Tokio Marine Asset Management Co. Ltd. reduced its position in shares of Tyson Foods Inc. (NYSE:TSN) by 4.9% during the second quarter, Holdings Channel reports. The institutional investor owned 9,684 shares of the company’s stock after selling 502 shares during the period. Tokio Marine Asset Management Co. Ltd.’s holdings in Tyson Foods were worth $647,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Bank of Montreal Can acquired a new position in shares of Tyson Foods during the second quarter valued at $169,614,000. JPMorgan Chase & Co. increased its position in shares of Tyson Foods by 103.7% in the first quarter. JPMorgan Chase & Co. now owns 3,916,007 shares of the company’s stock valued at $261,043,000 after buying an additional 1,993,213 shares during the period. AXA increased its position in shares of Tyson Foods by 1,459.3% in the first quarter. AXA now owns 1,063,460 shares of the company’s stock valued at $70,890,000 after buying an additional 995,260 shares during the period. Credit Agricole S A increased its position in shares of Tyson Foods by 94.8% in the first quarter. Credit Agricole S A now owns 1,426,087 shares of the company’s stock valued at $95,066,000 after buying an additional 694,025 shares during the period. Finally, State Street Corp increased its position in shares of Tyson Foods by 5.3% in the first quarter. State Street Corp now owns 12,852,492 shares of the company’s stock valued at $856,748,000 after buying an additional 647,431 shares during the period. Institutional investors and hedge funds own 74.07% of the company’s stock.
Shares of Tyson Foods Inc. (NYSE:TSN) traded down 8.91% during trading on Friday, hitting $67.75. The stock had a trading volume of 19,872,467 shares. Tyson Foods Inc. has a 12-month low of $42.89 and a 12-month high of $77.05. The stock’s 50-day moving average is $74.71 and its 200-day moving average is $69.14. The stock has a market cap of $25.88 billion, a price-to-earnings ratio of 16.47 and a beta of 0.26.
Tyson Foods (NYSE:TSN) last announced its quarterly earnings data on Monday, August 8th. The company reported $1.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.06 by $0.15. The business had revenue of $9.40 billion for the quarter, compared to analysts’ expectations of $9.32 billion. Tyson Foods had a return on equity of 17.29% and a net margin of 4.28%. The company’s revenue for the quarter was down 6.6% compared to the same quarter last year. During the same period last year, the firm earned $0.80 earnings per share. On average, equities research analysts expect that Tyson Foods Inc. will post $4.53 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 15th. Stockholders of record on Thursday, December 1st will be paid a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 0.89%. The ex-dividend date is Tuesday, November 29th. Tyson Foods’s payout ratio is currently 14.53%.
Several brokerages recently weighed in on TSN. Zacks Investment Research downgraded Tyson Foods from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 12th. RBC Capital Markets restated a “sector perform” rating and set a $72.00 target price (up from $68.00) on shares of Tyson Foods in a research note on Friday, August 5th. BMO Capital Markets restated a “market perform” rating and set a $77.00 target price on shares of Tyson Foods in a research note on Thursday, August 11th. Vetr downgraded Tyson Foods from a “buy” rating to a “hold” rating and set a $69.00 target price on the stock. in a research note on Thursday, June 30th. Finally, Pivotal Research restated a “buy” rating and set a $100.00 target price on shares of Tyson Foods in a research note on Wednesday, August 10th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $67.93.
In other news, Director Robert C. Thurber sold 4,500 shares of the stock in a transaction on Friday, August 12th. The stock was sold at an average price of $74.93, for a total value of $337,185.00. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Bebber David L. Van sold 70,000 shares of the stock in a transaction on Friday, August 12th. The shares were sold at an average price of $75.00, for a total value of $5,250,000.00. The disclosure for this sale can be found here. 2.69% of the stock is owned by insiders.
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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