Meag Munich Ergo Kapitalanlagegesellschaft MBH acquired a new position in Tyson Foods Inc. (NYSE:TSN) during the second quarter, Holdings Channel reports. The institutional investor acquired 338,096 shares of the company’s stock, valued at approximately $22,514,000. Tyson Foods comprises 2.0% of Meag Munich Ergo Kapitalanlagegesellschaft MBH’s holdings, making the stock its 8th largest position.
Other hedge funds have also recently added to or reduced their stakes in the company. M&T Bank Corp increased its stake in shares of Tyson Foods by 21.0% in the first quarter. M&T Bank Corp now owns 32,474 shares of the company’s stock valued at $2,166,000 after buying an additional 5,633 shares in the last quarter. Aviva PLC increased its stake in shares of Tyson Foods by 3.2% in the first quarter. Aviva PLC now owns 181,316 shares of the company’s stock valued at $12,086,000 after buying an additional 5,668 shares in the last quarter. Canada Pension Plan Investment Board increased its stake in shares of Tyson Foods by 2,527.8% in the first quarter. Canada Pension Plan Investment Board now owns 482,252 shares of the company’s stock valued at $32,147,000 after buying an additional 463,900 shares in the last quarter. State Street Corp increased its stake 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 in the last quarter. Finally, Meeder Asset Management Inc. bought a new stake in shares of Tyson Foods during the first quarter valued at about $3,248,000. Institutional investors and hedge funds own 74.12% of the company’s stock.
Shares of Tyson Foods Inc. (NYSE:TSN) traded up 0.01% during trading on Tuesday, reaching $71.56. 1,691,368 shares of the company’s stock were exchanged. The company has a market capitalization of $27.34 billion, a PE ratio of 17.40 and a beta of 0.26. The company has a 50 day moving average price of $74.07 and a 200-day moving average price of $69.33. Tyson Foods Inc. has a 52-week low of $42.89 and a 52-week high of $77.05.
Tyson Foods (NYSE:TSN) last released 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. Tyson Foods had a net margin of 4.28% and a return on equity of 17.29%. The business earned $9.40 billion during the quarter, compared to analyst estimates of $9.32 billion. During the same quarter in the previous year, the business earned $0.80 EPS. Tyson Foods’s quarterly revenue was down 6.6% compared to the same quarter last year. On average, equities analysts forecast that Tyson Foods Inc. will post $4.53 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 15th. Investors 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 0.84%. The ex-dividend date of this dividend is Tuesday, November 29th. Tyson Foods’s payout ratio is presently 14.53%.
Several analysts recently issued reports on the company. Zacks Investment Research downgraded Tyson Foods from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 12th. RBC Capital Markets reiterated a “sector perform” rating and issued a $72.00 price target (up from $68.00) on shares of Tyson Foods in a report on Friday, August 5th. BMO Capital Markets reiterated a “market perform” rating and issued a $77.00 price target on shares of Tyson Foods in a report on Thursday, August 11th. Vetr downgraded Tyson Foods from a “buy” rating to a “hold” rating and set a $69.00 price target for the company. in a report on Thursday, June 30th. Finally, Pivotal Research reiterated a “buy” rating and issued a $100.00 price target on shares of Tyson Foods in a report on Wednesday, August 10th. Three investment analysts have rated the stock with a sell rating, four have issued a hold rating and seven have assigned a buy rating to the company’s stock. Tyson Foods presently has a consensus rating of “Hold” and an average target price of $68.42.
In related news, Chairman John H. Tyson sold 282,478 shares of Tyson Foods 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 filing with the SEC, which is available at the SEC website. Also, EVP Bebber David L. Van sold 70,000 shares of Tyson Foods stock in a transaction on Friday, August 12th. The stock was sold at an average price of $75.00, for a total transaction of $5,250,000.00. The disclosure for this sale can be found here. 2.69% of the stock is currently owned by corporate 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.
Want to see what other hedge funds are holding TSN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Tyson Foods Inc. (NYSE:TSN).
Receive News & Ratings for Tyson Foods Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tyson Foods Inc. and related companies with MarketBeat.com's FREE daily email newsletter.