Piedmont Investment Advisors LLC Raises Stake in Tyson Foods, Inc. (TSN)
Piedmont Investment Advisors LLC lifted its position in Tyson Foods, Inc. (NYSE:TSN) by 4.2% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 112,292 shares of the company’s stock after acquiring an additional 4,499 shares during the quarter. Piedmont Investment Advisors LLC’s holdings in Tyson Foods were worth $7,911,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Koch Industries Inc. grew its position in shares of Tyson Foods by 13,862.2% in the 2nd quarter. Koch Industries Inc. now owns 776,858 shares of the company’s stock worth $765,000 after acquiring an additional 771,294 shares in the last quarter. Assenagon Asset Management S.A. grew its position in shares of Tyson Foods by 2,014.3% in the 3rd quarter. Assenagon Asset Management S.A. now owns 319,534 shares of the company’s stock worth $22,511,000 after acquiring an additional 304,421 shares in the last quarter. TIAA FSB acquired a new position in shares of Tyson Foods in the 3rd quarter worth approximately $3,813,000. Meag Munich Ergo Kapitalanlagegesellschaft MBH grew its position in shares of Tyson Foods by 130.5% in the 3rd quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH now owns 241,411 shares of the company’s stock worth $15,849,000 after acquiring an additional 136,695 shares in the last quarter. Finally, BT Investment Management Ltd acquired a new position in shares of Tyson Foods in the 2nd quarter worth approximately $15,974,000. Institutional investors own 71.57% of the company’s stock.
Tyson Foods, Inc. (NYSE:TSN) traded up $0.03 during trading hours on Thursday, reaching $82.70. The company had a trading volume of 2,232,900 shares, compared to its average volume of 2,642,018. Tyson Foods, Inc. has a twelve month low of $57.20 and a twelve month high of $84.65. The firm has a market cap of $30,399.25, a price-to-earnings ratio of 15.57 and a beta of 0.36. The company has a quick ratio of 0.75, a current ratio of 1.55 and a debt-to-equity ratio of 0.88.
Tyson Foods (NYSE:TSN) last announced its earnings results on Monday, November 13th. The company reported $1.43 earnings per share for the quarter, beating the consensus estimate of $1.38 by $0.05. The firm had revenue of $10.15 billion for the quarter, compared to the consensus estimate of $9.93 billion. Tyson Foods had a return on equity of 19.64% and a net margin of 4.64%. The firm’s revenue for the quarter was up 10.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.96 EPS. sell-side analysts forecast that Tyson Foods, Inc. will post 5.81 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 15th. Shareholders of record on Thursday, March 1st will be paid a dividend of $0.30 per share. The ex-dividend date of this dividend is Wednesday, February 28th. This represents a $1.20 annualized dividend and a yield of 1.45%. This is an increase from Tyson Foods’s previous quarterly dividend of $0.23. Tyson Foods’s payout ratio is presently 25.05%.
TSN has been the subject of several research reports. Jefferies Group set a $85.00 target price on Tyson Foods and gave the stock a “buy” rating in a research report on Monday, October 30th. Mizuho restated a “buy” rating and set a $76.00 price objective on shares of Tyson Foods in a research report on Monday, October 2nd. Fundamental Research restated a “buy” rating on shares of Tyson Foods in a research report on Thursday, August 17th. Argus upgraded Tyson Foods from a “hold” rating to a “buy” rating and set a $90.00 price objective for the company in a research report on Wednesday, November 15th. Finally, ValuEngine upgraded Tyson Foods from a “hold” rating to a “buy” rating in a research report on Monday, November 20th. Eight equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $73.71.
In other Tyson Foods news, CFO Dennis Leatherby sold 115,293 shares of Tyson Foods stock in a transaction on Thursday, November 30th. The stock was sold at an average price of $82.09, for a total transaction of $9,464,402.37. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Scott Rouse sold 1,000 shares of Tyson Foods stock in a transaction on Thursday, November 16th. The shares were sold at an average price of $77.26, for a total value of $77,260.00. The disclosure for this sale can be found here. Insiders have sold a total of 318,893 shares of company stock worth $26,314,927 in the last ninety days. 2.65% of the stock is owned by company insiders.
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Tyson Foods Company 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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