Tyson Foods (NYSE:TSN) Shares Gap Down to $62.02

Tyson Foods, Inc. (NYSE:TSN - Get Free Report)'s stock price gapped down before the market opened on Monday . The stock had previously closed at $62.02, but opened at $60.69. Tyson Foods shares last traded at $58.07, with a volume of 3,466,912 shares trading hands.

Analyst Upgrades and Downgrades

TSN has been the subject of several recent research reports. Barclays raised shares of Tyson Foods from an "underweight" rating to an "overweight" rating and lifted their target price for the company from $53.00 to $69.00 in a report on Tuesday, April 16th. StockNews.com raised shares of Tyson Foods from a "sell" rating to a "hold" rating in a research note on Monday, January 22nd. BMO Capital Markets raised their price target on shares of Tyson Foods from $52.00 to $55.00 and gave the company a "market perform" rating in a research note on Tuesday, February 6th. Citigroup boosted their price objective on Tyson Foods from $57.00 to $62.00 and gave the stock a "neutral" rating in a research note on Wednesday, April 3rd. Finally, The Goldman Sachs Group raised their target price on Tyson Foods from $49.00 to $54.00 and gave the company a "neutral" rating in a research report on Wednesday, April 17th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat, Tyson Foods has a consensus rating of "Hold" and an average target price of $59.20.

Tyson Foods Stock Down 5.7 %

The firm has a market capitalization of $20.85 billion, a PE ratio of -23.68, a price-to-earnings-growth ratio of 0.49 and a beta of 0.74. The company has a quick ratio of 0.67, a current ratio of 1.49 and a debt-to-equity ratio of 0.46. The business has a 50-day moving average price of $57.80 and a 200-day moving average price of $53.53.

Tyson Foods (NYSE:TSN - Get Free Report) last issued its earnings results on Monday, May 6th. The company reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.39 by $0.23. The company had revenue of $13.07 billion during the quarter, compared to analysts' expectations of $13.16 billion. Tyson Foods had a positive return on equity of 2.23% and a negative net margin of 1.62%. The firm's quarterly revenue was down .5% on a year-over-year basis. During the same period in the prior year, the business earned ($0.04) EPS. Equities research analysts forecast that Tyson Foods, Inc. will post 2.33 earnings per share for the current fiscal year.

Tyson Foods Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Friday, May 31st will be issued a $0.49 dividend. The ex-dividend date is Friday, May 31st. This represents a $1.96 annualized dividend and a yield of 3.35%. Tyson Foods's payout ratio is -79.35%.

Insider Activity

In related news, Director Noel W. White sold 9,000 shares of the company's stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $53.75, for a total value of $483,750.00. Following the transaction, the director now directly owns 31,115 shares in the company, valued at $1,672,431.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 2.05% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Tyson Foods by 7.3% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 117,081 shares of the company's stock valued at $6,293,000 after acquiring an additional 7,921 shares during the last quarter. Check Capital Management Inc. CA acquired a new position in Tyson Foods in the third quarter valued at approximately $204,000. SG Americas Securities LLC raised its position in Tyson Foods by 157.1% in the fourth quarter. SG Americas Securities LLC now owns 47,188 shares of the company's stock valued at $2,536,000 after purchasing an additional 28,833 shares during the period. Rafferty Asset Management LLC raised its position in Tyson Foods by 11.1% in the third quarter. Rafferty Asset Management LLC now owns 21,273 shares of the company's stock valued at $1,074,000 after purchasing an additional 2,129 shares during the period. Finally, Markel Group Inc. raised its position in Tyson Foods by 28.3% in the third quarter. Markel Group Inc. now owns 577,500 shares of the company's stock valued at $29,158,000 after purchasing an additional 127,500 shares during the period. 67.00% of the stock is currently owned by institutional investors and hedge funds.

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.