QRG Capital Management Inc. Reduces Stake in Tyson Foods, Inc. $TSN

QRG Capital Management Inc. reduced its stake in shares of Tyson Foods, Inc. (NYSE:TSN) by 12.4% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 97,414 shares of the company’s stock after selling 13,783 shares during the quarter. QRG Capital Management Inc.’s holdings in Tyson Foods were worth $5,290,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the stock. State of Alaska Department of Revenue lifted its holdings in shares of Tyson Foods by 70.5% in 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. raised its holdings 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 valued at $18,604,000 after acquiring an additional 132,947 shares in the last quarter. Thrivent Financial for Lutherans lifted its stake in 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 during the period. Y Intercept Hong Kong Ltd grew its holdings in Tyson Foods by 128.9% during the 2nd 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 in the last quarter. Finally, Liberty One Investment Management LLC increased its position in Tyson Foods by 32.1% during the 3rd quarter. Liberty One Investment Management LLC now owns 113,798 shares of the company’s stock valued at $6,179,000 after purchasing an additional 27,627 shares during the period. 67.00% of the stock is owned by institutional investors.

Tyson Foods Stock Down 0.6%

Tyson Foods stock opened at $60.08 on Monday. Tyson Foods, Inc. has a 1-year low of $50.56 and a 1-year high of $64.36. The business has a fifty day moving average price of $57.27 and a 200-day moving average price of $55.39. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.55 and a quick ratio of 0.66. The stock has a market capitalization of $21.21 billion, a price-to-earnings ratio of 45.18, a PEG ratio of 1.38 and a beta of 0.48.

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

Tyson Foods Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 13th. Investors of record on Friday, February 27th will be paid a $0.51 dividend. This is a boost from Tyson Foods’s previous quarterly dividend of $0.50. The ex-dividend date is Friday, February 27th. This represents a $2.04 dividend on an annualized basis and a yield of 3.4%. Tyson Foods’s dividend payout ratio (DPR) is 153.38%.

Insider Activity at Tyson Foods

In other news, CFO Curt Calaway sold 6,539 shares of the business’s stock in a transaction on Tuesday, November 25th. The shares were sold at an average price of $57.19, for a total transaction of $373,965.41. Following the sale, the chief financial officer directly owned 31,833 shares of the company’s stock, valued at $1,820,529.27. The trade was a 17.04% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman John H. Tyson sold 100,301 shares of the firm’s stock in a transaction on Friday, November 28th. The stock was 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 owned 2,989,415 shares of the company’s stock, valued at $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 insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. Piper Sandler upped their price target on shares of Tyson Foods from $58.00 to $61.00 and gave the stock a “neutral” rating in a research report on Friday, December 12th. BMO Capital Markets set a $67.00 target price on Tyson Foods and gave the stock an “outperform” rating in a report on Thursday, January 8th. Zacks Research upgraded Tyson Foods from a “strong sell” rating to a “hold” rating in a report on Thursday, October 30th. Weiss Ratings reissued a “hold (c-)” rating on shares of Tyson Foods in a research report on Monday, December 29th. Finally, Bank of America dropped their price objective on Tyson Foods from $59.00 to $58.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 8th. Three analysts have rated the stock with a Buy rating and thirteen have assigned a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $61.91.

About Tyson Foods

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.