M&G Investment Management Ltd. grew its holdings in Tyson Foods, Inc. (NYSE:TSN) by 16.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 111,859 shares of the company’s stock after purchasing an additional 16,192 shares during the quarter. M&G Investment Management Ltd.’s holdings in Tyson Foods were worth $8,278,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in TSN. Norges Bank purchased a new position in Tyson Foods in the 4th quarter worth approximately $188,179,000. Sanders Capital LLC lifted its stake in Tyson Foods by 359.9% in the 4th quarter. Sanders Capital LLC now owns 2,372,425 shares of the company’s stock worth $162,412,000 after purchasing an additional 1,856,574 shares in the last quarter. Victory Capital Management Inc. increased its holdings in shares of Tyson Foods by 24.4% during the 1st quarter. Victory Capital Management Inc. now owns 5,328,506 shares of the company’s stock worth $395,908,000 after buying an additional 1,044,683 shares during the last quarter. Principal Financial Group Inc. increased its holdings in shares of Tyson Foods by 37.3% during the 4th quarter. Principal Financial Group Inc. now owns 3,656,806 shares of the company’s stock worth $235,644,000 after buying an additional 993,113 shares during the last quarter. Finally, BlackRock Inc. increased its holdings in shares of Tyson Foods by 4.5% during the 1st quarter. BlackRock Inc. now owns 21,335,932 shares of the company’s stock worth $1,585,259,000 after buying an additional 913,437 shares during the last quarter. 64.42% of the stock is currently owned by institutional investors and hedge funds.
In related news, insider Shane Miller sold 5,000 shares of the company’s stock in a transaction that occurred on Thursday, March 18th. The shares were sold at an average price of $77.00, for a total transaction of $385,000.00. Following the transaction, the insider now owns 12,934 shares of the company’s stock, valued at $995,918. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.82% of the company’s stock.
Tyson Foods (NYSE:TSN) last announced its quarterly earnings results on Monday, May 10th. The company reported $1.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.11 by $0.23. Tyson Foods had a net margin of 5.00% and a return on equity of 15.26%. The company had revenue of $11.30 billion for the quarter, compared to the consensus estimate of $11.14 billion. During the same quarter in the prior year, the firm earned $0.77 earnings per share. The company’s revenue for the quarter was up 3.8% compared to the same quarter last year. Sell-side analysts predict that Tyson Foods, Inc. will post 6.1 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 15th. Investors of record on Wednesday, September 1st will be paid a dividend of $0.445 per share. This represents a $1.78 annualized dividend and a dividend yield of 2.31%. The ex-dividend date is Tuesday, August 31st. Tyson Foods’s payout ratio is 31.56%.
A number of brokerages have recently issued reports on TSN. Argus upgraded shares of Tyson Foods from a “hold” rating to a “buy” rating and set a $92.00 price target for the company in a report on Wednesday, May 19th. Barclays boosted their price target on shares of Tyson Foods from $83.00 to $89.00 and gave the company an “overweight” rating in a research report on Thursday, May 13th. Stephens boosted their price target on shares of Tyson Foods from $80.00 to $90.00 and gave the company an “overweight” rating in a research report on Friday, April 9th. Piper Sandler lifted their price objective on shares of Tyson Foods from $77.00 to $79.00 and gave the company a “neutral” rating in a research note on Monday, May 17th. Finally, BMO Capital Markets lifted their price objective on shares of Tyson Foods from $78.00 to $84.00 and gave the company an “outperform” rating in a research note on Tuesday, May 11th. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $82.71.
Tyson Foods Company 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; and supplies poultry breeding stock; sells specialty products , such as hides and meats.
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