Hsbc Holdings PLC Buys 340,671 Shares of Tyson Foods, Inc. $TSN

Hsbc Holdings PLC grew its stake in shares of Tyson Foods, Inc. (NYSE:TSN) by 57.8% during the first quarter, Holdings Channel reports. The institutional investor owned 930,379 shares of the company’s stock after buying an additional 340,671 shares during the period. Hsbc Holdings PLC’s holdings in Tyson Foods were worth $59,560,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently made changes to their positions in TSN. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in shares of Tyson Foods by 2.5% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 609,977 shares of the company’s stock worth $35,403,000 after purchasing an additional 14,858 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Tyson Foods by 39.1% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 103,769 shares of the company’s stock valued at $5,788,000 after buying an additional 29,160 shares in the last quarter. SG Americas Securities LLC lifted its stake in shares of Tyson Foods by 564.2% during the 4th quarter. SG Americas Securities LLC now owns 516,967 shares of the company’s stock valued at $30,305,000 after buying an additional 439,137 shares in the last quarter. Pzena Investment Management LLC boosted its holdings in Tyson Foods by 10.7% in the 4th quarter. Pzena Investment Management LLC now owns 15,310,513 shares of the company’s stock worth $897,502,000 after buying an additional 1,480,987 shares during the period. Finally, OFI Invest Asset Management bought a new position in Tyson Foods in the 4th quarter worth $22,862,000. 67.00% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have commented on TSN. Stephens raised their price target on Tyson Foods from $65.00 to $70.00 and gave the company an “equal weight” rating in a report on Tuesday, May 5th. Piper Sandler reiterated an “overweight” rating and set a $78.00 target price (down from $80.00) on shares of Tyson Foods in a research report on Thursday, June 18th. Sanford C. Bernstein decreased their target price on Tyson Foods from $72.00 to $63.00 and set a “market perform” rating on the stock in a research note on Thursday, July 2nd. Wall Street Zen cut Tyson Foods from a “buy” rating to a “hold” rating in a report on Saturday, June 20th. Finally, BMO Capital Markets restated an “outperform” rating on shares of Tyson Foods in a research note on Tuesday, May 5th. Four analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat.com, Tyson Foods has a consensus rating of “Hold” and a consensus target price of $69.56.

Tyson Foods Stock Performance

Shares of NYSE TSN opened at $57.76 on Monday. The company has a market cap of $20.34 billion, a P/E ratio of 45.48, a P/E/G ratio of 1.19 and a beta of 0.40. Tyson Foods, Inc. has a 52-week low of $50.56 and a 52-week 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 firm’s fifty day moving average is $59.99 and its two-hundred day moving average is $61.80.

Tyson Foods (NYSE:TSN) last released its quarterly earnings data on Monday, May 4th. The company reported $0.87 EPS for the quarter, beating the consensus estimate of $0.76 by $0.11. The business had revenue of $13.65 billion during the quarter, compared to the consensus estimate of $13.63 billion. Tyson Foods had a net margin of 0.81% and a return on equity of 7.59%. The business’s revenue was up 4.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.92 EPS. As a group, analysts anticipate that Tyson Foods, Inc. will post 4.12 EPS for the current fiscal year.

Tyson Foods Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st will be issued a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a yield of 3.5%. The ex-dividend date is Tuesday, September 1st. Tyson Foods’s dividend payout ratio (DPR) 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.