Allstate Corp Invests $562,000 in Tyson Foods, Inc. $TSN

Allstate Corp purchased a new stake in shares of Tyson Foods, Inc. (NYSE:TSN) during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 10,355 shares of the company’s stock, valued at approximately $562,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of TSN. State of Alaska Department of Revenue increased its stake in Tyson Foods by 70.5% during the 2nd quarter. State of Alaska Department of Revenue now owns 57,141 shares of the company’s stock worth $3,195,000 after buying an additional 23,625 shares during the period. Robeco Institutional Asset Management B.V. grew its stake in shares of Tyson Foods by 66.6% in the second quarter. Robeco Institutional Asset Management B.V. now owns 332,578 shares of the company’s stock worth $18,604,000 after acquiring an additional 132,947 shares in the last quarter. Thrivent Financial for Lutherans grew its stake in shares of Tyson Foods by 55.3% in the second quarter. Thrivent Financial for Lutherans now owns 58,694 shares of the company’s stock worth $3,273,000 after acquiring an additional 20,888 shares in the last quarter. Y Intercept Hong Kong Ltd increased its position in shares of Tyson Foods by 128.9% during the second quarter. Y Intercept Hong Kong Ltd now owns 54,548 shares of the company’s stock worth $3,051,000 after acquiring an additional 30,713 shares during the period. Finally, Liberty One Investment Management LLC raised its stake in shares of Tyson Foods by 32.1% in the third quarter. Liberty One Investment Management LLC now owns 113,798 shares of the company’s stock valued at $6,179,000 after acquiring an additional 27,627 shares in the last quarter. 67.00% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts recently commented on TSN shares. Bank of America lowered their target price on Tyson Foods from $59.00 to $58.00 and set a “neutral” rating for the company in a research note on Wednesday, October 8th. Piper Sandler upped their target price on shares of Tyson Foods from $58.00 to $61.00 and gave the stock a “neutral” rating in a research note on Friday, December 12th. Santander assumed coverage on shares of Tyson Foods in a report on Thursday, September 25th. They issued a “neutral” rating on the stock. BMO Capital Markets set a $67.00 price target on shares of Tyson Foods and gave the stock an “outperform” rating in a report on Thursday, January 8th. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Tyson Foods in a research report on Monday, December 29th. Two equities research analysts have rated the stock with a Buy rating and thirteen have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $60.60.

Insiders Place Their Bets

In other news, CFO Curt Calaway sold 6,539 shares of Tyson Foods stock in a transaction dated Tuesday, November 25th. The stock was sold at an average price of $57.19, for a total transaction of $373,965.41. Following the sale, the chief financial officer owned 31,833 shares in the company, valued at approximately $1,820,529.27. The trade was a 17.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman John H. Tyson sold 100,301 shares of the business’s stock in a transaction dated Friday, November 28th. The shares were sold at an average price of $58.05, for a total value of $5,822,473.05. Following the completion of the sale, the chairman directly owned 2,989,415 shares of the company’s stock, valued at $173,535,540.75. The trade was a 3.25% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 2.11% of the stock is owned by insiders.

Tyson Foods Price Performance

TSN stock opened at $61.05 on Friday. The business has a 50 day moving average price of $57.76 and a 200 day moving average price of $55.51. The company has a quick ratio of 0.66, a current ratio of 1.55 and a debt-to-equity ratio of 0.43. The stock has a market cap of $21.55 billion, a price-to-earnings ratio of 45.90, a PEG ratio of 1.38 and a beta of 0.48. Tyson Foods, Inc. has a fifty-two week low of $50.56 and a fifty-two week high of $64.36.

Tyson Foods (NYSE:TSN) last released its quarterly earnings data on Monday, November 10th. The company reported $1.15 earnings per share for the quarter, topping analysts’ consensus estimates of $0.85 by $0.30. The company had revenue of $13.86 billion for the quarter, compared to analysts’ expectations of $14.08 billion. Tyson Foods had a net margin of 0.87% and a return on equity of 7.95%. The firm’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same quarter last year, the company earned $0.92 earnings per share. Equities research analysts anticipate that Tyson Foods, Inc. will post 3.8 earnings per share for the current fiscal year.

Tyson Foods Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 13th. Investors of record on Friday, February 27th will be paid a dividend of $0.51 per share. The ex-dividend date is Friday, February 27th. This represents a $2.04 annualized dividend and a yield of 3.3%. This is an increase from Tyson Foods’s previous quarterly dividend of $0.50. Tyson Foods’s dividend payout ratio (DPR) is 153.38%.

Tyson Foods Profile

Tyson Foods, Inc (NYSE: TSN) is a multinational food company primarily engaged in the production, processing and marketing of protein-based and prepared food products. Founded in 1935 and headquartered in Springdale, Arkansas, the company is one of the world’s largest processors of chicken, beef and pork. Its operations span live animal procurement and farming relationships through slaughter, further processing and distribution, supplying raw protein and value-added prepared foods to retail, foodservice and industrial customers.

The company’s product portfolio covers fresh and frozen meats, branded and private-label prepared foods, and a range of value-added items such as ready-to-eat and ready-to-cook meals, snack and sandwich meats.