Municipal Employees Retirement System of Michigan Acquires 610 Shares of Tyson Foods, Inc. (NYSE:TSN)
Municipal Employees Retirement System of Michigan raised its position in shares of Tyson Foods, Inc. (NYSE:TSN) by 4.2% during the second quarter, Holdings Channel reports. The fund owned 15,170 shares of the company’s stock after buying an additional 610 shares during the period. Municipal Employees Retirement System of Michigan’s holdings in Tyson Foods were worth $950,000 as of its most recent SEC filing.
Other institutional investors have also made changes to their positions in the company. Wilsey Asset Management Inc. raised its position in Tyson Foods by 2.5% in the second quarter. Wilsey Asset Management Inc. now owns 137,692 shares of the company’s stock worth $8,598,000 after buying an additional 3,412 shares during the period. Montecito Bank & Trust raised its position in Tyson Foods by 3.7% in the second quarter. Montecito Bank & Trust now owns 4,160 shares of the company’s stock worth $260,000 after buying an additional 147 shares during the period. Hartford Investment Management Co. raised its position in Tyson Foods by 14.9% in the second quarter. Hartford Investment Management Co. now owns 74,224 shares of the company’s stock worth $4,649,000 after buying an additional 9,642 shares during the period. Acadian Asset Management LLC raised its position in Tyson Foods by 111.2% in the second quarter. Acadian Asset Management LLC now owns 6,984 shares of the company’s stock worth $438,000 after buying an additional 3,677 shares during the period. Finally, Russell Investments Group Ltd. raised its position in Tyson Foods by 74.0% in the second quarter. Russell Investments Group Ltd. now owns 1,989,863 shares of the company’s stock worth $124,644,000 after buying an additional 846,535 shares during the period. 71.97% of the stock is currently owned by institutional investors and hedge funds.
Shares of Tyson Foods, Inc. (TSN) opened at 65.55 on Friday. Tyson Foods, Inc. has a 12 month low of $55.72 and a 12 month high of $77.05. The firm’s 50 day moving average is $62.32 and its 200 day moving average is $62.16. The stock has a market capitalization of $24.05 billion, a price-to-earnings ratio of 13.82 and a beta of 0.26.
Tyson Foods (NYSE:TSN) last issued its quarterly earnings results on Monday, August 7th. The company reported $1.28 EPS for the quarter, beating analysts’ consensus estimates of $1.18 by $0.10. The company had revenue of $9.85 billion for the quarter, compared to analyst estimates of $9.49 billion. Tyson Foods had a return on equity of 18.44% and a net margin of 4.75%. The company’s quarterly revenue was up 4.8% compared to the same quarter last year. During the same period last year, the company earned $1.21 earnings per share. On average, equities analysts predict that Tyson Foods, Inc. will post $5.06 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Friday, December 1st will be issued a dividend of $0.225 per share. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.37%. The ex-dividend date is Thursday, November 30th. Tyson Foods’s dividend payout ratio (DPR) is 18.95%.
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A number of research firms recently weighed in on TSN. Zacks Investment Research upgraded shares of Tyson Foods from a “hold” rating to a “buy” rating and set a $73.00 price objective on the stock in a research report on Thursday. BMO Capital Markets reiterated an “outperform” rating and issued a $78.00 price objective (up from $75.00) on shares of Tyson Foods in a research report on Thursday. Mizuho reiterated a “buy” rating and issued a $76.00 price objective (up from $71.00) on shares of Tyson Foods in a research report on Wednesday. Royal Bank Of Canada lifted their price objective on shares of Tyson Foods from $68.00 to $70.00 and gave the company a “sector perform” rating in a research report on Tuesday. Finally, Pivotal Research reiterated a “sell” rating and issued a $40.00 price objective on shares of Tyson Foods in a research report on Tuesday. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. Tyson Foods has a consensus rating of “Buy” and a consensus target price of $69.79.
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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