Bank of New York Mellon Corp Lowers Stake in Tyson Foods, Inc. $TSN

Bank of New York Mellon Corp trimmed its position in Tyson Foods, Inc. (NYSE:TSN) by 6.4% during the first quarter, HoldingsChannel.com reports. The firm owned 1,586,065 shares of the company’s stock after selling 108,126 shares during the quarter. Bank of New York Mellon Corp’s holdings in Tyson Foods were worth $101,619,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Pzena Investment Management LLC increased its position in Tyson Foods by 12.1% during the 1st quarter. Pzena Investment Management LLC now owns 17,155,713 shares of the company’s stock worth $1,099,167,000 after purchasing an additional 1,845,200 shares in the last quarter. State Street Corp grew its stake in Tyson Foods by 0.6% during the third quarter. State Street Corp now owns 14,075,676 shares of the company’s stock worth $764,309,000 after buying an additional 85,282 shares during the period. Davis Selected Advisers grew its stake in Tyson Foods by 28.8% during the fourth quarter. Davis Selected Advisers now owns 12,827,540 shares of the company’s stock worth $751,951,000 after buying an additional 2,865,413 shares during the period. AQR Capital Management LLC increased its position in shares of Tyson Foods by 20.6% in the fourth quarter. AQR Capital Management LLC now owns 8,114,441 shares of the company’s stock worth $475,669,000 after acquiring an additional 1,387,645 shares in the last quarter. Finally, Invesco Ltd. raised its stake in shares of Tyson Foods by 1.4% in the 4th quarter. Invesco Ltd. now owns 6,055,876 shares of the company’s stock valued at $354,995,000 after acquiring an additional 83,861 shares during the period. 67.00% of the stock is owned by institutional investors and hedge funds.

Tyson Foods Stock Performance

Tyson Foods stock opened at $58.08 on Tuesday. Tyson Foods, Inc. has a 12-month low of $50.56 and a 12-month high of $69.48. The company has a market capitalization of $20.45 billion, a price-to-earnings ratio of 45.73, a price-to-earnings-growth ratio of 1.19 and a beta of 0.40. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.83 and a quick ratio of 0.70. The firm’s fifty day moving average price is $59.81 and its 200 day moving average price is $61.80.

Tyson Foods (NYSE:TSN) last posted its quarterly earnings data 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 during the quarter, compared to analysts’ expectations of $13.63 billion. Tyson Foods had a net margin of 0.81% and a return on equity of 7.59%. The firm’s revenue for the quarter was up 4.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.92 EPS. On average, research analysts forecast that Tyson Foods, Inc. will post 4.12 EPS for the current fiscal year.

Tyson Foods Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st will be issued a $0.51 dividend. 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 currently 160.63%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on TSN. Piper Sandler reaffirmed an “overweight” rating and set a $78.00 price target (down from $80.00) on shares of Tyson Foods in a research report on Thursday, June 18th. Stephens boosted their price objective on Tyson Foods from $65.00 to $70.00 and gave the stock an “equal weight” rating in a research note on Tuesday, May 5th. Wall Street Zen downgraded Tyson Foods from a “buy” rating to a “hold” rating in a research report on Saturday, June 20th. Sanford C. Bernstein lowered their target price on Tyson Foods from $72.00 to $63.00 and set a “market perform” rating for the company in a research note on Thursday, July 2nd. Finally, JPMorgan Chase & Co. dropped their target price on Tyson Foods from $71.00 to $65.00 and set a “neutral” rating on the stock in a report on Tuesday, July 14th. Four equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $69.56.

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.