Pzena Investment Management LLC Raises Holdings in Tyson Foods, Inc. $TSN

Pzena Investment Management LLC raised its stake in Tyson Foods, Inc. (NYSE:TSN) by 12.1% in the first quarter, HoldingsChannel.com reports. The fund owned 17,155,713 shares of the company’s stock after buying an additional 1,845,200 shares during the quarter. Tyson Foods accounts for 3.6% of Pzena Investment Management LLC’s portfolio, making the stock its 3rd biggest position. Pzena Investment Management LLC’s holdings in Tyson Foods were worth $1,099,167,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently made changes to their positions in the company. State Street Corp raised its position in shares of Tyson Foods by 0.6% during the 3rd quarter. State Street Corp now owns 14,075,676 shares of the company’s stock worth $764,309,000 after purchasing an additional 85,282 shares during the period. Davis Selected Advisers boosted its position in Tyson Foods by 28.8% during the 4th quarter. Davis Selected Advisers now owns 12,827,540 shares of the company’s stock valued at $751,951,000 after purchasing an additional 2,865,413 shares during the period. AQR Capital Management LLC boosted its position in Tyson Foods by 20.6% during the 4th quarter. AQR Capital Management LLC now owns 8,114,441 shares of the company’s stock valued at $475,669,000 after purchasing an additional 1,387,645 shares during the period. Invesco Ltd. grew its stake in Tyson Foods by 1.4% during the 4th quarter. Invesco Ltd. now owns 6,055,876 shares of the company’s stock worth $354,995,000 after buying an additional 83,861 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD increased its position in Tyson Foods by 4.2% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,317,378 shares of the company’s stock worth $311,706,000 after buying an additional 215,655 shares during the period. 67.00% of the stock is owned by institutional investors.

Tyson Foods Stock Up 2.0%

TSN stock opened at $58.40 on Thursday. The firm’s 50-day moving average is $61.77 and its two-hundred day moving average is $61.84. The company has a market capitalization of $20.57 billion, a price-to-earnings ratio of 45.99, a price-to-earnings-growth ratio of 1.16 and a beta of 0.40. Tyson Foods, Inc. has a 52 week low of $50.56 and a 52 week high of $69.48. The company has a current ratio of 1.83, a quick ratio of 0.70 and a debt-to-equity ratio of 0.44.

Tyson Foods (NYSE:TSN) last posted its quarterly earnings data on Monday, May 4th. The company reported $0.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.76 by $0.11. Tyson Foods had a net margin of 0.81% and a return on equity of 7.59%. The business had revenue of $13.65 billion during the quarter, compared to analysts’ expectations of $13.63 billion. During the same period last year, the firm posted $0.92 earnings per share. The business’s revenue was up 4.4% on a year-over-year basis. On average, analysts forecast that Tyson Foods, Inc. will post 4.16 earnings per share for the current fiscal year.

Tyson Foods Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st will be paid a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date of this dividend is Tuesday, September 1st. Tyson Foods’s dividend payout ratio (DPR) is presently 160.63%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. BMO Capital Markets reiterated an “outperform” rating on shares of Tyson Foods in a research note on Tuesday, May 5th. JPMorgan Chase & Co. dropped their price objective on shares of Tyson Foods from $67.00 to $65.00 and set a “neutral” rating on the stock in a report on Tuesday, March 24th. Piper Sandler reiterated an “overweight” rating and issued a $78.00 price objective (down from $80.00) on shares of Tyson Foods in a research report on Thursday, June 18th. Mizuho assumed coverage on shares of Tyson Foods in a research note on Thursday, March 26th. They set an “outperform” rating and a $72.00 target price for the company. Finally, Wall Street Zen cut shares of Tyson Foods from a “buy” rating to a “hold” rating in a research report on Saturday, June 20th. Four investment analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. According to MarketBeat.com, Tyson Foods has a consensus rating of “Hold” and an average price target of $68.20.

About Tyson Foods

Tyson Foods, Inc (NYSE: TSN) is a multinational food company primarily engaged in the production, processing and marketing of protein-based and prepared food products. Founded in 1935 and headquartered in Springdale, Arkansas, the company is one of the world’s largest processors of chicken, beef and pork. Its operations span live animal procurement and farming relationships through slaughter, further processing and distribution, supplying raw protein and value-added prepared foods to retail, foodservice and industrial customers.

The company’s product portfolio covers fresh and frozen meats, branded and private-label prepared foods, and a range of value-added items such as ready-to-eat and ready-to-cook meals, snack and sandwich meats.