Tyson Foods, Inc. $TSN Shares Sold by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. lessened its stake in shares of Tyson Foods, Inc. (NYSE:TSN) by 11.8% during the 1st quarter, Holdings Channel reports. The fund owned 643,835 shares of the company’s stock after selling 85,765 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Tyson Foods were worth $41,251,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of TSN. Empowered Funds LLC increased its position in Tyson Foods by 15.6% during the first quarter. Empowered Funds LLC now owns 28,076 shares of the company’s stock worth $1,792,000 after purchasing an additional 3,788 shares during the last quarter. Woodline Partners LP boosted its holdings in Tyson Foods by 40.8% in the 1st quarter. Woodline Partners LP now owns 24,178 shares of the company’s stock valued at $1,543,000 after purchasing an additional 7,011 shares during the last quarter. Focus Partners Wealth grew its stake in shares of Tyson Foods by 84.0% in the 1st quarter. Focus Partners Wealth now owns 12,597 shares of the company’s stock valued at $804,000 after buying an additional 5,749 shares during the period. Sivia Capital Partners LLC increased its holdings in shares of Tyson Foods by 100.3% during the 2nd quarter. Sivia Capital Partners LLC now owns 7,393 shares of the company’s stock worth $414,000 after buying an additional 3,702 shares during the last quarter. Finally, Cerity Partners LLC raised its position in shares of Tyson Foods by 129.2% during the 2nd quarter. Cerity Partners LLC now owns 85,939 shares of the company’s stock valued at $4,807,000 after buying an additional 48,451 shares during the period. Institutional investors and hedge funds own 67.00% of the company’s stock.

Wall Street Analyst Weigh In

TSN has been the subject of several recent analyst reports. Piper Sandler reissued an “overweight” rating and set a $78.00 target price (down from $80.00) on shares of Tyson Foods in a research note on Thursday, June 18th. Mizuho started coverage on Tyson Foods in a report on Thursday, March 26th. They set an “outperform” rating and a $72.00 price target for the company. Sanford C. Bernstein cut their price objective on Tyson Foods from $72.00 to $63.00 and set a “market perform” rating for the company in a research report on Thursday, July 2nd. Bank of America decreased their target price on shares of Tyson Foods from $70.00 to $68.00 and set a “neutral” rating on the stock in a research report on Thursday, July 2nd. Finally, JPMorgan Chase & Co. dropped their price target on shares of Tyson Foods from $67.00 to $65.00 and set a “neutral” rating for the company in a research report on Tuesday, March 24th. Four analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $69.56.

Tyson Foods Stock Performance

NYSE:TSN opened at $57.72 on Monday. Tyson Foods, Inc. has a 52 week low of $50.56 and a 52 week high of $69.48. The company has a fifty day simple moving average of $60.96 and a two-hundred day simple moving average of $61.82. The company has a quick ratio of 0.70, a current ratio of 1.83 and a debt-to-equity ratio of 0.44. The company has a market cap of $20.32 billion, a price-to-earnings ratio of 45.45, a price-to-earnings-growth ratio of 1.20 and a beta of 0.40.

Tyson Foods (NYSE:TSN) last released its earnings results on Monday, May 4th. The company reported $0.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.76 by $0.11. Tyson Foods had a return on equity of 7.59% and a net margin of 0.81%.The firm had revenue of $13.65 billion during the quarter, compared to analyst estimates of $13.63 billion. During the same period last year, the business posted $0.92 earnings per share. Tyson Foods’s revenue was up 4.4% compared to the same quarter last year. As a group, equities analysts anticipate that Tyson Foods, Inc. will post 4.09 earnings per share for the current fiscal year.

Tyson Foods Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st will be paid a $0.51 dividend. The ex-dividend date is Tuesday, September 1st. This represents a $2.04 dividend on an annualized basis and a yield of 3.5%. Tyson Foods’s payout ratio is currently 160.63%.

About Tyson Foods

Tyson Foods, Inc (NYSE: TSN) is a multinational food company primarily engaged in the production, processing and marketing of protein-based and prepared food products. Founded in 1935 and headquartered in Springdale, Arkansas, the company is one of the world’s largest processors of chicken, beef and pork. Its operations span live animal procurement and farming relationships through slaughter, further processing and distribution, supplying raw protein and value-added prepared foods to retail, foodservice and industrial customers.

The company’s product portfolio covers fresh and frozen meats, branded and private-label prepared foods, and a range of value-added items such as ready-to-eat and ready-to-cook meals, snack and sandwich meats.