Tyson Foods, Inc. $TSN Shares Sold by Resona Asset Management Co. Ltd.

Resona Asset Management Co. Ltd. cut its stake in shares of Tyson Foods, Inc. (NYSE:TSN) by 6.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 138,518 shares of the company’s stock after selling 9,542 shares during the quarter. Resona Asset Management Co. Ltd.’s holdings in Tyson Foods were worth $7,517,000 at the end of the most recent reporting period.

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

Tyson Foods Price Performance

Shares of NYSE:TSN opened at $63.64 on Tuesday. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.55 and a quick ratio of 0.66. The stock has a market capitalization of $22.47 billion, a P/E ratio of 47.85, a P/E/G ratio of 1.38 and a beta of 0.48. The business has a 50-day moving average of $58.12 and a two-hundred day moving average of $55.61. Tyson Foods, Inc. has a fifty-two week low of $50.56 and a fifty-two week high of $64.36.

Tyson Foods (NYSE:TSN) last issued its quarterly earnings data on Monday, November 10th. The company reported $1.15 earnings per share for the quarter, beating analysts’ consensus estimates of $0.85 by $0.30. Tyson Foods had a return on equity of 7.95% and a net margin of 0.87%.The business had revenue of $13.86 billion for the quarter, compared to the consensus estimate of $14.08 billion. During the same period last year, the business earned $0.92 EPS. The firm’s revenue was up 2.2% compared to the same quarter last year. On average, equities research analysts predict that Tyson Foods, Inc. will post 3.8 EPS for the current fiscal year.

Tyson Foods Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 13th. Stockholders of record on Friday, February 27th will be paid a $0.51 dividend. The ex-dividend date is Friday, February 27th. This is a boost from Tyson Foods’s previous quarterly dividend of $0.50. This represents a $2.04 dividend on an annualized basis and a dividend yield of 3.2%. Tyson Foods’s dividend payout ratio is presently 153.38%.

Insider Buying and Selling

In related news, Chairman John H. Tyson sold 100,301 shares of the company’s stock in a transaction on Friday, November 28th. The shares were sold at an average price of $58.05, for a total transaction of $5,822,473.05. Following the completion of the transaction, the chairman directly owned 2,989,415 shares in the company, valued at $173,535,540.75. This represents a 3.25% decrease in their position. 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 on Tuesday, November 25th. The shares were sold at an average price of $57.19, for a total transaction of $373,965.41. Following the completion of the sale, the chief financial officer directly owned 31,833 shares of the company’s stock, valued at approximately $1,820,529.27. This trade represents a 17.04% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 2.11% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. BMO Capital Markets set a $67.00 price target on Tyson Foods and gave the company an “outperform” rating in a research report on Thursday, January 8th. Bank of America dropped their price objective on shares of Tyson Foods from $59.00 to $58.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 8th. Zacks Research raised shares of Tyson Foods from a “strong sell” rating to a “hold” rating in a research note on Thursday, October 30th. Piper Sandler upped their price target on shares of Tyson Foods from $58.00 to $61.00 and gave the stock a “neutral” rating in a research note on Friday, December 12th. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Tyson Foods in a report on Monday, December 29th. Two research analysts have rated the stock with a Buy rating and thirteen have issued a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $60.60.

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.