Truist Financial Corp Cuts Stock Position in Tyson Foods, Inc. $TSN

Truist Financial Corp trimmed its stake in shares of Tyson Foods, Inc. (NYSE:TSN) by 29.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 32,760 shares of the company’s stock after selling 13,358 shares during the quarter. Truist Financial Corp’s holdings in Tyson Foods were worth $1,920,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Markel Group Inc. grew its stake in Tyson Foods by 4.0% during the 3rd quarter. Markel Group Inc. now owns 848,500 shares of the company’s stock worth $46,074,000 after purchasing an additional 32,500 shares in the last quarter. JPMorgan Chase & Co. grew its stake in Tyson Foods by 73.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,879,219 shares of the company’s stock worth $102,042,000 after purchasing an additional 795,710 shares in the last quarter. Inscription Capital LLC grew its stake in Tyson Foods by 262.9% during the 3rd quarter. Inscription Capital LLC now owns 26,964 shares of the company’s stock worth $1,464,000 after purchasing an additional 19,533 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in Tyson Foods by 61.0% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 74,609 shares of the company’s stock worth $4,045,000 after purchasing an additional 28,274 shares in the last quarter. Finally, Meiji Yasuda Asset Management Co Ltd. boosted its position in shares of Tyson Foods by 306.4% during the 3rd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 48,009 shares of the company’s stock worth $2,607,000 after acquiring an additional 36,197 shares in the last quarter. 67.00% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Wall Street Zen raised Tyson Foods from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. Argus raised Tyson Foods to a “hold” rating in a research report on Friday, February 6th. Barclays upped their price objective on Tyson Foods from $75.00 to $78.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 3rd. Sanford C. Bernstein reaffirmed a “market perform” rating and set a $69.00 price objective on shares of Tyson Foods in a research report on Tuesday, February 3rd. Finally, JPMorgan Chase & Co. lowered their price objective on Tyson Foods from $67.00 to $65.00 and set a “neutral” rating for the company in a research report on Tuesday, March 24th. Five equities research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $68.27.

Tyson Foods Trading Down 0.4%

NYSE:TSN opened at $66.64 on Friday. The stock has a 50-day simple moving average of $63.71 and a 200-day simple moving average of $60.61. The stock has a market cap of $23.47 billion, a P/E ratio of 52.47, a P/E/G ratio of 1.37 and a beta of 0.40. Tyson Foods, Inc. has a 1 year low of $50.56 and a 1 year high of $69.48. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.70 and a current ratio of 1.83.

Tyson Foods (NYSE:TSN) last announced its earnings results on Monday, May 4th. The company reported $0.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.76 by $0.11. The firm had revenue of $13.65 billion during 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 business’s revenue was up 4.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.92 EPS. As a group, analysts anticipate that Tyson Foods, Inc. will post 4.1 earnings per share for the current fiscal year.

Tyson Foods Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st will be given a $0.51 dividend. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $2.04 dividend on an annualized basis and a dividend yield of 3.1%. Tyson Foods’s dividend payout ratio is 160.63%.

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.