Principal Financial Group Inc. Cuts Stake in Tyson Foods, Inc. $TSN

Principal Financial Group Inc. cut its holdings in shares of Tyson Foods, Inc. (NYSE:TSN) by 3.5% during the first quarter, HoldingsChannel.com reports. The firm owned 343,977 shares of the company’s stock after selling 12,652 shares during the period. Principal Financial Group Inc.’s holdings in Tyson Foods were worth $22,039,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. City Holding Co. purchased a new position in Tyson Foods during the 4th quarter worth $29,000. Cary Street Partners Investment Advisory LLC raised its stake in Tyson Foods by 62.3% in the fourth quarter. Cary Street Partners Investment Advisory LLC now owns 516 shares of the company’s stock valued at $30,000 after buying an additional 198 shares during the last quarter. Ascentis Independent Advisors purchased a new stake in shares of Tyson Foods during the first quarter worth about $30,000. Cedar Mountain Advisors LLC raised its position in shares of Tyson Foods by 293.5% in the 1st quarter. Cedar Mountain Advisors LLC now owns 488 shares of the company’s stock valued at $31,000 after purchasing an additional 364 shares during the last quarter. Finally, Activest Wealth Management raised its holdings in shares of Tyson Foods by 3,842.9% in the fourth quarter. Activest Wealth Management now owns 552 shares of the company’s stock worth $32,000 after buying an additional 538 shares during the last quarter. Hedge funds and other institutional investors own 67.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. Stephens upped their target price on Tyson Foods from $65.00 to $70.00 and gave the company an “equal weight” rating in a research report on Tuesday, May 5th. Weiss Ratings lowered Tyson Foods from a “hold (c+)” rating to a “hold (c)” rating in a research note on Thursday, July 9th. Piper Sandler restated an “overweight” rating and issued a $78.00 target price (down from $80.00) on shares of Tyson Foods in a report on Thursday, June 18th. Sanford C. Bernstein cut their target price on Tyson Foods from $72.00 to $63.00 and set a “market perform” rating for the company in a research note on Thursday, July 2nd. Finally, Bank of America reduced their price target on Tyson Foods from $70.00 to $68.00 and set a “neutral” rating on the stock in a report on Thursday, July 2nd. Four research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $69.56.

Tyson Foods Stock Down 1.7%

Shares of NYSE TSN opened at $57.01 on Wednesday. The company has a market capitalization of $20.07 billion, a P/E ratio of 44.89, a P/E/G ratio of 1.19 and a beta of 0.40. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.83 and a quick ratio of 0.70. The company has a 50 day simple moving average of $59.60 and a 200-day simple moving average of $61.78. Tyson Foods, Inc. has a 1 year low of $50.56 and a 1 year high of $69.48.

Tyson Foods (NYSE:TSN) last released its quarterly earnings data on Monday, May 4th. The company reported $0.87 EPS for the quarter, beating analysts’ consensus estimates of $0.76 by $0.11. The firm had revenue of $13.65 billion for the quarter, compared to analysts’ expectations of $13.63 billion. Tyson Foods had a return on equity of 7.59% and a net margin of 0.81%.The firm’s quarterly revenue was up 4.4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.92 earnings per share. On average, equities research analysts predict that Tyson Foods, Inc. will post 4.12 earnings per share for the current year.

Tyson Foods Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st will be given a $0.51 dividend. The ex-dividend date is Tuesday, September 1st. This represents a $2.04 dividend on an annualized basis and a yield of 3.6%. Tyson Foods’s payout ratio is currently 160.63%.

Tyson Foods Profile

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.