Norges Bank Buys New Stake in Tyson Foods, Inc. $TSN

Norges Bank bought a new stake in Tyson Foods, Inc. (NYSE:TSN) during the fourth quarter, Holdings Channel reports. The firm bought 5,259,241 shares of the company’s stock, valued at approximately $308,297,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. City Holding Co. acquired a new position in Tyson Foods in the 4th quarter valued at $29,000. Cary Street Partners Investment Advisory LLC grew its position in Tyson Foods by 62.3% in the 4th quarter. Cary Street Partners Investment Advisory LLC now owns 516 shares of the company’s stock worth $30,000 after purchasing an additional 198 shares during the last quarter. Activest Wealth Management grew its position in Tyson Foods by 3,842.9% in the 4th quarter. Activest Wealth Management now owns 552 shares of the company’s stock worth $32,000 after purchasing an additional 538 shares during the last quarter. ORG Partners LLC grew its position in Tyson Foods by 2,519.2% in the 4th quarter. ORG Partners LLC now owns 681 shares of the company’s stock worth $40,000 after purchasing an additional 655 shares during the last quarter. Finally, Brown Brothers Harriman & Co. grew its position in Tyson Foods by 110.3% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 732 shares of the company’s stock worth $40,000 after purchasing an additional 384 shares during the last quarter. 67.00% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Wall Street Zen upgraded shares of Tyson Foods from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. BMO Capital Markets restated an “outperform” rating on shares of Tyson Foods in a research report on Tuesday, May 5th. JPMorgan Chase & Co. decreased their price target on shares of Tyson Foods from $67.00 to $65.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 24th. Argus upgraded shares of Tyson Foods to a “hold” rating in a research report on Friday, February 6th. Finally, Sanford C. Bernstein restated a “market perform” rating and issued a $69.00 price target on shares of Tyson Foods in a research report on Tuesday, February 3rd. Five analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $68.27.

Tyson Foods Trading Down 1.8%

Shares of NYSE TSN opened at $59.94 on Tuesday. Tyson Foods, Inc. has a 1-year low of $50.56 and a 1-year high of $69.48. The company has a market cap of $21.11 billion, a PE ratio of 47.20, a P/E/G ratio of 1.25 and a beta of 0.40. The company has a current ratio of 1.83, a quick ratio of 0.70 and a debt-to-equity ratio of 0.44. The company has a 50-day moving average of $64.57 and a two-hundred day moving average of $61.66.

Tyson Foods (NYSE:TSN) last announced its earnings results on Monday, May 4th. The company reported $0.87 earnings per share for the quarter, topping analysts’ consensus estimates of $0.76 by $0.11. Tyson Foods had a net margin of 0.81% and a return on equity of 7.59%. The company had revenue of $13.65 billion during the quarter, compared to the consensus estimate of $13.63 billion. During the same period in the previous year, the firm posted $0.92 earnings per share. The company’s revenue was up 4.4% on a year-over-year basis. As a group, equities analysts expect that Tyson Foods, Inc. will post 4.1 earnings per share for the current fiscal year.

Tyson Foods Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st will be paid a $0.51 dividend. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $2.04 dividend on an annualized basis and a dividend yield of 3.4%. Tyson Foods’s payout ratio is currently 160.63%.

Tyson Foods Company Profile

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.