Convergence Investment Partners LLC Sells 7,705 Shares of Tyson Foods, Inc. (TSN)
Convergence Investment Partners LLC lowered its stake in shares of Tyson Foods, Inc. (NYSE:TSN) by 16.4% during the fourth quarter, HoldingsChannel reports. The firm owned 39,292 shares of the company’s stock after selling 7,705 shares during the quarter. Convergence Investment Partners LLC’s holdings in Tyson Foods were worth $3,185,000 as of its most recent SEC filing.
A number of other hedge funds also recently modified their holdings of the stock. Quantum Capital Management boosted its holdings in Tyson Foods by 4.3% in the second quarter. Quantum Capital Management now owns 3,863 shares of the company’s stock worth $242,000 after acquiring an additional 161 shares in the last quarter. Sentry Investment Management LLC boosted its holdings in Tyson Foods by 1.0% in the second quarter. Sentry Investment Management LLC now owns 22,219 shares of the company’s stock worth $1,392,000 after acquiring an additional 229 shares in the last quarter. L & S Advisors Inc boosted its holdings in Tyson Foods by 4.3% in the second quarter. L & S Advisors Inc now owns 5,805 shares of the company’s stock worth $364,000 after acquiring an additional 240 shares in the last quarter. Bancorpsouth Inc. boosted its holdings in Tyson Foods by 8.4% in the second quarter. Bancorpsouth Inc. now owns 7,448 shares of the company’s stock worth $467,000 after acquiring an additional 578 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. boosted its holdings in Tyson Foods by 4.7% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 15,919 shares of the company’s stock worth $1,122,000 after acquiring an additional 715 shares in the last quarter. 71.33% of the stock is currently owned by institutional investors.
Shares of Tyson Foods, Inc. (NYSE TSN) opened at $78.67 on Wednesday. The company has a current ratio of 1.55, a quick ratio of 0.75 and a debt-to-equity ratio of 0.88. Tyson Foods, Inc. has a twelve month low of $57.20 and a twelve month high of $84.65. The company has a market capitalization of $28,900.00, a PE ratio of 16.42 and a beta of 0.36.
Tyson Foods (NYSE:TSN) last released its earnings results on Monday, November 13th. The company reported $1.43 EPS for the quarter, topping the Zacks’ consensus estimate of $1.38 by $0.05. Tyson Foods had a return on equity of 19.64% and a net margin of 4.64%. The firm had revenue of $10.15 billion during the quarter, compared to the consensus estimate of $9.93 billion. During the same quarter in the previous year, the company posted $0.96 earnings per share. The company’s revenue was up 10.8% compared to the same quarter last year. analysts expect that Tyson Foods, Inc. will post 5.82 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, March 15th. Investors of record on Thursday, March 1st will be issued a dividend of $0.30 per share. This is an increase from Tyson Foods’s previous quarterly dividend of $0.23. The ex-dividend date is Wednesday, February 28th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.53%. Tyson Foods’s payout ratio is 25.05%.
Several brokerages have weighed in on TSN. Zacks Investment Research downgraded Tyson Foods from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 6th. KeyCorp reissued a “buy” rating and issued a $88.00 price target on shares of Tyson Foods in a report on Thursday, December 21st. Piper Jaffray Companies began coverage on Tyson Foods in a report on Thursday, January 4th. They issued an “overweight” rating and a $94.00 price target for the company. ValuEngine raised Tyson Foods from a “hold” rating to a “buy” rating in a report on Monday, November 20th. Finally, raised Tyson Foods from a “sell” rating to a “hold” rating and set a $75.00 price target for the company in a report on Wednesday, November 15th. Eight investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $75.25.
In related news, insider Noel W. White sold 24,575 shares of Tyson Foods stock in a transaction dated Friday, December 22nd. The stock was sold at an average price of $80.96, for a total transaction of $1,989,592.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Thomas P. Hayes sold 53,874 shares of Tyson Foods stock in a transaction that occurred on Tuesday, December 19th. The shares were sold at an average price of $81.63, for a total value of $4,397,734.62. The disclosure for this sale can be found here. Insiders have sold 397,342 shares of company stock valued at $32,702,254 in the last ninety days. Corporate insiders own 1.55% of the company’s stock.
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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