Resona Asset Management Co. Ltd. Acquires 7,369 Shares of Tyson Foods, Inc. $TSN

Resona Asset Management Co. Ltd. increased its holdings in shares of Tyson Foods, Inc. (NYSE:TSN) by 5.2% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 148,060 shares of the company’s stock after purchasing an additional 7,369 shares during the quarter. Resona Asset Management Co. Ltd.’s holdings in Tyson Foods were worth $8,273,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the stock. OneDigital Investment Advisors LLC bought a new stake in shares of Tyson Foods during the first quarter worth $206,000. Envestnet Asset Management Inc. increased its holdings in Tyson Foods by 68.8% during the 1st quarter. Envestnet Asset Management Inc. now owns 458,153 shares of the company’s stock worth $29,235,000 after purchasing an additional 186,701 shares in the last quarter. Allworth Financial LP raised its stake in shares of Tyson Foods by 12.6% in the 1st quarter. Allworth Financial LP now owns 1,705 shares of the company’s stock valued at $105,000 after purchasing an additional 191 shares during the period. Cerity Partners LLC raised its stake in shares of Tyson Foods by 78.2% in the 1st quarter. Cerity Partners LLC now owns 37,488 shares of the company’s stock valued at $2,392,000 after purchasing an additional 16,455 shares during the period. Finally, Xponance Inc. lifted its holdings in shares of Tyson Foods by 117.3% in the first quarter. Xponance Inc. now owns 147,078 shares of the company’s stock valued at $9,385,000 after purchasing an additional 79,386 shares in the last quarter. 67.00% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on TSN. BMO Capital Markets dropped their target price on Tyson Foods from $62.00 to $58.00 and set a “market perform” rating on the stock in a research report on Monday, July 28th. Zacks Research raised shares of Tyson Foods from a “strong sell” rating to a “hold” rating in a research note on Thursday, October 30th. Santander started coverage on shares of Tyson Foods in a research report on Thursday, September 25th. They issued a “neutral” rating on the stock. Sanford C. Bernstein downgraded shares of Tyson Foods from an “outperform” rating to a “market perform” rating and decreased their target price for the company from $74.00 to $59.00 in a research report on Wednesday, July 23rd. Finally, Stephens lowered their price target on shares of Tyson Foods from $61.00 to $55.00 in a research note on Tuesday, July 15th. Two research analysts have rated the stock with a Buy rating and fifteen have issued a Hold rating to the company. Based on data from MarketBeat.com, Tyson Foods has a consensus rating of “Hold” and a consensus price target of $60.92.

Tyson Foods Stock Performance

Shares of TSN stock opened at $52.85 on Friday. Tyson Foods, Inc. has a 52 week low of $50.56 and a 52 week high of $65.95. The company has a market capitalization of $18.80 billion, a price-to-earnings ratio of 24.02, a PEG ratio of 0.85 and a beta of 0.56. The company has a 50-day simple moving average of $53.57 and a 200 day simple moving average of $55.09. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.78 and a current ratio of 1.73.

Tyson Foods declared that its Board of Directors has authorized a share buyback program on Thursday, August 7th that permits the company to buyback 43,000,000 outstanding shares. This buyback authorization permits the company to buy shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its shares are undervalued.

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.