First Citizens Bank & Trust Co. boosted its position in shares of Tyson Foods Inc. (NYSE:TSN) by 30.3% during the second quarter, Holdings Channel reports. The fund owned 89,250 shares of the company’s stock after buying an additional 20,731 shares during the period. First Citizens Bank & Trust Co.’s holdings in Tyson Foods were worth $5,961,000 as of its most recent filing with the SEC.
Other large investors have also recently added to or reduced their stakes in the company. M&T Bank Corp raised its stake in Tyson Foods by 21.0% in the first quarter. M&T Bank Corp now owns 32,474 shares of the company’s stock worth $2,166,000 after buying an additional 5,633 shares during the last quarter. Menta Capital LLC bought a new position in Tyson Foods during the first quarter worth approximately $2,286,000. Landscape Capital Management L.L.C. increased its position in Tyson Foods by 47.0% in the first quarter. Landscape Capital Management L.L.C. now owns 22,200 shares of the company’s stock worth $1,480,000 after buying an additional 7,100 shares during the period. Advisor Partners LLC bought a new position in Tyson Foods during the first quarter worth approximately $221,000. Finally, NN Investment Partners Holdings N.V. bought a new position in Tyson Foods during the first quarter worth approximately $16,144,000. 74.07% of the stock is owned by institutional investors and hedge funds.
Tyson Foods Inc. (NYSE:TSN) traded down 8.74% during trading on Friday, reaching $67.88. 17,695,498 shares of the company’s stock traded hands. Tyson Foods Inc. has a 12 month low of $42.89 and a 12 month high of $77.05. The firm’s 50 day moving average is $74.92 and its 200-day moving average is $69.13. The company has a market capitalization of $25.93 billion, a price-to-earnings ratio of 16.50 and a beta of 0.26.
Tyson Foods (NYSE:TSN) last announced its earnings results on Monday, August 8th. The company reported $1.21 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.06 by $0.15. Tyson Foods had a net margin of 4.28% and a return on equity of 17.29%. The business had revenue of $9.40 billion for the quarter, compared to analyst estimates of $9.32 billion. During the same quarter in the previous year, the firm posted $0.80 earnings per share. Tyson Foods’s revenue was down 6.6% compared to the same quarter last year. Analysts expect that Tyson Foods Inc. will post $4.53 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, December 15th. Investors of record on Thursday, December 1st will be given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 0.81%. The ex-dividend date is Tuesday, November 29th. Tyson Foods’s dividend payout ratio (DPR) is currently 14.53%.
A number of research analysts have commented on the stock. JPMorgan Chase & Co. reiterated a “focus list” rating on shares of Tyson Foods in a research note on Tuesday. RBC Capital Markets reiterated a “sector perform” rating and set a $75.00 price objective (up from $72.00) on shares of Tyson Foods in a research note on Thursday, August 11th. BMO Capital Markets reiterated a “market perform” rating and set a $77.00 price objective on shares of Tyson Foods in a research note on Thursday, August 11th. Pivotal Research reiterated a “buy” rating and set a $100.00 price objective on shares of Tyson Foods in a research note on Wednesday, August 10th. Finally, Credit Agricole SA increased their price objective on shares of Tyson Foods from $77.00 to $82.00 and gave the company an “outperform” rating in a research note on Tuesday, August 2nd. One analyst has rated the stock with a sell rating, six have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $67.93.
In other Tyson Foods news, Chairman John H. Tyson sold 282,478 shares of the business’s stock in a transaction on Wednesday, August 17th. The shares were sold at an average price of $74.22, for a total value of $20,965,517.16. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Noel W. White sold 74,934 shares of the business’s stock in a transaction on Friday, August 26th. The shares were sold at an average price of $75.44, for a total transaction of $5,653,020.96. The disclosure for this sale can be found here. Corporate insiders own 2.69% of the company’s stock.
About Tyson Foods
Tyson Foods, Inc is a food company. The Company is engaged in offering chicken, beef and pork, as well as prepared foods, including bacon, breakfast sausage, turkey, lunchmeat, hot dogs, pizza crusts and toppings, tortillas and desserts. The Company offers food products under Tyson, Jimmy Dean, Hillshire Farm, Sara Lee, Ball Park, Wright, Aidells and State Fair brands.
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