Brandywine Global Investment Management LLC Trims Position in Tyson Foods, Inc. (TSN)
Brandywine Global Investment Management LLC cut its stake in Tyson Foods, Inc. (NYSE:TSN) by 0.2% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 130,661 shares of the company’s stock after selling 312 shares during the period. Brandywine Global Investment Management LLC’s holdings in Tyson Foods were worth $8,184,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently made changes to their positions in TSN. Financial Counselors Inc. increased its position in shares of Tyson Foods by 0.3% during the second quarter. Financial Counselors Inc. now owns 4,799 shares of the company’s stock worth $301,000 after purchasing an additional 15 shares in the last quarter. CrestPoint Capital Management LLC boosted its position in shares of Tyson Foods by 0.5% in the 2nd quarter. CrestPoint Capital Management LLC now owns 21,100 shares of the company’s stock valued at $1,321,000 after purchasing an additional 100 shares during the period. Oppenheimer & Co. Inc. grew its stake in Tyson Foods by 0.5% during the 1st quarter. Oppenheimer & Co. Inc. now owns 30,905 shares of the company’s stock worth $1,907,000 after buying an additional 146 shares during the last quarter. Montecito Bank & Trust grew its stake in Tyson Foods by 3.7% during the 2nd quarter. Montecito Bank & Trust now owns 4,160 shares of the company’s stock worth $260,000 after buying an additional 147 shares during the last quarter. Finally, Lumbard & Kellner LLC grew its stake in Tyson Foods by 0.4% during the 2nd quarter. Lumbard & Kellner LLC now owns 39,875 shares of the company’s stock worth $2,497,000 after buying an additional 150 shares during the last quarter. 71.89% of the stock is owned by hedge funds and other institutional investors.
In other news, CFO Dennis Leatherby sold 145,100 shares of the company’s stock in a transaction on Monday, August 14th. The stock was sold at an average price of $65.97, for a total value of $9,572,247.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Mikel A. Durham acquired 2,809 shares of the business’s stock in a transaction dated Monday, August 14th. The stock was purchased at an average price of $65.77 per share, with a total value of $184,747.93. The disclosure for this purchase can be found here. 2.65% of the stock is currently owned by company insiders.
Shares of Tyson Foods, Inc. (NYSE TSN) opened at 70.99 on Tuesday. The firm has a market capitalization of $26.05 billion, a P/E ratio of 14.97 and a beta of 0.27. The stock’s 50 day moving average is $65.40 and its 200-day moving average is $62.62. Tyson Foods, Inc. has a 52-week low of $55.72 and a 52-week high of $75.33.
Tyson Foods (NYSE:TSN) last released its earnings results on Monday, August 7th. The company reported $1.28 earnings per share for the quarter, topping analysts’ consensus estimates of $1.18 by $0.10. The firm had revenue of $9.85 billion during the quarter, compared to the consensus estimate of $9.49 billion. Tyson Foods had a return on equity of 18.44% and a net margin of 4.75%. The firm’s revenue for the quarter was up 4.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.21 earnings per share. On average, equities analysts forecast that Tyson Foods, Inc. will post $5.11 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Friday, December 1st will be given a dividend of $0.225 per share. This represents a $0.90 annualized dividend and a dividend yield of 1.27%. The ex-dividend date of this dividend is Thursday, November 30th. Tyson Foods’s dividend payout ratio (DPR) is presently 18.95%.
A number of brokerages have weighed in on TSN. BidaskClub upgraded Tyson Foods from a “hold” rating to a “buy” rating in a research note on Friday, June 16th. BMO Capital Markets reaffirmed a “buy” rating and issued a $75.00 target price on shares of Tyson Foods in a report on Thursday, June 15th. Vertical Research raised shares of Tyson Foods from a “hold” rating to a “buy” rating in a report on Tuesday, June 13th. Mizuho assumed coverage on shares of Tyson Foods in a research report on Wednesday, June 7th. They issued a “buy” rating and a $71.00 price target for the company. Finally, Zacks Investment Research upgraded shares of Tyson Foods from a “hold” rating to a “buy” rating and set a $66.00 price target for the company in a research note on Thursday, July 13th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. Tyson Foods presently has a consensus rating of “Buy” and an average price target of $71.63.
About Tyson Foods
Tyson Foods, Inc is a food company, which is engaged in offering chicken, beef and pork, as well as prepared foods. The Company offers food products under Tyson, Jimmy Dean, Hillshire Farm, Sara Lee, Ball Park, Wright, Aidells and State Fair brands. The Company operates through four segments: Chicken, Beef, Pork and Prepared Foods.
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