DnB Asset Management AS grew its stake in Tyson Foods, Inc. (NYSE:TSN – Get Rating) by 16.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 53,164 shares of the company’s stock after buying an additional 7,578 shares during the period. DnB Asset Management AS’s holdings in Tyson Foods were worth $4,575,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Legacy Private Trust Co. raised its holdings in shares of Tyson Foods by 23.6% in the second quarter. Legacy Private Trust Co. now owns 32,394 shares of the company’s stock worth $2,788,000 after buying an additional 6,180 shares during the last quarter. Moody National Bank Trust Division purchased a new position in shares of Tyson Foods in the second quarter worth $313,000. Vigilant Capital Management LLC raised its holdings in shares of Tyson Foods by 30.6% in the second quarter. Vigilant Capital Management LLC now owns 2,135 shares of the company’s stock worth $184,000 after buying an additional 500 shares during the last quarter. Capital Investment Advisors LLC raised its holdings in shares of Tyson Foods by 10.1% during the second quarter. Capital Investment Advisors LLC now owns 175,188 shares of the company’s stock worth $15,077,000 after purchasing an additional 16,054 shares during the last quarter. Finally, J.W. Cole Advisors Inc. raised its holdings in shares of Tyson Foods by 5.3% during the first quarter. J.W. Cole Advisors Inc. now owns 4,821 shares of the company’s stock worth $432,000 after purchasing an additional 241 shares during the last quarter. Hedge funds and other institutional investors own 68.55% of the company’s stock.
Analysts Set New Price Targets
Several research analysts recently issued reports on the stock. Stephens reduced their target price on shares of Tyson Foods from $100.00 to $95.00 and set an “overweight” rating for the company in a report on Tuesday, August 9th. Barclays reduced their target price on shares of Tyson Foods from $100.00 to $89.00 and set an “equal weight” rating for the company in a report on Tuesday, August 9th. Argus cut shares of Tyson Foods from a “buy” rating to a “hold” rating in a report on Tuesday, September 13th. Sanford C. Bernstein reduced their target price on shares of Tyson Foods to $101.00 in a report on Monday, August 15th. Finally, Piper Sandler upgraded shares of Tyson Foods from an “underweight” rating to a “neutral” rating and set a $79.00 price target on the stock in a research report on Tuesday, August 9th. They noted that the move was a valuation call. Eight investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $93.13.
Tyson Foods Stock Up 0.6 %
Tyson Foods (NYSE:TSN – Get Rating) last announced its earnings results on Monday, August 8th. The company reported $1.94 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.97 by ($0.03). Tyson Foods had a net margin of 7.75% and a return on equity of 18.42%. The company had revenue of $13.50 billion during the quarter, compared to analyst estimates of $13.25 billion. During the same quarter last year, the business earned $2.70 EPS. The firm’s revenue for the quarter was up 8.2% compared to the same quarter last year. On average, research analysts forecast that Tyson Foods, Inc. will post 8.85 EPS for the current year.
Tyson Foods Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Thursday, December 15th. Stockholders of record on Thursday, December 1st will be given a $0.46 dividend. The ex-dividend date of this dividend is Wednesday, November 30th. This represents a $1.84 annualized dividend and a dividend yield of 2.54%. Tyson Foods’s dividend payout ratio (DPR) is 16.53%.
About Tyson Foods
Tyson Foods, Inc, together with its subsidiaries, operates as a food company worldwide. It operates through four segments: Beef, Pork, Chicken, and Prepared Foods. The company processes live fed cattle and live market hogs; fabricates dressed beef and pork carcasses into primal and sub-primal meat cuts, as well as case ready beef and pork, and fully cooked meats; raises and processes chickens into fresh, frozen, and value-added chicken products; and supplies poultry breeding stock; sells specialty products, such as hides and meats.
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