Tyson Foods (NYSE:TSN) Announces Earnings Results

Tyson Foods (NYSE:TSNGet Rating) posted its earnings results on Monday. The company reported $1.63 earnings per share for the quarter, missing analysts’ consensus estimates of $1.70 by ($0.07), Briefing.com reports. Tyson Foods had a return on equity of 18.42% and a net margin of 7.75%. The business had revenue of $13.74 billion during the quarter, compared to the consensus estimate of $13.49 billion. During the same quarter last year, the firm earned $2.30 earnings per share. The business’s quarterly revenue was up 7.2% on a year-over-year basis. Tyson Foods updated its FY 2023 guidance to EPS.

Tyson Foods Stock Up 0.3 %

Shares of TSN stock traded up $0.18 during trading hours on Wednesday, reaching $64.52. 14,437 shares of the stock were exchanged, compared to its average volume of 2,743,561. The firm has a market capitalization of $23.20 billion, a P/E ratio of 7.21 and a beta of 0.72. Tyson Foods has a 12-month low of $62.94 and a 12-month high of $100.72. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.99 and a quick ratio of 0.85. The business’s fifty day moving average is $67.97 and its two-hundred day moving average is $78.79.

Tyson Foods Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 15th. Shareholders of record on Wednesday, March 1st will be issued a $0.48 dividend. This is a boost from Tyson Foods’s previous quarterly dividend of $0.46. This represents a $1.92 annualized dividend and a yield of 2.98%. The ex-dividend date is Tuesday, February 28th. Tyson Foods’s dividend payout ratio is presently 20.63%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. Argus downgraded shares of Tyson Foods from a “buy” rating to a “hold” rating in a report on Tuesday, September 13th. StockNews.com raised shares of Tyson Foods from a “hold” rating to a “buy” rating in a research note on Thursday, November 10th. BMO Capital Markets cut their price objective on shares of Tyson Foods from $90.00 to $75.00 and set a “market perform” rating on the stock in a report on Tuesday. JPMorgan Chase & Co. decreased their target price on shares of Tyson Foods from $75.00 to $70.00 and set a “neutral” rating on the stock in a research report on Tuesday. Finally, Stephens dropped their price objective on shares of Tyson Foods from $100.00 to $95.00 and set an “overweight” rating for the company in a research note on Tuesday, August 9th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $84.00.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in TSN. Brown Brothers Harriman & Co. lifted its holdings in Tyson Foods by 2,040.0% in the 1st quarter. Brown Brothers Harriman & Co. now owns 1,070 shares of the company’s stock worth $96,000 after buying an additional 1,020 shares in the last quarter. Zions Bancorporation N.A. increased its stake in shares of Tyson Foods by 374.1% during the first quarter. Zions Bancorporation N.A. now owns 1,522 shares of the company’s stock valued at $136,000 after acquiring an additional 1,201 shares during the period. Covestor Ltd grew its stake in shares of Tyson Foods by 116.6% in the 1st quarter. Covestor Ltd now owns 1,874 shares of the company’s stock worth $168,000 after purchasing an additional 1,009 shares during the last quarter. United Capital Financial Advisers LLC acquired a new stake in shares of Tyson Foods during the first quarter worth $212,000. Finally, Fund Management at Engine No. 1 LLC purchased a new position in shares of Tyson Foods in the first quarter worth approximately $222,000. 68.55% of the stock is owned by hedge funds and other institutional investors.

About Tyson Foods

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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 live market 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; and supplies poultry breeding stock; sells specialty products, such as hides and meats.

Further Reading

Earnings History for Tyson Foods (NYSE:TSN)

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