Summit Global Investments Lowers Stake in Tyson Foods, Inc. $TSN

Summit Global Investments lessened its stake in Tyson Foods, Inc. (NYSE:TSN) by 46.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 130,768 shares of the company’s stock after selling 115,156 shares during the period. Summit Global Investments’ holdings in Tyson Foods were worth $7,101,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in TSN. Vanguard Group Inc. boosted its holdings in shares of Tyson Foods by 1.5% in the second quarter. Vanguard Group Inc. now owns 36,504,921 shares of the company’s stock valued at $2,042,085,000 after purchasing an additional 543,513 shares during the period. State Street Corp increased its stake in shares of Tyson Foods by 3.2% during the second quarter. State Street Corp now owns 13,990,394 shares of the company’s stock valued at $782,623,000 after buying an additional 439,623 shares during the period. Pzena Investment Management LLC lifted its stake in Tyson Foods by 3.4% in the second quarter. Pzena Investment Management LLC now owns 13,708,700 shares of the company’s stock worth $766,865,000 after acquiring an additional 444,648 shares during the period. Davis Selected Advisers increased its position in Tyson Foods by 91.4% during the 2nd quarter. Davis Selected Advisers now owns 8,956,466 shares of the company’s stock valued at $501,025,000 after purchasing an additional 4,276,884 shares during the period. Finally, Geode Capital Management LLC raised its holdings in shares of Tyson Foods by 1.7% in the 2nd quarter. Geode Capital Management LLC now owns 7,388,306 shares of the company’s stock valued at $411,571,000 after purchasing an additional 122,055 shares in the last quarter. 67.00% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

TSN has been the subject of a number of recent research reports. BMO Capital Markets set a $67.00 price objective on shares of Tyson Foods and gave the stock an “outperform” rating in a research note on Thursday, January 8th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Tyson Foods in a report on Monday, December 29th. Piper Sandler lifted their price objective on shares of Tyson Foods from $58.00 to $61.00 and gave the stock a “neutral” rating in a research report on Friday, December 12th. Bank of America lowered their target price on shares of Tyson Foods from $59.00 to $58.00 and set a “neutral” rating for the company in a research note on Wednesday, October 8th. Finally, Zacks Research upgraded Tyson Foods from a “strong sell” rating to a “hold” rating in a report on Thursday, October 30th. Two equities research analysts have rated the stock with a Buy rating and thirteen have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $60.60.

Insider Activity at Tyson Foods

In other Tyson Foods news, CFO Curt Calaway sold 6,539 shares of the business’s stock in a transaction that occurred on Tuesday, November 25th. The stock was sold at an average price of $57.19, for a total value of $373,965.41. Following the completion of the transaction, the chief financial officer directly owned 31,833 shares of the company’s stock, valued at approximately $1,820,529.27. The trade was a 17.04% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Chairman John H. Tyson sold 100,301 shares of the firm’s stock in a transaction that occurred on Friday, November 28th. The stock was sold at an average price of $58.05, for a total transaction of $5,822,473.05. Following the sale, the chairman directly owned 2,989,415 shares in the company, valued at $173,535,540.75. The trade was a 3.25% decrease in their position. The SEC filing for this sale provides additional information. 2.11% of the stock is currently owned by company insiders.

Tyson Foods Stock Up 0.9%

Tyson Foods stock opened at $65.21 on Friday. Tyson Foods, Inc. has a fifty-two week low of $50.56 and a fifty-two week high of $65.96. The company has a market cap of $23.02 billion, a PE ratio of 49.03, a PEG ratio of 1.45 and a beta of 0.48. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.66 and a current ratio of 1.55. The business’s 50-day simple moving average is $58.84 and its two-hundred day simple moving average is $55.82.

Tyson Foods (NYSE:TSN) last issued its earnings results on Monday, November 10th. The company reported $1.15 EPS for the quarter, beating analysts’ consensus estimates of $0.85 by $0.30. The firm had revenue of $13.86 billion for the quarter, compared to analyst estimates of $14.08 billion. Tyson Foods had a return on equity of 7.95% and a net margin of 0.87%.Tyson Foods’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.92 earnings per share. Equities analysts anticipate that Tyson Foods, Inc. will post 3.8 EPS for the current year.

Tyson Foods Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 13th. Investors of record on Friday, February 27th will be issued a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a yield of 3.1%. This is a positive change from Tyson Foods’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend is Friday, February 27th. Tyson Foods’s dividend payout ratio is 153.38%.

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.