Tyson Foods, Inc. (NYSE:TSN) Shares Sold by Convergence Investment Partners LLC
Convergence Investment Partners LLC cut its position in shares of Tyson Foods, Inc. (NYSE:TSN) by 4.8% during the second quarter, Holdings Channel reports. The firm owned 59,180 shares of the company’s stock after selling 3,012 shares during the period. Convergence Investment Partners LLC’s holdings in Tyson Foods were worth $3,706,000 at the end of the most recent quarter.
A number of other large investors have also bought and sold shares of TSN. BlackRock Inc. boosted 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. Barrow Hanley Mewhinney & Strauss LLC acquired a new stake in Tyson Foods during the first quarter worth $73,273,000. Skandinaviska Enskilda Banken AB publ boosted its stake in Tyson Foods by 2,655.1% in the first quarter. Skandinaviska Enskilda Banken AB publ now owns 1,216,095 shares of the company’s stock worth $75,045,000 after buying an additional 1,171,956 shares during the period. Hexavest Inc. acquired a new stake in Tyson Foods during the first quarter worth $62,890,000. Finally, Massachusetts Financial Services Co. MA boosted its stake in Tyson Foods by 70.1% in the first quarter. Massachusetts Financial Services Co. MA now owns 2,298,455 shares of the company’s stock worth $141,838,000 after buying an additional 947,215 shares during the period. Institutional investors and hedge funds own 71.97% of the company’s stock.
Shares of Tyson Foods, Inc. (TSN) opened at 65.55 on Friday. The stock’s 50 day moving average price is $62.32 and its 200 day moving average price is $62.16. Tyson Foods, Inc. has a 12-month low of $55.72 and a 12-month high of $77.05. The firm 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 posted its earnings results on Monday, August 7th. The company reported $1.28 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.18 by $0.10. Tyson Foods had a return on equity of 18.44% and a net margin of 4.75%. The business had revenue of $9.85 billion during the quarter, compared to analysts’ expectations of $9.49 billion. During the same period in the previous year, the business earned $1.21 earnings per share. The firm’s revenue was up 4.8% on a year-over-year basis. Equities research analysts expect that Tyson Foods, Inc. will post $5.06 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Friday, December 1st will be given a dividend of $0.225 per share. This represents a $0.90 annualized dividend and a yield of 1.37%. The ex-dividend date is Thursday, November 30th. Tyson Foods’s payout ratio is 18.95%.
TSN has been the topic of a number of research analyst reports. Zacks Investment Research upgraded Tyson Foods from a “hold” rating to a “buy” rating and set a $72.00 price target on the stock in a research note on Thursday, April 27th. J P Morgan Chase & Co increased their price target on Tyson Foods from $62.00 to $67.00 and gave the company a “neutral” rating in a research note on Monday, June 26th. Goldman Sachs Group, Inc. (The) reaffirmed a “buy” rating and issued a $76.00 price objective on shares of Tyson Foods in a report on Tuesday, May 9th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $75.00 price objective on shares of Tyson Foods in a report on Monday, May 8th. Finally, BMO Capital Markets reaffirmed a “buy” rating and issued a $75.00 price objective on shares of Tyson Foods in a report on Thursday, June 15th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average 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.
Want to see what other hedge funds are holding TSN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Tyson Foods, Inc. (NYSE:TSN).
Receive News & Ratings for Tyson Foods Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tyson Foods Inc. and related companies with MarketBeat.com's FREE daily email newsletter.