Sumitomo Mitsui Trust Holdings Inc. raised its stake in Tyson Foods, Inc. (NYSE:TSN – Free Report) by 7.5% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 925,519 shares of the company’s stock after purchasing an additional 64,393 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc. owned about 0.26% of Tyson Foods worth $54,902,000 at the end of the most recent quarter.
A number of other hedge funds also recently made changes to their positions in the stock. Vanguard Group Inc. lifted its holdings in shares of Tyson Foods by 6.4% during the 1st quarter. Vanguard Group Inc. now owns 37,179,555 shares of the company’s stock valued at $3,332,404,000 after acquiring an additional 2,239,235 shares in the last quarter. State Street Corp lifted its holdings in shares of Tyson Foods by 1.8% during the 1st quarter. State Street Corp now owns 14,557,461 shares of the company’s stock valued at $1,304,785,000 after acquiring an additional 264,159 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Tyson Foods by 10.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 6,355,049 shares of the company’s stock valued at $395,602,000 after acquiring an additional 603,829 shares in the last quarter. Victory Capital Management Inc. lifted its holdings in shares of Tyson Foods by 8.8% during the 4th quarter. Victory Capital Management Inc. now owns 5,653,232 shares of the company’s stock valued at $351,914,000 after acquiring an additional 454,957 shares in the last quarter. Finally, Invesco Ltd. lifted its holdings in shares of Tyson Foods by 33.3% during the 1st quarter. Invesco Ltd. now owns 3,653,878 shares of the company’s stock valued at $327,497,000 after acquiring an additional 912,421 shares in the last quarter. Institutional investors and hedge funds own 64.09% of the company’s stock.
Tyson Foods Price Performance
TSN opened at $51.49 on Wednesday. The company has a 50-day moving average of $50.77 and a 200-day moving average of $57.43. The company has a market capitalization of $18.31 billion, a P/E ratio of 12.35 and a beta of 0.75. Tyson Foods, Inc. has a 1-year low of $47.11 and a 1-year high of $88.76. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.63 and a current ratio of 1.66.
Tyson Foods Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Friday, September 1st will be given a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 3.73%. The ex-dividend date of this dividend is Thursday, August 31st. Tyson Foods’s dividend payout ratio is presently 46.04%.
Analysts Set New Price Targets
Several research firms recently weighed in on TSN. BMO Capital Markets reduced their target price on shares of Tyson Foods from $66.00 to $48.00 in a report on Tuesday, May 9th. Sanford C. Bernstein cut their price objective on shares of Tyson Foods from $75.00 to $64.00 in a report on Tuesday, May 9th. Piper Sandler cut their price objective on shares of Tyson Foods from $62.00 to $49.00 in a report on Tuesday, May 9th. Barclays cut their price objective on shares of Tyson Foods from $52.00 to $50.00 in a report on Thursday, June 1st. Finally, Bank of America cut their price objective on shares of Tyson Foods from $56.00 to $48.00 in a report on Tuesday, May 9th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $59.89.
Insider Activity at Tyson Foods
In other Tyson Foods news, insider Brady J. Stewart acquired 2,040 shares of the stock in a transaction that occurred 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 transaction, the insider now directly owns 57,478 shares in the company, valued at $2,810,099.42. The acquisition was disclosed in a document filed with the SEC, which is available through this link. In other Tyson Foods news, Director Kevin M. Mcnamara acquired 20,500 shares of the stock in a transaction that occurred on Friday, May 12th. The stock was acquired at an average price of $48.92 per share, with a total value of $1,002,860.00. Following the transaction, the director now directly owns 115,670 shares in the company, valued at $5,658,576.40. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, insider Brady J. Stewart acquired 2,040 shares of the stock in a transaction that occurred on Tuesday, May 9th. The shares were acquired at an average cost of $48.89 per share, with a total value of $99,735.60. Following the transaction, the insider now owns 57,478 shares in the company, valued at $2,810,099.42. The disclosure for this purchase can be found here. Insiders acquired a total of 37,890 shares of company stock valued at $1,849,118 in the last quarter. Insiders own 1.96% of the company’s stock.
Tyson Foods Profile
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.
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