Truist Financial Corp Sells 6,882 Shares of Tyson Foods, Inc. (NYSE:TSN)

Posted by Defense World Staff on Aug 8th, 2023

Truist Financial Corp cut its stake in shares of Tyson Foods, Inc. (NYSE:TSN – Free Report) by 2.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 312,039 shares of the company’s stock after selling 6,882 shares during the period. Truist Financial Corp owned 0.09% of Tyson Foods worth $18,510,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Sunbelt Securities Inc. bought a new stake in shares of Tyson Foods during the fourth quarter valued at about $349,000. Toronto Dominion Bank grew its holdings in shares of Tyson Foods by 5.5% during the fourth quarter. Toronto Dominion Bank now owns 158,730 shares of the company’s stock worth $9,875,000 after purchasing an additional 8,221 shares in the last quarter. Qsemble Capital Management LP purchased a new position in shares of Tyson Foods during the fourth quarter worth about $461,000. CENTRAL TRUST Co grew its holdings in shares of Tyson Foods by 14.1% during the first quarter. CENTRAL TRUST Co now owns 15,651 shares of the company’s stock worth $928,000 after purchasing an additional 1,931 shares in the last quarter. Finally, Laffer Tengler Investments grew its holdings in shares of Tyson Foods by 7,777.8% during the fourth quarter. Laffer Tengler Investments now owns 2,127 shares of the company’s stock worth $132,000 after purchasing an additional 2,100 shares in the last quarter. 64.09% of the stock is currently owned by institutional investors.

Tyson Foods Stock Performance

NYSE:TSN opened at $54.30 on Tuesday. The firm has a market cap of $19.31 billion, a PE ratio of 13.02 and a beta of 0.78. Tyson Foods, Inc. has a fifty-two week low of $47.11 and a fifty-two week high of $83.08. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.63 and a current ratio of 1.66. The business has a 50 day moving average price of $51.96 and a 200-day moving average price of $56.51.

Tyson Foods (NYSE:TSN – Get Free Report) last released its quarterly earnings data on Monday, August 7th. The company reported $0.15 earnings per share for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.11). The company had revenue of $13.14 billion for the quarter, compared to analysts’ expectations of $13.63 billion. Tyson Foods had a net margin of 2.81% and a return on equity of 8.04%. The business’s revenue for the quarter was down 2.6% compared to the same quarter last year. During the same period last year, the company posted $1.94 EPS. Equities research analysts predict that Tyson Foods, Inc. will post 1.46 earnings per share for the current year.

Tyson Foods Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Friday, September 1st will be issued a dividend of $0.48 per share. The ex-dividend date is Thursday, August 31st. This represents a $1.92 dividend on an annualized basis and a dividend yield of 3.54%. Tyson Foods’s dividend payout ratio is presently 46.04%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Sanford C. Bernstein cut their price objective on Tyson Foods from $75.00 to $64.00 in a report on Tuesday, May 9th. The Goldman Sachs Group cut their price objective on Tyson Foods from $66.00 to $64.00 and set a “neutral” rating for the company in a report on Thursday, April 20th. Piper Sandler cut their target price on Tyson Foods from $62.00 to $49.00 in a research note on Tuesday, May 9th. Barclays cut their target price on Tyson Foods from $52.00 to $50.00 in a research note on Thursday, June 1st. Finally, BMO Capital Markets cut their target price on Tyson Foods from $66.00 to $48.00 in a research note on Tuesday, May 9th. Three analysts have rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, Tyson Foods has a consensus rating of “Hold” and an average target price of $59.89.

Read Our Latest Stock Report on TSN

Insider Activity at Tyson Foods

In other Tyson Foods news, CEO Donnie King bought 10,350 shares of the firm’s stock in a transaction that occurred on Thursday, May 11th. The stock was bought at an average price 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 in the company, valued at $9,451,361.30. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Kevin M. Mcnamara acquired 20,500 shares of the firm’s stock in a transaction on Friday, May 12th. The stock was acquired at an average price of $48.92 per share, for a total transaction of $1,002,860.00. Following the completion of the acquisition, the director now owns 115,670 shares in the company, valued at $5,658,576.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Donnie King acquired 10,350 shares of the firm’s stock in a transaction on Thursday, May 11th. The stock was purchased at an average price of $48.35 per share, with a total value of $500,422.50. Following the acquisition, the chief executive officer now owns 195,478 shares of the company’s stock, valued at approximately $9,451,361.30. The disclosure for this purchase can be found here. Insiders acquired a total of 35,850 shares of company stock worth $1,749,383 over the last quarter. 1.96% of the stock is owned by corporate insiders.

Tyson Foods Company Profile

(Free Report)

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.