Granite Group Advisors LLC Makes New $1.10 Million Investment in Tyson Foods, Inc. $TSN

Granite Group Advisors LLC acquired a new stake in Tyson Foods, Inc. (NYSE:TSN) in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 20,336 shares of the company’s stock, valued at approximately $1,104,000. Tyson Foods comprises about 0.7% of Granite Group Advisors LLC’s holdings, making the stock its 27th biggest holding.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in shares of Tyson Foods during the 2nd quarter worth about $246,055,000. Davis Selected Advisers grew its holdings in Tyson Foods by 91.4% during the second quarter. Davis Selected Advisers now owns 8,956,466 shares of the company’s stock worth $501,025,000 after purchasing an additional 4,276,884 shares during the period. AQR Capital Management LLC increased its position in Tyson Foods by 76.1% during the second quarter. AQR Capital Management LLC now owns 5,006,787 shares of the company’s stock worth $277,326,000 after buying an additional 2,164,160 shares during the last quarter. Invesco Ltd. raised its stake in Tyson Foods by 36.0% in the second quarter. Invesco Ltd. now owns 5,864,131 shares of the company’s stock valued at $328,039,000 after buying an additional 1,550,812 shares during the period. Finally, Arrowstreet Capital Limited Partnership lifted its position in shares of Tyson Foods by 82.5% in the second quarter. Arrowstreet Capital Limited Partnership now owns 1,557,925 shares of the company’s stock valued at $87,150,000 after buying an additional 704,361 shares during the last quarter. 67.00% of the stock is owned by institutional investors.

Tyson Foods Price Performance

NYSE:TSN opened at $57.40 on Friday. Tyson Foods, Inc. has a 52 week low of $50.56 and a 52 week high of $64.36. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.66 and a current ratio of 1.55. The firm’s 50-day simple moving average is $56.34 and its 200 day simple moving average is $55.23. The firm has a market cap of $20.26 billion, a price-to-earnings ratio of 43.15, a P/E/G ratio of 1.29 and a beta of 0.48.

Tyson Foods (NYSE:TSN) last announced its earnings results on Monday, November 10th. The company reported $1.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.85 by $0.30. Tyson Foods had a net margin of 0.87% and a return on equity of 7.95%. The firm had revenue of $13.86 billion for the quarter, compared to analyst estimates of $14.08 billion. During the same quarter in the prior year, the business posted $0.92 EPS. The business’s revenue was up 2.2% compared to the same quarter last year. As a group, sell-side analysts predict that Tyson Foods, Inc. will post 3.8 earnings per share for the current year.

Tyson Foods Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 13th. Shareholders of record on Friday, February 27th will be issued a $0.51 dividend. The ex-dividend date of this dividend is Friday, February 27th. This represents a $2.04 annualized dividend and a yield of 3.6%. This is a boost from Tyson Foods’s previous quarterly dividend of $0.50. Tyson Foods’s payout ratio is presently 153.38%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. Zacks Research raised Tyson Foods from a “strong sell” rating to a “hold” rating in a report on Thursday, October 30th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Tyson Foods in a research report on Monday, December 29th. Piper Sandler increased their price objective on shares of Tyson Foods from $58.00 to $61.00 and gave the company a “neutral” rating in a research report on Friday, December 12th. BMO Capital Markets set a $67.00 price target on shares of Tyson Foods and gave the company an “outperform” rating in a research note on Thursday. Finally, Santander initiated coverage on shares of Tyson Foods in a research report on Thursday, September 25th. They set a “neutral” rating for the company. Three equities research analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $61.92.

Insiders Place Their Bets

In related news, Chairman John H. Tyson sold 100,301 shares of the business’s stock in a transaction dated Friday, November 28th. The stock was sold at an average price of $58.05, for a total value of $5,822,473.05. Following the completion of the transaction, the chairman owned 2,989,415 shares of the company’s stock, valued at $173,535,540.75. The trade was a 3.25% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Curt Calaway sold 6,539 shares of the stock in a transaction dated Tuesday, November 25th. The stock was sold at an average price of $57.19, for a total transaction of $373,965.41. Following the sale, the chief financial officer owned 31,833 shares in the company, valued at $1,820,529.27. The trade was a 17.04% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 2.11% of the company’s stock.

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.