Tyson Foods, Inc. (NYSE:TSN) declared a quarterly dividend on Monday, February 12th, RTT News reports. Shareholders of record on Friday, June 1st will be paid a dividend of 0.30 per share on Friday, June 15th. This represents a $1.20 dividend on an annualized basis and a yield of 1.61%.
Tyson Foods has increased its dividend by an average of 44.2% annually over the last three years and has raised its dividend every year for the last 6 years. Tyson Foods has a payout ratio of 20.6% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Tyson Foods to earn $6.26 per share next year, which means the company should continue to be able to cover its $1.20 annual dividend with an expected future payout ratio of 19.2%.
Shares of Tyson Foods (NYSE:TSN) traded down $0.34 during mid-day trading on Monday, reaching $74.53. 2,215,841 shares of the company’s stock were exchanged, compared to its average volume of 2,296,944. The company has a quick ratio of 0.70, a current ratio of 1.51 and a debt-to-equity ratio of 0.74. Tyson Foods has a one year low of $57.20 and a one year high of $84.65. The stock has a market capitalization of $27,590.00, a P/E ratio of 9.73 and a beta of 0.17.
In related news, CFO Dennis Leatherby sold 115,293 shares of Tyson Foods stock in a transaction that occurred on Thursday, November 30th. The shares were sold at an average price of $82.09, for a total value of $9,464,402.37. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Bebber David L. Van sold 164,348 shares of Tyson Foods stock in a transaction that occurred on Wednesday, December 6th. The shares were sold at an average price of $83.26, for a total transaction of $13,683,614.48. The disclosure for this sale can be found here. Insiders sold 397,342 shares of company stock valued at $32,702,254 in the last 90 days. Company insiders own 1.55% of the company’s stock.
TSN has been the subject of a number of recent analyst reports. Zacks Investment Research cut shares of Tyson Foods from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 6th. KeyCorp reiterated a “buy” rating and set a $88.00 price target on shares of Tyson Foods in a research report on Thursday, December 21st. Piper Jaffray Companies initiated coverage on shares of Tyson Foods in a research report on Thursday, January 4th. They set an “overweight” rating and a $94.00 price target for the company. ValuEngine upgraded shares of Tyson Foods from a “hold” rating to a “buy” rating in a research report on Monday, November 20th. Finally, upgraded shares of Tyson Foods from a “sell” rating to a “hold” rating and set a $75.00 price target for the company in a research report on Wednesday, November 15th. Seven equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. Tyson Foods presently has a consensus rating of “Buy” and a consensus price target of $76.31.
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About Tyson Foods
Tyson Foods, Inc is a food company, which is engaged in offering chicken, beef and pork, as well as prepared foods. The Company offers food products under Tyson, Jimmy Dean, Hillshire Farm, Sara Lee, Ball Park, Wright, Aidells and State Fair brands. The Company operates through four segments: Chicken, Beef, Pork and Prepared Foods.
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