Tyson Foods, Inc. (NYSE:TSN) to Issue $0.49 Quarterly Dividend

Tyson Foods, Inc. (NYSE:TSN) declared a quarterly dividend on Thursday, August 8th,RTT News reports. Shareholders of record on Friday, November 29th will be given a dividend of 0.49 per share on Friday, December 13th. This represents a $1.96 annualized dividend and a yield of 3.04%. The ex-dividend date is Friday, November 29th.

Tyson Foods has increased its dividend by an average of 4.0% annually over the last three years. Tyson Foods has a payout ratio of 55.8% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Tyson Foods to earn $4.30 per share next year, which means the company should continue to be able to cover its $1.96 annual dividend with an expected future payout ratio of 45.6%.

Tyson Foods Stock Performance

TSN stock opened at $64.44 on Thursday. The business’s 50-day moving average price is $60.26 and its two-hundred day moving average price is $59.96. Tyson Foods has a 1-year low of $46.51 and a 1-year high of $66.88. The firm has a market cap of $22.93 billion, a PE ratio of 28.64, a P/E/G ratio of 0.96 and a beta of 0.78. The company has a current ratio of 2.04, a quick ratio of 0.95 and a debt-to-equity ratio of 0.52.

Analysts Set New Price Targets

TSN has been the topic of several recent research reports. Citigroup dropped their price target on Tyson Foods from $63.00 to $60.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 9th. Bank of America lowered their target price on Tyson Foods from $65.00 to $62.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 15th. BMO Capital Markets lifted their target price on Tyson Foods from $60.00 to $62.00 and gave the company a “market perform” rating in a research report on Wednesday, November 13th. JPMorgan Chase & Co. lifted their target price on Tyson Foods from $61.00 to $63.00 and gave the company a “neutral” rating in a research report on Tuesday, August 6th. Finally, Stephens lifted their target price on Tyson Foods from $57.00 to $60.00 and gave the company an “equal weight” rating in a research report on Wednesday, November 13th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $60.67.

Insiders Place Their Bets

In other news, General Counsel Adam S. Deckinger sold 10,500 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $64.80, for a total transaction of $680,400.00. Following the completion of the sale, the general counsel now owns 19,260 shares in the company, valued at $1,248,048. The trade was a 35.28 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Wes Morris sold 22,783 shares of the business’s stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $62.71, for a total value of $1,428,721.93. Following the sale, the insider now owns 15,937 shares of the company’s stock, valued at approximately $999,409.27. This represents a 58.84 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 414,814 shares of company stock valued at $26,450,955 over the last 90 days. 2.05% of the stock is currently owned by insiders.

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.