The Manufacturers Life Insurance Company Has $19.44 Million Stake in Tyson Foods, Inc. (NYSE:TSN)

Posted by Defense World Staff on Jun 9th, 2023

The Manufacturers Life Insurance Company increased its stake in Tyson Foods, Inc. (NYSE:TSN – Get Rating) by 5.1% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 312,283 shares of the company’s stock after purchasing an additional 15,052 shares during the quarter. The Manufacturers Life Insurance Company owned approximately 0.09% of Tyson Foods worth $19,440,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in TSN. Cantor Fitzgerald Investment Advisor L.P lifted its holdings in Tyson Foods by 94.9% in the 1st quarter. Cantor Fitzgerald Investment Advisor L.P now owns 317,286 shares of the company’s stock worth $28,439,000 after purchasing an additional 154,507 shares during the last quarter. Markel Corp increased its position in Tyson Foods by 2.1% in the 1st quarter. Markel Corp now owns 384,500 shares of the company’s stock worth $34,463,000 after buying an additional 8,000 shares during the period. Aviva PLC increased its position in Tyson Foods by 25.5% in the 1st quarter. Aviva PLC now owns 121,466 shares of the company’s stock worth $10,887,000 after buying an additional 24,669 shares during the period. Prudential PLC bought a new position in Tyson Foods in the 1st quarter worth approximately $747,000. Finally, Vanguard Group Inc. increased its position in Tyson Foods by 6.4% in the 1st quarter. Vanguard Group Inc. now owns 37,179,555 shares of the company’s stock worth $3,332,404,000 after buying an additional 2,239,235 shares during the period. 66.64% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Tyson Foods news, insider Brady J. Stewart purchased 2,040 shares of the stock in a transaction on Tuesday, May 9th. The stock was bought at an average cost of $48.89 per share, for a total transaction of $99,735.60. Following the completion of the acquisition, the insider now directly owns 57,478 shares of the company’s stock, valued at $2,810,099.42. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Tyson Foods news, CEO Donnie King purchased 10,350 shares of the stock in a transaction on Thursday, May 11th. The stock was bought at an average cost of $48.35 per share, for a total transaction of $500,422.50. Following the completion of the acquisition, the chief executive officer now directly owns 195,478 shares of the company’s stock, valued at $9,451,361.30. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Brady J. Stewart purchased 2,040 shares of the stock in a transaction on Tuesday, May 9th. The stock was acquired at an average price of $48.89 per share, with a total value of $99,735.60. Following the completion of the acquisition, the insider now directly owns 57,478 shares of the company’s stock, valued at $2,810,099.42. The disclosure for this purchase can be found here. Insiders acquired 37,890 shares of company stock worth $1,849,118 over the last ninety days. 1.96% of the stock is currently owned by corporate insiders.

Tyson Foods Trading Down 0.9 %

Shares of TSN opened at $50.86 on Friday. The company has a quick ratio of 0.63, a current ratio of 1.66 and a debt-to-equity ratio of 0.40. Tyson Foods, Inc. has a 12-month low of $47.11 and a 12-month high of $88.76. The firm has a market capitalization of $18.09 billion, a PE ratio of 12.20 and a beta of 0.76. The stock’s fifty day simple moving average is $55.85 and its 200-day simple moving average is $60.03.

Tyson Foods (NYSE:TSN – Get Rating) last released its quarterly earnings data on Monday, May 8th. The company reported ($0.04) EPS for the quarter, missing analysts’ consensus estimates of $0.80 by ($0.84). The company had revenue of $13.13 billion during the quarter, compared to the consensus estimate of $13.62 billion. Tyson Foods had a net margin of 2.81% and a return on equity of 8.04%. The company’s revenue for the quarter was up .1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.29 EPS. As a group, research analysts predict that Tyson Foods, Inc. will post 2.21 earnings per share for the current year.

Tyson Foods Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Friday, September 1st will be issued a $0.48 dividend. The ex-dividend date is Thursday, August 31st. This represents a $1.92 annualized dividend and a dividend yield of 3.78%. Tyson Foods’s dividend payout ratio (DPR) is currently 46.04%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on TSN shares. Piper Sandler lowered their price objective on Tyson Foods from $62.00 to $49.00 in a research report on Tuesday, May 9th. The Goldman Sachs Group lowered their price objective on Tyson Foods from $66.00 to $64.00 and set a “neutral” rating on the stock in a research report on Thursday, April 20th. BMO Capital Markets lowered their price objective on Tyson Foods from $66.00 to $48.00 in a research report on Tuesday, May 9th. Sanford C. Bernstein lowered their price objective on Tyson Foods from $75.00 to $64.00 in a research report on Tuesday, May 9th. Finally, Bank of America lowered their price objective on Tyson Foods from $56.00 to $48.00 in a research report on Tuesday, May 9th. Three analysts have rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $59.89.

About Tyson Foods

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Tyson Foods, Inc, together with its subsidiaries, operates as a food company worldwide. It operates through four segments: Beef, Pork, Chicken, and Prepared Foods. The company processes live fed cattle and live market hogs; fabricates dressed beef and pork carcasses into primal and sub-primal meat cuts, as well as case ready beef and pork, and fully cooked meats; raises and processes chickens into fresh, frozen, and value-added chicken products, including breaded chicken strips, nuggets, patties, and other ready-to-fix or fully cooked chicken parts; and supplies poultry breeding stock.