Legal & General Group Plc Cuts Stock Position in Tyson Foods, Inc. $TSN

Legal & General Group Plc lessened its stake in Tyson Foods, Inc. (NYSE:TSN) by 2.6% in the 4th quarter, Holdings Channel.com reports. The fund owned 1,602,734 shares of the company’s stock after selling 43,330 shares during the quarter. Legal & General Group Plc’s holdings in Tyson Foods were worth $93,952,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Hantz Financial Services Inc. grew its holdings in shares of Tyson Foods by 30.8% during the fourth quarter. Hantz Financial Services Inc. now owns 976 shares of the company’s stock worth $57,000 after buying an additional 230 shares in the last quarter. Lathrop Investment Management Co. grew its holdings in shares of Tyson Foods by 7.8% during the fourth quarter. Lathrop Investment Management Co. now owns 9,592 shares of the company’s stock worth $562,000 after buying an additional 690 shares in the last quarter. Coldstream Capital Management Inc. grew its holdings in shares of Tyson Foods by 55.9% during the fourth quarter. Coldstream Capital Management Inc. now owns 6,903 shares of the company’s stock worth $405,000 after buying an additional 2,475 shares in the last quarter. Life Cycle Investment Partners Ltd purchased a new stake in shares of Tyson Foods during the fourth quarter worth $165,220,000. Finally, EverSource Wealth Advisors LLC grew its holdings in shares of Tyson Foods by 12.5% during the fourth quarter. EverSource Wealth Advisors LLC now owns 11,479 shares of the company’s stock worth $673,000 after buying an additional 1,276 shares in the last quarter. 67.00% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

TSN has been the subject of a number of research reports. Barclays upped their target price on shares of Tyson Foods from $75.00 to $78.00 and gave the stock an “overweight” rating in a report on Tuesday, February 3rd. Weiss Ratings raised shares of Tyson Foods from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, May 22nd. Argus raised shares of Tyson Foods to a “hold” rating in a report on Friday, February 6th. Wall Street Zen raised shares of Tyson Foods from a “hold” rating to a “buy” rating in a report on Saturday, May 9th. Finally, Mizuho initiated coverage on shares of Tyson Foods in a report on Thursday, March 26th. They set an “outperform” rating and a $72.00 target price for the company. Five research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $68.27.

Tyson Foods Stock Down 6.1%

Shares of TSN opened at $62.01 on Friday. The stock has a market capitalization of $21.83 billion, a PE ratio of 48.82, a P/E/G ratio of 1.36 and a beta of 0.40. Tyson Foods, Inc. has a 1 year low of $50.56 and a 1 year high of $69.48. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.70 and a current ratio of 1.83. The company’s 50-day simple moving average is $64.55 and its 200-day simple moving average is $61.57.

Tyson Foods (NYSE:TSN) last issued its quarterly earnings results on Monday, May 4th. The company reported $0.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.76 by $0.11. The business had revenue of $13.65 billion for the quarter, compared to analysts’ expectations of $13.63 billion. Tyson Foods had a net margin of 0.81% and a return on equity of 7.59%. The business’s quarterly revenue was up 4.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.92 earnings per share. Analysts forecast that Tyson Foods, Inc. will post 4.1 earnings per share for the current fiscal year.

Tyson Foods Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st will be given a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a dividend yield of 3.3%. The ex-dividend date of this dividend is Tuesday, September 1st. Tyson Foods’s dividend payout ratio is currently 160.63%.

Tyson Foods Company Profile

Tyson Foods, Inc (NYSE: TSN) is a multinational food company primarily engaged in the production, processing and marketing of protein-based and prepared food products. Founded in 1935 and headquartered in Springdale, Arkansas, the company is one of the world’s largest processors of chicken, beef and pork. Its operations span live animal procurement and farming relationships through slaughter, further processing and distribution, supplying raw protein and value-added prepared foods to retail, foodservice and industrial customers.

The company’s product portfolio covers fresh and frozen meats, branded and private-label prepared foods, and a range of value-added items such as ready-to-eat and ready-to-cook meals, snack and sandwich meats.