Vinva Investment Management Ltd grew its position in Tyson Foods, Inc. (NYSE:TSN – Free Report) by 18.7% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 183,232 shares of the company’s stock after purchasing an additional 28,879 shares during the period. Vinva Investment Management Ltd owned approximately 0.05% of Tyson Foods worth $10,160,000 at the end of the most recent quarter.
Other hedge funds have also modified their holdings of the company. Davis Selected Advisers boosted 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 worth $501,025,000 after acquiring an additional 4,276,884 shares during the last quarter. AQR Capital Management LLC boosted its holdings in Tyson Foods by 776.8% during the first quarter. AQR Capital Management LLC now owns 2,842,627 shares of the company’s stock worth $180,933,000 after purchasing an additional 2,518,416 shares during the last quarter. Amundi increased its stake in Tyson Foods by 96.3% in the 1st quarter. Amundi now owns 1,556,812 shares of the company’s stock valued at $98,951,000 after buying an additional 763,887 shares during the last quarter. Nuveen LLC acquired a new position in shares of Tyson Foods during the 1st quarter worth about $41,582,000. Finally, Vanguard Group Inc. raised its holdings in Tyson Foods by 1.5% during the second quarter. Vanguard Group Inc. now owns 36,504,921 shares of the company’s stock worth $2,042,085,000 after acquiring an additional 543,513 shares in the last quarter. 67.00% of the stock is currently owned by institutional investors.
Tyson Foods Stock Performance
Shares of NYSE TSN opened at $57.98 on Thursday. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.73 and a quick ratio of 0.78. The firm has a market cap of $20.63 billion, a price-to-earnings ratio of 26.35, a P/E/G ratio of 0.85 and a beta of 0.56. The stock’s fifty day moving average price is $53.32 and its two-hundred day moving average price is $54.70. Tyson Foods, Inc. has a one year low of $50.56 and a one year high of $64.72.
Tyson Foods Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 13th. Shareholders of record on Friday, February 27th will be issued a $0.51 dividend. The ex-dividend date of this dividend is Friday, February 27th. This represents a $2.04 annualized dividend and a yield of 3.5%. This is a boost from Tyson Foods’s previous quarterly dividend of $0.50. Tyson Foods’s payout ratio is presently 153.38%.
Tyson Foods announced that its Board of Directors has authorized a share buyback program on Thursday, August 7th that permits the company to buyback 43,000,000 shares. This buyback authorization permits the company to reacquire shares of its stock through open market purchases. Shares buyback programs are generally an indication that the company’s management believes its stock is undervalued.
Analysts Set New Price Targets
A number of equities analysts recently weighed in on TSN shares. Weiss Ratings restated a “hold (c-)” rating on shares of Tyson Foods in a report on Monday. Zacks Research raised shares of Tyson Foods from a “strong sell” rating to a “hold” rating in a report on Thursday, October 30th. BMO Capital Markets lifted their price target on Tyson Foods from $53.00 to $56.00 and gave the stock a “market perform” rating in a report on Tuesday, November 11th. Bank of America dropped their price objective on Tyson Foods from $59.00 to $58.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 8th. Finally, JPMorgan Chase & Co. assumed coverage on Tyson Foods in a research note on Wednesday, August 20th. They set a “neutral” rating and a $60.00 target price for the company. Two analysts have rated the stock with a Buy rating and fifteen have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $60.75.
Get Our Latest Report on Tyson Foods
Insider Activity
In related news, CFO Curt Calaway sold 6,539 shares of the firm’s stock in a transaction 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 transaction, the chief financial officer owned 31,833 shares in the company, valued at approximately $1,820,529.27. This trade represents a 17.04% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 2.03% of the company’s stock.
Tyson Foods Company Profile
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 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, including breaded chicken strips, nuggets, patties, and other ready-to-fix or fully cooked chicken parts; and supplies poultry breeding stock.
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