Allstate Corp Buys Shares of 8,627 Tyson Foods, Inc. (NYSE:TSN)

Allstate Corp purchased a new stake in shares of Tyson Foods, Inc. (NYSE:TSN) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 8,627 shares of the company’s stock, valued at approximately $496,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Riverview Trust Co raised its position in Tyson Foods by 3,423.1% in the fourth quarter. Riverview Trust Co now owns 458 shares of the company’s stock valued at $26,000 after purchasing an additional 445 shares during the period. Brooklyn Investment Group raised its holdings in shares of Tyson Foods by 2,478.3% in the 4th quarter. Brooklyn Investment Group now owns 593 shares of the company’s stock valued at $34,000 after buying an additional 570 shares during the period. SRS Capital Advisors Inc. lifted its stake in Tyson Foods by 58.6% during the 4th quarter. SRS Capital Advisors Inc. now owns 620 shares of the company’s stock worth $36,000 after acquiring an additional 229 shares in the last quarter. TCTC Holdings LLC boosted its holdings in Tyson Foods by 140.7% during the 4th quarter. TCTC Holdings LLC now owns 662 shares of the company’s stock valued at $38,000 after acquiring an additional 387 shares during the period. Finally, ST Germain D J Co. Inc. acquired a new position in Tyson Foods in the 4th quarter valued at about $42,000. 67.00% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the stock. Stephens raised their price objective on shares of Tyson Foods from $60.00 to $63.00 and gave the company an “equal weight” rating in a research note on Tuesday, February 4th. Citigroup dropped their price target on shares of Tyson Foods from $63.00 to $61.00 and set a “neutral” rating for the company in a research note on Friday, January 31st. Piper Sandler upgraded Tyson Foods from an “underweight” rating to a “neutral” rating and set a $58.00 price objective on the stock in a research note on Tuesday, February 4th. Barclays lowered 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. Finally, UBS Group initiated coverage on Tyson Foods in a research report on Friday, January 10th. They issued a “neutral” rating and a $62.00 price target on the stock. Ten equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $61.10.

Tyson Foods Price Performance

TSN stock opened at $63.07 on Wednesday. The business has a 50 day moving average price of $59.41 and a 200 day moving average price of $59.61. The company has a quick ratio of 1.04, a current ratio of 2.11 and a debt-to-equity ratio of 0.52. The stock has a market cap of $22.47 billion, a price-to-earnings ratio of 21.31, a PEG ratio of 0.74 and a beta of 0.72. Tyson Foods, Inc. has a fifty-two week low of $53.61 and a fifty-two week high of $66.88.

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

Tyson Foods Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Friday, May 30th will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.17%. The ex-dividend date of this dividend is Friday, May 30th. Tyson Foods’s dividend payout ratio (DPR) is currently 67.57%.

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 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.