Tyson Foods, Inc. Declares Quarterly Dividend of $0.38 (TSN)
Tyson Foods, Inc. (NYSE:TSN) announced a quarterly dividend on Wednesday, February 6th, RTT News reports. Investors of record on Friday, May 31st will be given a dividend of 0.375 per share on Friday, June 14th. This represents a $1.50 annualized dividend and a yield of 1.84%. The ex-dividend date is Thursday, May 30th.
Tyson Foods has increased its dividend payment by an average of 41.5% annually over the last three years and has raised its dividend every year for the last 7 years. Tyson Foods has a dividend payout ratio of 25.5% meaning its dividend is sufficiently covered by earnings. Research analysts expect Tyson Foods to earn $6.55 per share next year, which means the company should continue to be able to cover its $1.50 annual dividend with an expected future payout ratio of 22.9%.
NYSE TSN opened at $81.46 on Friday. Tyson Foods has a one year low of $49.77 and a one year high of $83.36. The company has a market cap of $29.73 billion, a P/E ratio of 13.22 and a beta of 0.51. The company has a quick ratio of 0.54, a current ratio of 1.38 and a debt-to-equity ratio of 0.80.
Several brokerages have issued reports on TSN. BMO Capital Markets reiterated a “top pick” rating and issued a $90.00 price target on shares of Tyson Foods in a report on Tuesday, May 7th. They noted that the move was a valuation call. Zacks Investment Research upgraded Tyson Foods from a “hold” rating to a “buy” rating and set a $86.00 price target on the stock in a report on Wednesday, May 8th. ValuEngine upgraded Tyson Foods from a “hold” rating to a “buy” rating in a report on Tuesday, May 14th. Credit Suisse Group upgraded Tyson Foods from a “neutral” rating to an “outperform” rating and increased their price target for the stock from $74.00 to $96.00 in a report on Tuesday, May 14th. Finally, Argus upgraded Tyson Foods from a “hold” rating to a “buy” rating and set a $92.00 price target on the stock in a report on Tuesday, May 14th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $77.94.
In other news, EVP Scott Rouse sold 2,500 shares of the firm’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $64.22, for a total value of $160,550.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Sally Grimes sold 83,490 shares of the firm’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $78.00, for a total value of $6,512,220.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 170,423 shares of company stock worth $13,353,295. Corporate insiders own 1.69% of the company’s stock.
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About Tyson Foods
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; and raises and processes chickens into fresh, frozen, and value-added chicken products.
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