Cibc World Markets Corp Sells 15,957 Shares of Tyson Foods, Inc. (NYSE:TSN)

Posted by Defense World Staff on Feb 27th, 2023

Cibc World Markets Corp lessened its holdings in shares of Tyson Foods, Inc. (NYSE:TSN – Get Rating) by 78.4% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 4,395 shares of the company’s stock after selling 15,957 shares during the period. Cibc World Markets Corp’s holdings in Tyson Foods were worth $290,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the business. Vanguard Group Inc. grew its holdings in shares of Tyson Foods by 6.4% during the first quarter. Vanguard Group Inc. now owns 37,179,555 shares of the company’s stock worth $3,332,404,000 after purchasing an additional 2,239,235 shares during the last quarter. State Street Corp grew its holdings in shares of Tyson Foods by 1.8% during the first quarter. State Street Corp now owns 14,557,461 shares of the company’s stock worth $1,304,785,000 after purchasing an additional 264,159 shares during the last quarter. Northern Trust Corp grew its holdings in shares of Tyson Foods by 1.9% during the second quarter. Northern Trust Corp now owns 5,217,416 shares of the company’s stock worth $449,012,000 after purchasing an additional 97,761 shares during the last quarter. Victory Capital Management Inc. grew its holdings in shares of Tyson Foods by 11.8% during the third quarter. Victory Capital Management Inc. now owns 5,198,275 shares of the company’s stock worth $342,723,000 after purchasing an additional 549,088 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Tyson Foods by 7.4% during the first quarter. Charles Schwab Investment Management Inc. now owns 5,015,192 shares of the company’s stock worth $449,512,000 after purchasing an additional 343,410 shares during the last quarter. Institutional investors own 66.64% of the company’s stock.

Tyson Foods Trading Down 1.8 %

NYSE TSN opened at $61.23 on Monday. The firm has a market cap of $21.78 billion, a P/E ratio of 9.10 and a beta of 0.73. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.75 and a quick ratio of 0.66. The stock’s 50-day moving average is $63.04 and its 200-day moving average is $67.22. Tyson Foods, Inc. has a one year low of $59.38 and a one year high of $99.54.

Tyson Foods (NYSE:TSN – Get Rating) last posted its quarterly earnings data on Monday, February 6th. The company reported $0.85 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.35 by ($0.50). The firm had revenue of $13.26 billion for the quarter, compared to the consensus estimate of $13.51 billion. Tyson Foods had a return on equity of 12.41% and a net margin of 4.54%. The firm’s quarterly revenue was up 2.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.87 earnings per share. Sell-side analysts anticipate that Tyson Foods, Inc. will post 4.52 earnings per share for the current fiscal year.

Tyson Foods Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 15th. Investors of record on Thursday, June 1st will be issued a dividend of $0.48 per share. The ex-dividend date of this dividend is Wednesday, May 31st. This represents a $1.92 dividend on an annualized basis and a dividend yield of 3.14%. Tyson Foods’s payout ratio is presently 28.53%.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on TSN. BMO Capital Markets decreased their price target on Tyson Foods from $90.00 to $75.00 and set a “market perform” rating on the stock in a report on Tuesday, November 15th. TheStreet cut Tyson Foods from a “b-” rating to a “c+” rating in a report on Thursday, December 22nd. Bank of America decreased their price target on Tyson Foods from $62.00 to $56.00 and set an “underperform” rating on the stock in a report on Tuesday, February 7th. The Goldman Sachs Group cut Tyson Foods from a “buy” rating to a “neutral” rating and decreased their price target for the company from $91.00 to $66.00 in a report on Monday, February 6th. Finally, Barclays cut Tyson Foods from an “equal weight” rating to an “underweight” rating and decreased their price target for the company from $89.00 to $58.00 in a report on Monday, November 28th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $68.00.

Insider Buying and Selling

In related news, insider Shane Miller sold 5,000 shares of the stock in a transaction dated Monday, December 5th. The stock was sold at an average price of $64.44, for a total transaction of $322,200.00. Following the completion of the transaction, the insider now directly owns 30,921 shares in the company, valued at $1,992,549.24. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 1.96% of the stock is owned by corporate insiders.

Tyson Foods Company Profile

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Tyson Foods, Inc engages in the production of frozen and refrigerated food products. It operates through the following segments: Beef, Pork, Chicken, and Prepared Foods. The Beef segment includes processing live fed cattle and fabricating dressed beef carcasses into primal and sub-primal meat cuts and case-ready products.