48,772 Shares in Tyson Foods, Inc. $TSN Bought by Econ Financial Services Corp

Econ Financial Services Corp purchased a new position in Tyson Foods, Inc. (NYSE:TSN) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 48,772 shares of the company’s stock, valued at approximately $3,125,000. Tyson Foods accounts for approximately 1.5% of Econ Financial Services Corp’s investment portfolio, making the stock its 27th biggest position.

Several other hedge funds and other institutional investors have also recently bought and sold shares of TSN. Maridea Wealth Management LLC acquired a new stake in shares of Tyson Foods in the 1st quarter valued at about $301,000. Generali Investments Towarzystwo Funduszy Inwestycyjnych increased its position in Tyson Foods by 10.0% in the 1st quarter. Generali Investments Towarzystwo Funduszy Inwestycyjnych now owns 3,300 shares of the company’s stock valued at $211,000 after buying an additional 300 shares in the last quarter. Louisiana State Employees Retirement System acquired a new position in Tyson Foods during the 1st quarter worth approximately $923,000. OP Asset Management Ltd acquired a new position in Tyson Foods during the 1st quarter worth approximately $1,836,000. Finally, Assenagon Asset Management S.A. grew its stake in Tyson Foods by 85.7% in the first quarter. Assenagon Asset Management S.A. now owns 892,807 shares of the company’s stock valued at $57,202,000 after acquiring an additional 412,100 shares during the period. 67.00% of the stock is owned by institutional investors.

Tyson Foods Stock Performance

Shares of TSN opened at $58.54 on Friday. The firm has a market capitalization of $20.61 billion, a P/E ratio of 46.09, a P/E/G ratio of 1.17 and a beta of 0.38. Tyson Foods, Inc. has a 52 week low of $50.56 and a 52 week high of $69.48. The stock has a 50 day moving average price of $62.13 and a two-hundred day moving average price of $61.79. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.70 and a current ratio of 1.83.

Tyson Foods (NYSE:TSN) last posted its earnings results on Monday, May 4th. The company reported $0.87 earnings per share for the quarter, beating analysts’ consensus estimates of $0.76 by $0.11. The company had revenue of $13.65 billion for the quarter, compared to analyst estimates of $13.63 billion. Tyson Foods had a return on equity of 7.59% and a net margin of 0.81%.The company’s revenue for the quarter was up 4.4% on a year-over-year basis. During the same quarter last year, the company earned $0.92 earnings per share. Equities analysts forecast that Tyson Foods, Inc. will post 4.16 earnings per share for the current fiscal year.

Tyson Foods Dividend Announcement

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

Analyst Ratings Changes

Several equities research analysts have recently commented on TSN shares. BMO Capital Markets restated an “outperform” rating on shares of Tyson Foods in a report on Tuesday, May 5th. Wall Street Zen cut Tyson Foods from a “buy” rating to a “hold” rating in a report on Saturday, June 20th. Mizuho assumed coverage on shares of Tyson Foods in a research report on Thursday, March 26th. They issued an “outperform” rating and a $72.00 price target for the company. Piper Sandler restated an “overweight” rating and set a $78.00 price target (down from $80.00) on shares of Tyson Foods in a research note on Thursday, June 18th. Finally, Weiss Ratings upgraded shares of Tyson Foods from a “hold (c)” rating to a “hold (c+)” rating in a report on Tuesday. Four investment analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Tyson Foods currently has an average rating of “Hold” and an average price target of $68.20.

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.