Bank of New York Mellon Corp Sells 166,089 Shares of Tyson Foods, Inc. (NYSE:TSN)

Bank of New York Mellon Corp reduced its position in shares of Tyson Foods, Inc. (NYSE:TSN – Get Rating) by 6.8% in the third quarter, Holdings Channel reports. The firm owned 2,282,432 shares of the company’s stock after selling 166,089 shares during the period. Bank of New York Mellon Corp’s holdings in Tyson Foods were worth $150,481,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in TSN. Vanguard Group Inc. grew its position in shares of Tyson Foods by 6.4% during the 1st quarter. Vanguard Group Inc. now owns 37,179,555 shares of the company’s stock valued at $3,332,404,000 after purchasing an additional 2,239,235 shares in the last quarter. AQR Capital Management LLC grew its position in shares of Tyson Foods by 87.7% during the 2nd quarter. AQR Capital Management LLC now owns 3,246,414 shares of the company’s stock valued at $278,445,000 after purchasing an additional 1,517,165 shares in the last quarter. Invesco Ltd. grew its position in shares of Tyson Foods by 33.3% during the 1st quarter. Invesco Ltd. now owns 3,653,878 shares of the company’s stock valued at $327,497,000 after purchasing an additional 912,421 shares in the last quarter. Marshall Wace LLP grew its position in shares of Tyson Foods by 9,361.1% during the 3rd quarter. Marshall Wace LLP now owns 816,585 shares of the company’s stock valued at $53,837,000 after purchasing an additional 807,954 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its position in shares of Tyson Foods by 56.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,572,844 shares of the company’s stock valued at $140,974,000 after purchasing an additional 566,512 shares in the last quarter. 66.64% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

TSN has been the subject of a number of recent analyst reports. Credit Suisse Group reduced their price target on shares of Tyson Foods from $75.00 to $58.00 and set a “neutral” rating for the company in a research report on Tuesday, February 7th. Barclays lowered shares of Tyson Foods from an “equal weight” rating to an “underweight” rating and cut their target price for the stock from $89.00 to $58.00 in a research report on Monday, November 28th. Sanford C. Bernstein cut their target price on shares of Tyson Foods to $76.00 in a research report on Monday, December 12th. Bank of America cut their target price on shares of Tyson Foods from $62.00 to $56.00 and set an “underperform” rating for the company in a research report on Tuesday, February 7th. Finally, Piper Sandler cut their target price on shares of Tyson Foods from $68.00 to $65.00 and set a “neutral” rating for the company in a research report on Wednesday, February 1st. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $68.00.

Tyson Foods Stock Performance

Tyson Foods stock opened at $58.54 on Friday. The company has a market capitalization of $20.82 billion, a PE ratio of 8.70 and a beta of 0.75. The firm has a fifty day simple moving average of $61.90 and a two-hundred day simple moving average of $65.03. The company has a quick ratio of 0.66, a current ratio of 1.75 and a debt-to-equity ratio of 0.40. Tyson Foods, Inc. has a twelve month low of $56.07 and a twelve month high of $99.54.

Tyson Foods (NYSE:TSN – Get Rating) last issued its quarterly earnings data on Monday, February 6th. The company reported $0.85 EPS for the quarter, missing the consensus estimate of $1.35 by ($0.50). The firm had revenue of $13.26 billion for the quarter, compared to the consensus estimate of $13.51 billion. Tyson Foods had a net margin of 4.54% and a return on equity of 12.41%. The business’s revenue was up 2.5% on a year-over-year basis. During the same period last year, the company posted $2.87 earnings per share. Research analysts expect that Tyson Foods, Inc. will post 4.15 EPS for the current year.

Tyson Foods Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 15th. Stockholders of record on Thursday, June 1st will be paid a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a dividend yield of 3.28%. The ex-dividend date is Wednesday, May 31st. Tyson Foods’s dividend payout ratio (DPR) is 28.53%.

About Tyson Foods

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Tyson Foods, Inc engages in the production of frozen and refrigerated food products. It operates through the following segments: Beef, Pork, Chicken, and Prepared Foods. The Beef segment includes processing live fed cattle and fabricating dressed beef carcasses into primal and sub-primal meat cuts and case-ready products.