Tyson Foods, Inc. (NYSE:TSN) Shares Purchased by Summit Global Investments

Summit Global Investments boosted its stake in Tyson Foods, Inc. (NYSE:TSN) by 41.1% in the 4th quarter, Holdings Channel reports. The firm owned 73,829 shares of the company’s stock after buying an additional 21,489 shares during the quarter. Summit Global Investments’ holdings in Tyson Foods were worth $4,241,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. grew its stake in shares of Tyson Foods by 44.8% during the third quarter. JPMorgan Chase & Co. now owns 1,140,309 shares of the company’s stock valued at $67,917,000 after acquiring an additional 352,863 shares in the last quarter. Handelsbanken Fonder AB grew its stake in shares of Tyson Foods by 17.2% during the fourth quarter. Handelsbanken Fonder AB now owns 4,975 shares of the company’s stock valued at $286,000 after acquiring an additional 729 shares in the last quarter. Sound Income Strategies LLC grew its stake in shares of Tyson Foods by 14.0% during the fourth quarter. Sound Income Strategies LLC now owns 56,537 shares of the company’s stock valued at $3,248,000 after acquiring an additional 6,955 shares in the last quarter. Empowered Funds LLC grew its stake in shares of Tyson Foods by 289.9% during the fourth quarter. Empowered Funds LLC now owns 24,288 shares of the company’s stock valued at $1,395,000 after acquiring an additional 18,059 shares in the last quarter. Finally, Everence Capital Management Inc. acquired a new stake in shares of Tyson Foods during the fourth quarter valued at about $775,000. 67.00% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

TSN has been the subject of a number of research reports. UBS Group initiated coverage on Tyson Foods in a research note on Friday, January 10th. They issued a “neutral” rating and a $62.00 price target for the company. Citigroup decreased their target price on Tyson Foods from $63.00 to $61.00 and set a “neutral” rating for the company in a research note on Friday, January 31st. HSBC upgraded Tyson Foods from a “reduce” rating to a “hold” rating in a research note on Monday, February 3rd. Piper Sandler upgraded Tyson Foods from an “underweight” rating to a “neutral” rating and set a $58.00 target price for the company in a research note on Tuesday, February 4th. Finally, Barclays decreased their target price on Tyson Foods from $76.00 to $75.00 and set an “overweight” rating for the company in a research note on Tuesday, January 21st. Ten investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $61.10.

Tyson Foods Stock Performance

Shares of NYSE TSN opened at $60.46 on Friday. The company has a current ratio of 2.11, a quick ratio of 1.04 and a debt-to-equity ratio of 0.52. The stock has a 50 day simple moving average of $58.55 and a 200-day simple moving average of $59.77. The company has a market cap of $21.53 billion, a PE ratio of 20.42, a P/E/G ratio of 0.74 and a beta of 0.72. Tyson Foods, Inc. has a 12-month low of $53.61 and a 12-month high of $66.88.

Tyson Foods (NYSE:TSN) last announced its earnings results on Monday, February 3rd. The company reported $1.14 EPS for the quarter, topping the consensus estimate of $0.79 by $0.35. Tyson Foods had a return on equity of 6.87% and a net margin of 1.96%. The firm had revenue of $13.62 billion for the quarter, compared to analysts’ expectations of $13.46 billion. During the same quarter in the previous year, the company earned $0.69 earnings per share. The firm’s quarterly revenue was up 2.3% compared to the same quarter last year. On average, equities research analysts forecast that Tyson Foods, Inc. will post 3.8 EPS for the current year.

Tyson Foods Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Friday, May 30th will be issued a dividend of $0.50 per share. The ex-dividend date of this dividend is Friday, May 30th. This represents a $2.00 annualized dividend and a yield of 3.31%. Tyson Foods’s payout ratio is 67.57%.

About Tyson Foods

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 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.