Truist Financial Corp Cuts Stock Position in Tyson Foods, Inc. $TSN

Truist Financial Corp trimmed its position in shares of Tyson Foods, Inc. (NYSE:TSN) by 31.3% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 46,118 shares of the company’s stock after selling 20,986 shares during the period. Truist Financial Corp’s holdings in Tyson Foods were worth $2,504,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Harbor Capital Advisors Inc. boosted its stake in shares of Tyson Foods by 93.1% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 473 shares of the company’s stock valued at $26,000 after purchasing an additional 228 shares in the last quarter. NewSquare Capital LLC lifted its stake in Tyson Foods by 175.3% in the second quarter. NewSquare Capital LLC now owns 512 shares of the company’s stock worth $29,000 after purchasing an additional 326 shares during the last quarter. Root Financial Partners LLC purchased a new stake in Tyson Foods during the third quarter valued at about $28,000. First Command Advisory Services Inc. boosted its position in Tyson Foods by 389.8% during the second quarter. First Command Advisory Services Inc. now owns 578 shares of the company’s stock valued at $32,000 after buying an additional 460 shares during the period. Finally, MTM Investment Management LLC bought a new position in shares of Tyson Foods during the second quarter valued at about $36,000. Institutional investors own 67.00% of the company’s stock.

Insiders Place Their Bets

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

Tyson Foods Price Performance

Shares of NYSE TSN opened at $65.34 on Friday. Tyson Foods, Inc. has a 1 year low of $50.56 and a 1 year high of $66.41. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.53 and a quick ratio of 0.66. The company’s 50-day moving average is $59.82 and its 200 day moving average is $56.31. The stock has a market capitalization of $23.07 billion, a P/E ratio of 116.68, a P/E/G ratio of 1.44 and a beta of 0.48.

Tyson Foods (NYSE:TSN) last issued its quarterly earnings data on Monday, February 2nd. The company reported $0.97 EPS for the quarter, missing the consensus estimate of $1.01 by ($0.04). Tyson Foods had a return on equity of 7.67% and a net margin of 0.36%.The company had revenue of $14.31 billion during the quarter, compared to analysts’ expectations of $14.11 billion. During the same quarter last year, the business earned $1.14 earnings per share. The business’s quarterly revenue was up 5.1% on a year-over-year basis. On average, sell-side analysts expect that Tyson Foods, Inc. will post 3.8 earnings per share for the current year.

Tyson Foods Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Monday, June 1st will be paid a $0.51 dividend. This represents a $2.04 annualized dividend and a yield of 3.1%. The ex-dividend date of this dividend is Monday, June 1st. Tyson Foods’s dividend payout ratio is presently 364.29%.

Analyst Ratings Changes

TSN has been the subject of a number of recent research reports. BMO Capital Markets boosted their target price on Tyson Foods from $67.00 to $73.00 and gave the company an “outperform” rating in a research note on Tuesday. Sanford C. Bernstein reiterated a “market perform” rating and issued a $69.00 price objective on shares of Tyson Foods in a research report on Tuesday. Weiss Ratings restated a “hold (c-)” rating on shares of Tyson Foods in a report on Monday, December 29th. Barclays lifted their target price on shares of Tyson Foods from $75.00 to $78.00 and gave the stock an “overweight” rating in a research note on Tuesday. Finally, Zacks Research raised shares of Tyson Foods from a “strong sell” rating to a “hold” rating in a research report on Thursday, October 30th. Three equities research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company. Based on data from MarketBeat.com, Tyson Foods has a consensus rating of “Hold” and an average price target of $64.27.

Tyson Foods Company 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.