Echo Street Capital Management LLC raised its stake in Tyson Foods, Inc. (NYSE:TSN – Get Rating) by 171.4% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 14,908 shares of the company’s stock after acquiring an additional 9,414 shares during the quarter. Echo Street Capital Management LLC’s holdings in Tyson Foods were worth $1,336,000 at the end of the most recent reporting period.
A number of other large investors also recently bought and sold shares of TSN. Bank of New Hampshire purchased a new stake in shares of Tyson Foods in the first quarter valued at approximately $27,000. Keybank National Association OH purchased a new stake in shares of Tyson Foods in the first quarter valued at approximately $489,000. Glenmede Trust Co. NA increased its position in shares of Tyson Foods by 0.4% during the fourth quarter. Glenmede Trust Co. NA now owns 203,403 shares of the company’s stock worth $17,729,000 after purchasing an additional 893 shares in the last quarter. Metis Global Partners LLC increased its position in shares of Tyson Foods by 44.9% during the first quarter. Metis Global Partners LLC now owns 6,736 shares of the company’s stock worth $603,000 after purchasing an additional 2,088 shares in the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in shares of Tyson Foods by 5.7% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 39,131 shares of the company’s stock worth $3,507,000 after purchasing an additional 2,126 shares in the last quarter. 68.55% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several brokerages recently commented on TSN. Sanford C. Bernstein dropped their price target on Tyson Foods to $101.00 in a research report on Monday, August 15th. Barclays dropped their target price on Tyson Foods from $100.00 to $89.00 and set an “equal weight” rating for the company in a report on Tuesday, August 9th. Piper Sandler upgraded Tyson Foods from an “underweight” rating to a “neutral” rating and set a $79.00 target price for the company in a report on Tuesday, August 9th. They noted that the move was a valuation call. Stephens dropped their target price on Tyson Foods from $100.00 to $95.00 and set an “overweight” rating for the company in a report on Tuesday, August 9th. Finally, BMO Capital Markets dropped their target price on Tyson Foods from $99.00 to $90.00 in a report on Tuesday, August 9th. Six research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $93.13.
Tyson Foods Price Performance
Tyson Foods (NYSE:TSN – Get Rating) last issued its quarterly earnings results on Monday, August 8th. The company reported $1.94 earnings per share for the quarter, missing the consensus estimate of $1.97 by ($0.03). Tyson Foods had a return on equity of 18.42% and a net margin of 7.75%. The company had revenue of $13.50 billion for the quarter, compared to analysts’ expectations of $13.25 billion. During the same quarter last year, the company earned $2.70 EPS. Tyson Foods’s revenue for the quarter was up 8.2% compared to the same quarter last year. As a group, sell-side analysts expect that Tyson Foods, Inc. will post 8.85 earnings per share for the current year.
Tyson Foods Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 15th. Stockholders of record on Thursday, December 1st will be issued a $0.46 dividend. The ex-dividend date of this dividend is Wednesday, November 30th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 2.43%. Tyson Foods’s payout ratio is currently 16.53%.
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; 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.
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