Panagora Asset Management Inc. Grows Holdings in Tyson Foods, Inc. $TSN

Panagora Asset Management Inc. increased its position in shares of Tyson Foods, Inc. (NYSE:TSN) by 69.3% during the 4th quarter, Holdings Channel reports. The firm owned 979,941 shares of the company’s stock after purchasing an additional 400,960 shares during the quarter. Panagora Asset Management Inc.’s holdings in Tyson Foods were worth $57,444,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. IFP Advisors Inc boosted its holdings in Tyson Foods by 10.3% during the fourth quarter. IFP Advisors Inc now owns 1,679 shares of the company’s stock worth $98,000 after purchasing an additional 157 shares during the last quarter. IFM Investors Pty Ltd boosted its holdings in Tyson Foods by 0.4% during the fourth quarter. IFM Investors Pty Ltd now owns 40,527 shares of the company’s stock worth $2,376,000 after purchasing an additional 159 shares during the last quarter. Deseret Mutual Benefit Administrators boosted its holdings in Tyson Foods by 4.4% during the fourth quarter. Deseret Mutual Benefit Administrators now owns 3,942 shares of the company’s stock worth $231,000 after purchasing an additional 166 shares during the last quarter. CIBC Private Wealth Group LLC boosted its holdings in Tyson Foods by 10.6% during the third quarter. CIBC Private Wealth Group LLC now owns 1,862 shares of the company’s stock worth $101,000 after purchasing an additional 179 shares during the last quarter. Finally, Matrix Trust Co boosted its holdings in Tyson Foods by 28.8% during the fourth quarter. Matrix Trust Co now owns 818 shares of the company’s stock worth $48,000 after purchasing an additional 183 shares during the last quarter. 67.00% of the stock is currently owned by hedge funds and other institutional investors.

Tyson Foods Stock Down 0.0%

TSN opened at $57.41 on Monday. The company has a quick ratio of 0.70, a current ratio of 1.83 and a debt-to-equity ratio of 0.44. The stock has a market cap of $20.22 billion, a price-to-earnings ratio of 45.21, a PEG ratio of 1.17 and a beta of 0.38. Tyson Foods, Inc. has a twelve month low of $50.56 and a twelve month high of $69.48. The company’s 50-day moving average price is $63.69 and its two-hundred day moving average price is $61.86.

Tyson Foods (NYSE:TSN) last released its earnings results on Monday, May 4th. The company reported $0.87 earnings per share for the quarter, beating analysts’ consensus estimates of $0.76 by $0.11. The firm 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 company’s quarterly revenue was up 4.4% on a year-over-year basis. During the same period in the previous year, the company earned $0.92 earnings per share. As a group, equities analysts expect that Tyson Foods, Inc. will post 4.14 earnings per share for the current 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 $0.51 dividend. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $2.04 annualized dividend and a dividend yield of 3.6%. Tyson Foods’s payout ratio is 160.63%.

Wall Street Analysts Forecast Growth

TSN has been the topic of several analyst reports. JPMorgan Chase & Co. cut their price target on shares of Tyson Foods from $67.00 to $65.00 and set a “neutral” rating on the stock in a report on Tuesday, March 24th. BMO Capital Markets reiterated an “outperform” rating on shares of Tyson Foods in a research note on Tuesday, May 5th. Stephens boosted their target price on shares of Tyson Foods from $65.00 to $70.00 and gave the company an “equal weight” rating in a research note on Tuesday, May 5th. Piper Sandler reiterated an “overweight” rating and issued a $80.00 target price on shares of Tyson Foods in a research note on Monday, May 4th. Finally, Mizuho started coverage on shares of Tyson Foods in a research note on Thursday, March 26th. They issued an “outperform” rating and a $72.00 target price on the stock. Five investment analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $68.27.

Tyson Foods 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.