DoubleLine ETF Adviser LP Buys New Holdings in Tyson Foods, Inc. $TSN

DoubleLine ETF Adviser LP purchased a new position in shares of Tyson Foods, Inc. (NYSE:TSN) in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 15,623 shares of the company’s stock, valued at approximately $848,000.

A number of other institutional investors have also recently bought and sold shares of TSN. Harbor Capital Advisors Inc. lifted its position in shares of Tyson Foods by 93.1% in the third quarter. Harbor Capital Advisors Inc. now owns 473 shares of the company’s stock valued at $26,000 after buying an additional 228 shares during the last quarter. Root Financial Partners LLC acquired a new position in shares of Tyson Foods during the 3rd quarter worth approximately $28,000. MTM Investment Management LLC acquired a new position in shares of Tyson Foods during the 2nd quarter worth approximately $36,000. Wilmington Savings Fund Society FSB raised its stake in Tyson Foods by 89.4% in the 3rd quarter. Wilmington Savings Fund Society FSB now owns 682 shares of the company’s stock valued at $37,000 after acquiring an additional 322 shares during the period. Finally, Caldwell Trust Co acquired a new stake in Tyson Foods during the 3rd quarter valued at $38,000. Institutional investors and hedge funds own 67.00% of the company’s stock.

Tyson Foods Price Performance

NYSE:TSN opened at $60.30 on Friday. Tyson Foods, Inc. has a 52 week low of $50.56 and a 52 week high of $66.41. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.66 and a current ratio of 1.53. The firm’s 50-day simple moving average is $62.27 and its 200 day simple moving average is $57.63. The firm has a market cap of $21.23 billion, a price-to-earnings ratio of 107.68, a P/E/G ratio of 1.33 and a beta of 0.47.

Tyson Foods (NYSE:TSN) last posted its quarterly earnings data on Monday, February 2nd. The company reported $0.97 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.01 by ($0.04). Tyson Foods had a net margin of 0.36% and a return on equity of 7.67%. The business had revenue of $14.31 billion during the quarter, compared to the consensus estimate of $14.11 billion. During the same period in the prior year, the firm earned $1.14 EPS. The business’s revenue for the quarter was up 5.1% on a year-over-year basis. As a group, sell-side analysts predict that Tyson Foods, Inc. will post 3.8 earnings per share for the current year.

Tyson Foods Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Monday, June 1st will be paid a $0.51 dividend. This represents a $2.04 annualized dividend and a dividend yield of 3.4%. The ex-dividend date is Monday, June 1st. Tyson Foods’s payout ratio is 364.29%.

Analysts Set New Price Targets

Several research firms have commented on TSN. Barclays upped their price objective on shares of Tyson Foods from $75.00 to $78.00 and gave the company an “overweight” rating in a report on Tuesday, February 3rd. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Tyson Foods in a report on Monday, December 29th. BMO Capital Markets upped their price target on shares of Tyson Foods from $67.00 to $73.00 and gave the company an “outperform” rating in a research note on Tuesday, February 3rd. Sanford C. Bernstein reissued a “market perform” rating and issued a $69.00 price target on shares of Tyson Foods in a report on Tuesday, February 3rd. Finally, Piper Sandler boosted their price objective on Tyson Foods from $58.00 to $61.00 and gave the stock a “neutral” rating in a report on Friday, December 12th. Three analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $64.27.

About Tyson Foods

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.