Assenagon Asset Management S.A. Purchases 412,100 Shares of Tyson Foods, Inc. $TSN

Assenagon Asset Management S.A. raised its position in Tyson Foods, Inc. (NYSE:TSN) by 85.7% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 892,807 shares of the company’s stock after buying an additional 412,100 shares during the period. Assenagon Asset Management S.A.’s holdings in Tyson Foods were worth $57,202,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently modified their holdings of the company. IFP Advisors Inc raised its position in Tyson Foods by 10.3% in the fourth quarter. IFP Advisors Inc now owns 1,679 shares of the company’s stock worth $98,000 after acquiring an additional 157 shares during the period. IFM Investors Pty Ltd grew its position in shares of Tyson Foods by 0.4% during the 4th quarter. IFM Investors Pty Ltd now owns 40,527 shares of the company’s stock valued at $2,376,000 after acquiring an additional 159 shares during the period. Deseret Mutual Benefit Administrators increased its stake in shares of Tyson Foods by 4.4% during the 4th quarter. Deseret Mutual Benefit Administrators now owns 3,942 shares of the company’s stock worth $231,000 after purchasing an additional 166 shares during the last quarter. CIBC Private Wealth Group LLC increased its stake in shares of Tyson Foods by 10.6% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 1,862 shares of the company’s stock worth $101,000 after purchasing an additional 179 shares during the last quarter. Finally, Matrix Trust Co raised its holdings in shares of Tyson Foods by 28.8% in the 4th quarter. Matrix Trust Co now owns 818 shares of the company’s stock worth $48,000 after purchasing an additional 183 shares during the period. Institutional investors own 67.00% of the company’s stock.

Analyst Ratings Changes

TSN has been the subject of several research reports. Mizuho began coverage on Tyson Foods in a report on Thursday, March 26th. They set an “outperform” rating and a $72.00 price objective for the company. Stephens boosted their target price on Tyson Foods from $65.00 to $70.00 and gave the company an “equal weight” rating in a research note on Tuesday, May 5th. Wall Street Zen cut Tyson Foods from a “buy” rating to a “hold” rating in a research report on Saturday, June 20th. BMO Capital Markets reiterated an “outperform” rating on shares of Tyson Foods in a research note on Tuesday, May 5th. Finally, Piper Sandler reissued an “overweight” rating and issued a $78.00 price objective (down from $80.00) on shares of Tyson Foods in a report on Thursday, June 18th. Four research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $68.20.

Tyson Foods Trading Down 0.3%

Shares of TSN stock opened at $57.63 on Friday. The company’s fifty day simple moving average is $62.23 and its two-hundred day simple moving average is $61.82. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.83 and a quick ratio of 0.70. Tyson Foods, Inc. has a 1 year low of $50.56 and a 1 year high of $69.48. The stock has a market capitalization of $20.29 billion, a price-to-earnings ratio of 45.38, a PEG ratio of 1.17 and a beta of 0.38.

Tyson Foods (NYSE:TSN) last posted its earnings results on Monday, May 4th. The company reported $0.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.76 by $0.11. Tyson Foods had a return on equity of 7.59% and a net margin of 0.81%.The firm had revenue of $13.65 billion for the quarter, compared to the consensus estimate of $13.63 billion. During the same quarter in the prior year, the business posted $0.92 earnings per share. The business’s quarterly revenue was up 4.4% on a year-over-year basis. As a group, analysts anticipate that Tyson Foods, Inc. will post 4.16 earnings per share for the current year.

Tyson Foods Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st will be issued a dividend of $0.51 per share. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $2.04 dividend on an annualized basis and a yield of 3.5%. Tyson Foods’s dividend payout ratio is 160.63%.

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.