Tyson Foods (NYSE:TSN) Shares Gap Down – Here’s What Happened

Shares of Tyson Foods, Inc. (NYSE:TSN) gapped down before the market opened on Thursday . The stock had previously closed at $55.81, but opened at $52.16. Tyson Foods shares last traded at $52.8350, with a volume of 1,024,890 shares changing hands.

Wall Street Analyst Weigh In

TSN has been the topic of several recent research reports. Weiss Ratings downgraded Tyson Foods from a “hold (c+)” rating to a “hold (c)” rating in a research note on Thursday, July 9th. Zacks Research cut Tyson Foods from a “hold” rating to a “strong sell” rating in a report on Thursday, August 6th. Bank of America dropped their price target on Tyson Foods from $70.00 to $68.00 and set a “neutral” rating for the company in a research note on Thursday, July 2nd. Wall Street Zen cut Tyson Foods from a “buy” rating to a “hold” rating in a report on Saturday, June 20th. Finally, HSBC decreased their price objective on Tyson Foods from $74.00 to $69.00 and set a “hold” rating on the stock in a report on Wednesday, July 29th. Four equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Tyson Foods has an average rating of “Hold” and an average target price of $70.67.

Tyson Foods Price Performance

The business has a 50 day moving average price of $57.87 and a two-hundred day moving average price of $60.92. The stock has a market cap of $18.42 billion, a PE ratio of 32.42, a P/E/G ratio of 1.84 and a beta of 0.38. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.55 and a current ratio of 1.43.

Tyson Foods (NYSE:TSN) last posted its quarterly earnings data on Monday, August 3rd. The company reported $0.99 EPS for the quarter, meeting the consensus estimate of $0.99. The business had revenue of $13.87 billion for the quarter, compared to the consensus estimate of $14.07 billion. Tyson Foods had a return on equity of 7.77% and a net margin of 1.03%.Tyson Foods’s revenue for the quarter was down .1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.91 earnings per share. Research analysts expect that Tyson Foods, Inc. will post 3.95 earnings per share for the current fiscal year.

Tyson Foods Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 15th. Shareholders of record on Tuesday, December 1st will be given a $0.51 dividend. The ex-dividend date is Tuesday, December 1st. This represents a $2.04 dividend on an annualized basis and a dividend yield of 3.9%. Tyson Foods’s payout ratio is presently 125.93%.

Institutional Trading of Tyson Foods

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TSN. VELA Investment Management LLC grew its stake in shares of Tyson Foods by 8.1% in the 2nd quarter. VELA Investment Management LLC now owns 21,558 shares of the company’s stock worth $1,234,000 after buying an additional 1,610 shares during the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in shares of Tyson Foods during the second quarter valued at $11,267,000. California State Teachers Retirement System raised its position in shares of Tyson Foods by 5,655.3% in the 2nd quarter. California State Teachers Retirement System now owns 18,780,118 shares of the company’s stock worth $1,075,162,000 after purchasing an additional 18,453,808 shares during the last quarter. AlphaGrep UK Ltd purchased a new position in shares of Tyson Foods in the 2nd quarter worth about $939,000. Finally, denkapparat Operations GmbH bought a new position in Tyson Foods in the 2nd quarter worth about $626,000. 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.