a research note on Monday, April 6th. Five investment analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $66.45.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. State Street Corp lifted its holdings in Tyson Foods by 0.6% in the third quarter. State Street Corp now owns 14,075,676 shares of the company’s stock valued at $764,309,000 after acquiring an additional 85,282 shares during the last quarter. AQR Capital Management LLC lifted its holdings in Tyson Foods by 20.6% in the fourth quarter. AQR Capital Management LLC now owns 8,114,441 shares of the company’s stock valued at $475,669,000 after acquiring an additional 1,387,645 shares during the last quarter. Invesco Ltd. lifted its holdings in Tyson Foods by 1.4% in the fourth quarter. Invesco Ltd. now owns 6,055,876 shares of the company’s stock valued at $354,995,000 after acquiring an additional 83,861 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in Tyson Foods by 4.2% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,317,378 shares of the company’s stock valued at $311,706,000 after acquiring an additional 215,655 shares during the last quarter. Finally, Northern Trust Corp lifted its holdings in Tyson Foods by 2.1% in the fourth quarter. Northern Trust Corp now owns 4,601,488 shares of the company’s stock valued at $269,739,000 after acquiring an additional 94,003 shares during the last quarter. 67.00% of the stock is currently owned by institutional investors and hedge funds.

About Tyson Foods

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.