Tyson Foods (NYSE:TSN) Issues Quarterly Earnings Results, Misses Estimates By $0.07 EPS

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

Tyson Foods Trading Down 0.8 %

Tyson Foods stock opened at $64.34 on Wednesday. Tyson Foods has a 12-month low of $62.94 and a 12-month high of $100.72. The company has a current ratio of 1.99, a quick ratio of 0.85 and a debt-to-equity ratio of 0.42. The firm has a market capitalization of $23.14 billion, a price-to-earnings ratio of 7.21 and a beta of 0.72. The firm has a 50 day moving average of $67.97 and a 200 day moving average of $78.79.

Tyson Foods Increases Dividend

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Neuberger Berman Group LLC increased its stake in Tyson Foods by 16.2% in the third quarter. Neuberger Berman Group LLC now owns 84,692 shares of the company’s stock worth $5,595,000 after purchasing an additional 11,798 shares during the period. Pathstone Family Office LLC grew its position in Tyson Foods by 13.8% during the 3rd quarter. Pathstone Family Office LLC now owns 5,001 shares of the company’s stock worth $329,000 after purchasing an additional 608 shares during the last quarter. Walleye Capital LLC purchased a new stake in shares of Tyson Foods in the 2nd quarter valued at $245,000. Captrust Financial Advisors boosted its holdings in shares of Tyson Foods by 255.8% in the 2nd quarter. Captrust Financial Advisors now owns 51,006 shares of the company’s stock valued at $4,390,000 after acquiring an additional 36,669 shares during the last quarter. Finally, SVB Wealth LLC boosted its holdings in Tyson Foods by 24.8% during the second quarter. SVB Wealth LLC now owns 4,332 shares of the company’s stock worth $372,000 after buying an additional 860 shares in the last quarter. 68.55% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages recently commented on TSN. StockNews.com upgraded shares of Tyson Foods from a “hold” rating to a “buy” rating in a report on Thursday, November 10th. Piper Sandler cut their price objective on shares of Tyson Foods from $79.00 to $68.00 in a report on Thursday, October 27th. Stephens cut their price target on shares of Tyson Foods from $100.00 to $95.00 and set an “overweight” rating for the company in a report on Tuesday, August 9th. JPMorgan Chase & Co. lowered their price objective on shares of Tyson Foods from $75.00 to $70.00 and set a “neutral” rating for the company in a research report on Tuesday. Finally, Bank of America lowered shares of Tyson Foods from a “neutral” rating to an “underperform” rating and reduced their price objective for the company from $73.00 to $61.00 in a research note on Wednesday, November 9th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $84.00.

Tyson Foods Company Profile

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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.

See Also

Earnings History for Tyson Foods (NYSE:TSN)

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