Sumitomo Life Insurance Co. Sells 176 Shares of Tyson Foods, Inc. (NYSE:TSN)

Posted by on Mar 26th, 2023

Sumitomo Life Insurance Co. lessened its position in Tyson Foods, Inc. (NYSE:TSN – Get Rating) by 1.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,340 shares of the company’s stock after selling 176 shares during the period. Sumitomo Life Insurance Co.’s holdings in Tyson Foods were worth $706,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. GHP Investment Advisors Inc. boosted its holdings in shares of Tyson Foods by 79.7% during the 3rd quarter. GHP Investment Advisors Inc. now owns 372 shares of the company’s stock worth $25,000 after buying an additional 165 shares during the period. CI Investments Inc. boosted its holdings in shares of Tyson Foods by 1,002.9% during the 3rd quarter. CI Investments Inc. now owns 386 shares of the company’s stock worth $25,000 after buying an additional 351 shares during the period. Cowa LLC bought a new stake in shares of Tyson Foods during the 3rd quarter worth about $31,000. Guardian Wealth Advisors LLC bought a new stake in shares of Tyson Foods during the 3rd quarter worth about $31,000. Finally, Accurate Wealth Management LLC bought a new stake in shares of Tyson Foods during the 4th quarter worth about $35,000. Institutional investors own 66.64% of the company’s stock.

Analyst Ratings Changes

Several analysts have weighed in on the stock. Piper Sandler dropped their price objective on shares of Tyson Foods from $68.00 to $65.00 and set a “neutral” rating for the company in a research note on Wednesday, February 1st. Credit Suisse Group dropped their price objective on shares of Tyson Foods from $75.00 to $58.00 and set a “neutral” rating for the company in a research note on Tuesday, February 7th. Barclays cut shares of Tyson Foods from an “equal weight” rating to an “underweight” rating and dropped their price objective for the stock from $89.00 to $58.00 in a research note on Monday, November 28th. The Goldman Sachs Group cut shares of Tyson Foods from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $91.00 to $66.00 in a research note on Monday, February 6th. Finally, StockNews.com assumed coverage on shares of Tyson Foods in a research report on Thursday, March 16th. They issued a “hold” rating for the company. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $68.00.

Tyson Foods Trading Up 1.7 %

Shares of Tyson Foods stock opened at $57.06 on Friday. The firm has a market capitalization of $20.29 billion, a PE ratio of 8.48 and a beta of 0.75. The company has a current ratio of 1.75, a quick ratio of 0.66 and a debt-to-equity ratio of 0.40. The firm’s 50 day moving average is $61.11 and its 200 day moving average is $64.43. Tyson Foods, Inc. has a 1 year low of $55.81 and a 1 year high of $99.54.

Tyson Foods (NYSE:TSN – Get Rating) last announced its quarterly earnings results on Monday, February 6th. The company reported $0.85 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.35 by ($0.50). The company had revenue of $13.26 billion for the quarter, compared to the consensus estimate of $13.51 billion. Tyson Foods had a net margin of 4.54% and a return on equity of 12.41%. The company’s revenue for the quarter was up 2.5% compared to the same quarter last year. During the same period last year, the firm posted $2.87 earnings per share. Equities research analysts forecast that Tyson Foods, Inc. will post 4.15 earnings per share for the current fiscal year.

Tyson Foods Announces Dividend

The business also recently declared 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. This represents a $1.92 annualized dividend and a dividend yield of 3.36%. The ex-dividend date of this dividend is Wednesday, May 31st. Tyson Foods’s dividend payout ratio (DPR) is presently 28.53%.

About Tyson Foods

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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.

Further Reading

Institutional Ownership by Quarter for Tyson Foods (NYSE:TSN)

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