Stoneridge Investment Partners LLC Increases Stake in Tyson Foods, Inc. (TSN)
Stoneridge Investment Partners LLC raised its position in Tyson Foods, Inc. (NYSE:TSN) by 70.2% during the second quarter, Holdings Channel reports. The firm owned 150,575 shares of the company’s stock after buying an additional 62,088 shares during the period. Tyson Foods comprises approximately 1.4% of Stoneridge Investment Partners LLC’s investment portfolio, making the stock its 12th largest position. Stoneridge Investment Partners LLC’s holdings in Tyson Foods were worth $9,431,000 as of its most recent SEC filing.
Other hedge funds have also added to or reduced their stakes in the company. BlackRock Inc. raised its stake in Tyson Foods by 2,404.6% in the first quarter. BlackRock Inc. now owns 19,055,591 shares of the company’s stock worth $1,175,919,000 after buying an additional 18,294,771 shares during the period. State Street Corp raised its stake in Tyson Foods by 0.9% in the first quarter. State Street Corp now owns 14,004,153 shares of the company’s stock worth $864,191,000 after buying an additional 120,056 shares during the period. Ameriprise Financial Inc. raised its stake in Tyson Foods by 7.3% in the first quarter. Ameriprise Financial Inc. now owns 7,419,216 shares of the company’s stock worth $457,839,000 after buying an additional 506,267 shares during the period. JPMorgan Chase & Co. raised its stake in Tyson Foods by 10.5% in the first quarter. JPMorgan Chase & Co. now owns 5,855,494 shares of the company’s stock worth $361,341,000 after buying an additional 558,104 shares during the period. Finally, Alliancebernstein L.P. raised its stake in Tyson Foods by 8.2% in the first quarter. Alliancebernstein L.P. now owns 4,790,930 shares of the company’s stock worth $295,648,000 after buying an additional 362,044 shares during the period. 71.97% of the stock is owned by institutional investors.
Tyson Foods, Inc. (TSN) opened at 65.02 on Wednesday. The stock’s 50 day moving average is $61.77 and its 200 day moving average is $62.05. Tyson Foods, Inc. has a 12-month low of $55.72 and a 12-month high of $77.05. The firm has a market cap of $23.86 billion, a P/E ratio of 13.58 and a beta of 0.26.
Tyson Foods (NYSE:TSN) last posted its earnings results on Monday, August 7th. The company reported $1.28 earnings per share for the quarter, topping the consensus estimate of $1.18 by $0.10. The firm had revenue of $9.85 billion during the quarter, compared to analysts’ expectations of $9.49 billion. Tyson Foods had a return on equity of 18.44% and a net margin of 4.75%. The firm’s revenue was up 4.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.21 earnings per share. On average, equities research analysts expect that Tyson Foods, Inc. will post $5.01 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Friday, September 1st will be paid a dividend of $0.225 per share. This represents a $0.90 annualized dividend and a yield of 1.38%. The ex-dividend date is Wednesday, August 30th. Tyson Foods’s payout ratio is 18.95%.
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A number of analysts recently weighed in on TSN shares. Zacks Investment Research lowered shares of Tyson Foods from a “buy” rating to a “hold” rating in a research note on Wednesday, August 2nd. Pivotal Research reiterated a “sell” rating and issued a $40.00 target price on shares of Tyson Foods in a report on Tuesday. ValuEngine downgraded shares of Tyson Foods from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Jefferies Group LLC reiterated a “buy” rating and issued a $75.00 target price on shares of Tyson Foods in a report on Thursday, July 27th. Finally, Goldman Sachs Group, Inc. (The) reiterated a “buy” rating and issued a $76.00 target price on shares of Tyson Foods in a report on Tuesday, May 9th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $68.54.
About Tyson Foods
Tyson Foods, Inc is a food company, which is engaged in offering chicken, beef and pork, as well as prepared foods. The Company offers food products under Tyson, Jimmy Dean, Hillshire Farm, Sara Lee, Ball Park, Wright, Aidells and State Fair brands. The Company operates through four segments: Chicken, Beef, Pork and Prepared Foods.
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