Cibc World Markets Corp Buys 73,497 Shares of Tyson Foods, Inc. (TSN)
Cibc World Markets Corp boosted its stake in shares of Tyson Foods, Inc. (NYSE:TSN) by 70.0% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 178,474 shares of the company’s stock after purchasing an additional 73,497 shares during the quarter. Cibc World Markets Corp’s holdings in Tyson Foods were worth $11,178,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds also recently modified their holdings of the company. Washington Trust Bank boosted its position in Tyson Foods by 60.0% during the second quarter. Washington Trust Bank now owns 2,240 shares of the company’s stock valued at $140,000 after purchasing an additional 840 shares in the last quarter. Independent Portfolio Consultants Inc. boosted its position in Tyson Foods by 146.7% during the second quarter. Independent Portfolio Consultants Inc. now owns 2,282 shares of the company’s stock valued at $143,000 after purchasing an additional 1,357 shares in the last quarter. IFP Advisors Inc boosted its position in Tyson Foods by 17.0% during the second quarter. IFP Advisors Inc now owns 2,470 shares of the company’s stock valued at $155,000 after purchasing an additional 359 shares in the last quarter. IHT Wealth Management LLC boosted its position in Tyson Foods by 62.9% during the first quarter. IHT Wealth Management LLC now owns 2,850 shares of the company’s stock valued at $177,000 after purchasing an additional 1,100 shares in the last quarter. Finally, Harbour Capital Advisors LLC bought a new stake in Tyson Foods during the first quarter valued at about $196,000. 70.83% of the stock is currently owned by institutional investors.
In other news, Director Mikel A. Durham bought 2,809 shares of the firm’s stock in a transaction that occurred on Monday, August 14th. The stock was purchased at an average cost of $65.77 per share, with a total value of $184,747.93. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Dennis Leatherby sold 145,100 shares of the company’s stock in a transaction dated Monday, August 14th. The shares were sold at an average price of $65.97, for a total value of $9,572,247.00. The disclosure for this sale can be found here. 2.65% of the stock is owned by corporate insiders.
Several equities research analysts have weighed in on the company. BidaskClub downgraded Tyson Foods from a “buy” rating to a “hold” rating in a report on Thursday, June 22nd. Pivotal Research reissued a “sell” rating and issued a $40.00 price target on shares of Tyson Foods in a report on Wednesday, July 12th. Mizuho reissued a “buy” rating and issued a $71.00 price target on shares of Tyson Foods in a report on Monday, July 10th. Credit Suisse Group set a $70.00 price target on Tyson Foods and gave the stock a “neutral” rating in a report on Tuesday, August 8th. Finally, BMO Capital Markets reissued a “buy” rating and issued a $75.00 price target on shares of Tyson Foods in a report on Thursday, June 15th. One analyst has rated the stock with a sell rating, seven have given a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $69.79.
Tyson Foods, Inc. (NYSE:TSN) traded up 0.12% during midday trading on Friday, hitting $65.41. The company had a trading volume of 1,454,754 shares. Tyson Foods, Inc. has a 12 month low of $55.72 and a 12 month high of $76.93. The firm has a 50-day moving average price of $64.80 and a 200-day moving average price of $62.35. The company has a market cap of $24.00 billion, a price-to-earnings ratio of 13.79 and a beta of 0.26.
Tyson Foods (NYSE:TSN) last announced its earnings results on Monday, August 7th. The company reported $1.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 business’s revenue was up 4.8% on a year-over-year basis. During the same period in the prior year, the firm earned $1.21 EPS. Equities analysts anticipate that Tyson Foods, Inc. will post $5.06 EPS for the current year.
The company 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 $0.225 dividend. The ex-dividend date is Thursday, November 30th. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.38%. Tyson Foods’s dividend payout ratio (DPR) is presently 18.95%.
Tyson Foods Profile
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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