Cidel Asset Management Inc. Buys New Position in Tyson Foods, Inc. $TSN

Cidel Asset Management Inc. bought a new stake in Tyson Foods, Inc. (NYSE:TSN) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 10,222 shares of the company’s stock, valued at approximately $517,000.

Other institutional investors also recently added to or reduced their stakes in the company. Hsbc Holdings PLC grew its stake in shares of Tyson Foods by 57.8% in the first quarter. Hsbc Holdings PLC now owns 930,379 shares of the company’s stock worth $59,560,000 after acquiring an additional 340,671 shares during the last quarter. Amundi increased its position in Tyson Foods by 31.6% during the first quarter. Amundi now owns 1,225,806 shares of the company’s stock worth $78,537,000 after acquiring an additional 294,328 shares during the period. Bank of America Corp DE raised its stake in Tyson Foods by 17.8% during the 1st quarter. Bank of America Corp DE now owns 1,610,663 shares of the company’s stock valued at $103,195,000 after purchasing an additional 243,060 shares during the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in Tyson Foods during the 2nd quarter valued at $11,267,000. Finally, Fifth Third Bancorp boosted its holdings in Tyson Foods by 1,605.1% in the 1st quarter. Fifth Third Bancorp now owns 135,024 shares of the company’s stock valued at $8,651,000 after purchasing an additional 127,105 shares during the period. 67.00% of the stock is owned by institutional investors.

Analyst Ratings Changes

TSN has been the topic of several research reports. JPMorgan Chase & Co. upgraded shares of Tyson Foods from a “neutral” rating to an “overweight” rating and dropped their price objective for the stock from $65.00 to $63.00 in a report on Friday, September 18th. HSBC reduced their target price on shares of Tyson Foods from $74.00 to $69.00 and set a “hold” rating for the company in a research note on Wednesday, July 29th. Barclays decreased their target price on Tyson Foods from $78.00 to $75.00 and set an “overweight” rating on the stock in a research report on Friday, September 4th. Piper Sandler lowered their price target on Tyson Foods from $66.00 to $56.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 7th. Finally, Zacks Research cut Tyson Foods from a “hold” rating to a “strong sell” rating in a report on Thursday, August 6th. Five research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $66.78.

Tyson Foods Stock Performance

NYSE TSN opened at $57.05 on Monday. Tyson Foods, Inc. has a twelve month low of $49.96 and a twelve month high of $69.48. The company has a quick ratio of 0.55, a current ratio of 1.43 and a debt-to-equity ratio of 0.36. The stock has a market cap of $20.07 billion, a P/E ratio of 35.22, a PEG ratio of 0.95 and a beta of 0.38. The company’s 50-day simple moving average is $53.71 and its 200 day simple moving average is $59.57.

Tyson Foods (NYSE:TSN) last announced its quarterly earnings results on Monday, August 3rd. The company reported $0.99 EPS for the quarter, hitting analysts’ consensus estimates of $0.99. Tyson Foods had a net margin of 1.03% and a return on equity of 7.77%. The firm had revenue of $13.87 billion during the quarter, compared to analysts’ expectations of $14.07 billion. During the same quarter last year, the company earned $0.91 earnings per share. The company’s revenue for the quarter was down .1% compared to the same quarter last year. As a group, research analysts forecast that Tyson Foods, Inc. will post 3.49 earnings per share for the current fiscal year.

Tyson Foods Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 15th. Investors of record on Tuesday, December 1st will be given a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a dividend yield of 3.6%. The ex-dividend date is Tuesday, December 1st. Tyson Foods’s dividend payout ratio (DPR) is 125.93%.

About Tyson Foods

Tyson Foods, Inc is a global food company that produces and markets protein-based food products. Its operations include poultry, beef, pork and prepared foods, serving retail grocery, foodservice and industrial customers.

The company sells products under brands including Tyson, Jimmy Dean, Hillshire Farm, Ball Park, Wright, Aidells and State Fair. Its offerings include fresh and frozen meat, deli products, sausages, bacon, prepared meals, snacks and other convenience foods.

Founded in 1935 by John W.