DAVENPORT & Co LLC Reduces Stake in Tyson Foods, Inc. $TSN

DAVENPORT & Co LLC cut its stake in Tyson Foods, Inc. (NYSE:TSN) by 31.1% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 23,011 shares of the company’s stock after selling 10,408 shares during the quarter. DAVENPORT & Co LLC’s holdings in Tyson Foods were worth $1,317,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Empowered Funds LLC grew its holdings in shares of Tyson Foods by 15.6% in the first quarter. Empowered Funds LLC now owns 28,076 shares of the company’s stock valued at $1,792,000 after purchasing an additional 3,788 shares during the period. Woodline Partners LP increased its position in Tyson Foods by 40.8% during the first quarter. Woodline Partners LP now owns 24,178 shares of the company’s stock worth $1,543,000 after purchasing an additional 7,011 shares during the last quarter. Focus Partners Wealth raised its stake in Tyson Foods by 84.0% during the first quarter. Focus Partners Wealth now owns 12,597 shares of the company’s stock worth $804,000 after purchasing an additional 5,749 shares during the period. Sivia Capital Partners LLC boosted its holdings in Tyson Foods by 100.3% in the 2nd quarter. Sivia Capital Partners LLC now owns 7,393 shares of the company’s stock valued at $414,000 after purchasing an additional 3,702 shares during the last quarter. Finally, Cerity Partners LLC boosted its holdings in Tyson Foods by 129.2% in the 2nd quarter. Cerity Partners LLC now owns 85,939 shares of the company’s stock valued at $4,807,000 after purchasing an additional 48,451 shares during the last quarter. Institutional investors and hedge funds own 67.00% of the company’s stock.

Tyson Foods Stock Down 1.0%

Shares of NYSE TSN opened at $55.87 on Thursday. The stock has a market cap of $19.66 billion, a P/E ratio of 34.49, a PEG ratio of 1.21 and a beta of 0.40. The business’s fifty day simple moving average is $57.78 and its 200-day simple moving average is $61.73. Tyson Foods, Inc. has a 12-month low of $50.56 and a 12-month high of $69.48. The company has a current ratio of 1.43, a quick ratio of 0.55 and a debt-to-equity ratio of 0.36.

Tyson Foods (NYSE:TSN) last released its earnings results on Monday, August 3rd. The company reported $0.99 EPS for the quarter, hitting the consensus estimate of $0.99. The firm had revenue of $13.87 billion during the quarter, compared to analysts’ expectations of $14.07 billion. Tyson Foods had a return on equity of 7.77% and a net margin of 1.03%.Tyson Foods’s revenue for the quarter was down .1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.91 EPS. As a group, equities analysts predict that Tyson Foods, Inc. will post 3.95 EPS for the current fiscal year.

Tyson Foods Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 15th. Stockholders of record on Tuesday, December 1st will be given a dividend of $0.51 per share. The ex-dividend date of this dividend is Tuesday, December 1st. This represents a $2.04 dividend on an annualized basis and a dividend yield of 3.7%. Tyson Foods’s payout ratio is currently 125.93%.

Analyst Ratings Changes

A number of analysts have recently issued reports on TSN shares. Sanford C. Bernstein cut their price target on shares of Tyson Foods from $72.00 to $63.00 and set a “market perform” rating for the company in a report on Thursday, July 2nd. BMO Capital Markets reiterated an “outperform” rating on shares of Tyson Foods in a report on Tuesday, May 5th. Zacks Research lowered Tyson Foods from a “hold” rating to a “strong sell” rating in a research report on Thursday, August 6th. Piper Sandler reissued an “overweight” rating and set a $78.00 target price (down from $80.00) on shares of Tyson Foods in a research note on Thursday, June 18th. Finally, Bank of America reduced their target price on Tyson Foods from $70.00 to $68.00 and set a “neutral” rating on the stock in a research report on Thursday, July 2nd. Four analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $70.67.

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.