Cornercap Investment Counsel Inc. Acquires 16,888 Shares of Tyson Foods, Inc. $TSN

Cornercap Investment Counsel Inc. grew its holdings in Tyson Foods, Inc. (NYSE:TSN) by 140.0% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 28,950 shares of the company’s stock after purchasing an additional 16,888 shares during the quarter. Cornercap Investment Counsel Inc.’s holdings in Tyson Foods were worth $1,572,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Harbor Capital Advisors Inc. lifted its position in Tyson Foods by 93.1% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 473 shares of the company’s stock worth $26,000 after buying an additional 228 shares in the last quarter. NewSquare Capital LLC raised its stake in shares of 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 acquiring an additional 326 shares during the last quarter. Matrix Trust Co raised its stake in shares of Tyson Foods by 28,200.0% in the second quarter. Matrix Trust Co now owns 566 shares of the company’s stock worth $32,000 after acquiring an additional 564 shares during the last quarter. First Command Advisory Services Inc. lifted its position in shares of Tyson Foods by 389.8% during the second quarter. First Command Advisory Services Inc. now owns 578 shares of the company’s stock worth $32,000 after purchasing an additional 460 shares in the last quarter. Finally, MTM Investment Management LLC bought a new stake in shares of Tyson Foods during the second quarter valued at approximately $36,000. 67.00% of the stock is currently owned by institutional investors and hedge funds.

Tyson Foods Stock Performance

Shares of Tyson Foods stock opened at $58.18 on Thursday. The stock’s fifty day simple moving average is $55.05 and its 200 day simple moving average is $55.01. The company has a current ratio of 1.55, a quick ratio of 0.66 and a debt-to-equity ratio of 0.43. The company has a market capitalization of $20.54 billion, a PE ratio of 43.74, a PEG ratio of 1.33 and a beta of 0.47. Tyson Foods, Inc. has a 12 month low of $50.56 and a 12 month high of $64.36.

Tyson Foods (NYSE:TSN) last announced its quarterly earnings results on Monday, November 10th. The company reported $1.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.85 by $0.30. Tyson Foods had a return on equity of 7.95% and a net margin of 0.87%.The company had revenue of $13.86 billion during the quarter, compared to the consensus estimate of $14.08 billion. During the same period in the prior year, the company earned $0.92 earnings per share. The company’s revenue for the quarter was up 2.2% compared to the same quarter last year. On average, research analysts predict that Tyson Foods, Inc. will post 3.8 EPS for the current year.

Tyson Foods Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 13th. Investors of record on Friday, February 27th will be issued a dividend of $0.51 per share. The ex-dividend date is Friday, February 27th. This is a positive change from Tyson Foods’s previous quarterly dividend of $0.50. This represents a $2.04 dividend on an annualized basis and a dividend yield of 3.5%. Tyson Foods’s dividend payout ratio (DPR) is 153.38%.

Analyst Ratings Changes

TSN has been the subject of several research analyst reports. Weiss Ratings restated a “hold (c-)” rating on shares of Tyson Foods in a research report on Monday. Zacks Research upgraded Tyson Foods from a “strong sell” rating to a “hold” rating in a research report on Thursday, October 30th. Bank of America cut their price target on Tyson Foods from $59.00 to $58.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 8th. Piper Sandler lifted their price objective on Tyson Foods from $58.00 to $61.00 and gave the stock a “neutral” rating in a research report on Friday, December 12th. Finally, Santander began coverage on Tyson Foods in a report on Thursday, September 25th. They set a “neutral” rating for the company. Two equities research analysts have rated the stock with a Buy rating and fifteen have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $61.00.

Insider Buying and Selling at Tyson Foods

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

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.