Employees Retirement System of Texas Trims Position in Tyson Foods, Inc. (TSN)
Employees Retirement System of Texas decreased its position in shares of Tyson Foods, Inc. (NYSE:TSN) by 2.0% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 182,300 shares of the company’s stock after selling 3,700 shares during the period. Employees Retirement System of Texas’ holdings in Tyson Foods were worth $11,417,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Washington Trust Bank boosted its position in Tyson Foods by 60.0% during the second quarter. Washington Trust Bank now owns 2,240 shares of the company’s stock valued at $140,000 after purchasing an additional 840 shares during the last quarter. Independent Portfolio Consultants Inc. boosted its position in Tyson Foods by 146.7% during the second quarter. Independent Portfolio Consultants Inc. now owns 2,282 shares of the company’s stock valued at $143,000 after purchasing an additional 1,357 shares during the last quarter. IFP Advisors Inc boosted its position in Tyson Foods by 17.0% during the second quarter. IFP Advisors Inc now owns 2,470 shares of the company’s stock valued at $155,000 after purchasing an additional 359 shares during the last quarter. IHT Wealth Management LLC boosted its position in Tyson Foods by 62.9% during the first quarter. IHT Wealth Management LLC now owns 2,850 shares of the company’s stock valued at $177,000 after purchasing an additional 1,100 shares during the last quarter. Finally, Harbour Capital Advisors LLC acquired a new stake in Tyson Foods during the first quarter valued at $196,000. 70.83% of the stock is owned by hedge funds and other institutional investors.
Tyson Foods, Inc. (TSN) traded up 7.64% during trading on Friday, hitting $70.45. The stock had a trading volume of 6,400,952 shares. The stock has a 50 day moving average price of $64.80 and a 200 day moving average price of $62.35. The company has a market capitalization of $25.85 billion, a price-to-earnings ratio of 14.85 and a beta of 0.26. Tyson Foods, Inc. has a 12-month low of $55.72 and a 12-month high of $76.93.
Tyson Foods (NYSE:TSN) last released its earnings results on Monday, August 7th. The company reported $1.28 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.18 by $0.10. The firm had revenue of $9.85 billion for the quarter, compared to analysts’ expectations of $9.49 billion. Tyson Foods had a net margin of 4.75% and a return on equity of 18.44%. The company’s quarterly revenue was up 4.8% on a year-over-year basis. During the same period in the previous year, the company earned $1.21 earnings per share. Equities research analysts forecast that Tyson Foods, Inc. will post $5.06 earnings per share for the current year.
The firm 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 $0.225 dividend. This represents a $0.90 annualized dividend and a dividend yield of 1.28%. The ex-dividend date is Thursday, November 30th. Tyson Foods’s dividend payout ratio (DPR) is currently 18.95%.
TSN has been the subject of a number of research reports. BidaskClub cut Tyson Foods from a “buy” rating to a “hold” rating in a research report on Saturday, August 26th. Barclays PLC started coverage on Tyson Foods in a research report on Tuesday, June 6th. They set an “overweight” rating and a $70.00 price objective for the company. Credit Suisse Group started coverage on Tyson Foods in a report on Wednesday, July 19th. They set a “neutral” rating and a $65.00 target price on the stock. Jefferies Group LLC restated a “buy” rating and set a $75.00 target price on shares of Tyson Foods in a report on Thursday, July 27th. Finally, Royal Bank Of Canada raised their target price on Tyson Foods from $68.00 to $70.00 and gave the company a “sector perform” rating in a report on Tuesday, August 8th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $70.21.
In other Tyson Foods news, Director Mikel A. Durham purchased 2,809 shares of the stock in a transaction dated Monday, August 14th. The shares were bought at an average price of $65.77 per share, with a total value of $184,747.93. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Dennis Leatherby sold 145,100 shares of the business’s stock in a transaction that occurred on Monday, August 14th. The shares were sold at an average price of $65.97, for a total transaction of $9,572,247.00. The disclosure for this sale can be found here. Insiders own 2.65% of the company’s stock.
Tyson Foods Profile
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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