Wedge Capital Management L L P NC Sells 89,188 Shares of Tyson Foods, Inc. (NYSE:TSN)
Wedge Capital Management L L P NC cut its stake in Tyson Foods, Inc. (NYSE:TSN) by 12.0% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 653,975 shares of the company’s stock after selling 89,188 shares during the period. Wedge Capital Management L L P NC’s holdings in Tyson Foods were worth $40,958,000 at the end of the most recent reporting period.
A number of other large investors have also recently modified their holdings of the company. National Pension Service boosted its stake in shares of Tyson Foods by 7.1% in the first quarter. National Pension Service now owns 265,039 shares of the company’s stock valued at $16,337,000 after buying an additional 17,455 shares during the last quarter. Koch Industries Inc. purchased a new stake in shares of Tyson Foods during the first quarter valued at $343,000. JPMorgan Chase & Co. boosted its stake in shares of Tyson Foods by 10.5% in the first quarter. JPMorgan Chase & Co. now owns 5,855,494 shares of the company’s stock valued at $361,341,000 after buying an additional 558,104 shares during the last quarter. APG Asset Management N.V. boosted its stake in shares of Tyson Foods by 10.3% in the second quarter. APG Asset Management N.V. now owns 3,784,280 shares of the company’s stock valued at $237,009,000 after buying an additional 352,000 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. purchased a new stake in shares of Tyson Foods during the first quarter valued at $4,097,000. 71.97% of the stock is currently owned by institutional investors.
Tyson Foods, Inc. (NYSE:TSN) opened at 65.55 on Friday. The stock’s 50 day moving average price is $62.32 and its 200-day moving average price is $62.16. The company has a market capitalization of $24.05 billion, a P/E ratio of 13.82 and a beta of 0.26. Tyson Foods, Inc. has a one year low of $55.72 and a one year high of $77.05.
Tyson Foods (NYSE:TSN) last announced its quarterly earnings results on Monday, August 7th. The company reported $1.28 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.18 by $0.10. Tyson Foods had a return on equity of 18.44% and a net margin of 4.75%. The business had revenue of $9.85 billion for the quarter, compared to the consensus estimate of $9.49 billion. During the same period last year, the business posted $1.21 EPS. The business’s revenue was up 4.8% compared to the same quarter last year. Equities analysts forecast that Tyson Foods, Inc. will post $5.06 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Friday, December 1st will be paid a dividend of $0.225 per share. The ex-dividend date of this dividend is Thursday, November 30th. This represents a $0.90 annualized dividend and a yield of 1.37%. Tyson Foods’s dividend payout ratio (DPR) is 18.95%.
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TSN has been the topic of several recent research reports. Zacks Investment Research cut Tyson Foods from a “buy” rating to a “hold” rating in a research note on Wednesday, May 10th. ValuEngine cut Tyson Foods from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Goldman Sachs Group, Inc. (The) reaffirmed a “buy” rating and issued a $76.00 price target on shares of Tyson Foods in a research note on Tuesday, May 9th. Barclays PLC initiated coverage on Tyson Foods in a research note on Tuesday, June 6th. They issued an “overweight” rating and a $70.00 price target on the stock. Finally, Credit Suisse Group initiated coverage on Tyson Foods in a research note on Wednesday, July 19th. They issued a “neutral” rating and a $65.00 price target on the stock. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $69.79.
Tyson Foods Company 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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