Merit Financial Group LLC Cuts Stock Holdings in Tyson Foods, Inc. $TSN

Merit Financial Group LLC reduced its stake in Tyson Foods, Inc. (NYSE:TSN) by 26.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 34,914 shares of the company’s stock after selling 12,594 shares during the period. Merit Financial Group LLC’s holdings in Tyson Foods were worth $1,999,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Empowered Funds LLC grew its stake in Tyson Foods by 15.6% during the 1st quarter. Empowered Funds LLC now owns 28,076 shares of the company’s stock worth $1,792,000 after purchasing an additional 3,788 shares in the last quarter. Woodline Partners LP raised its position in Tyson Foods by 40.8% in the 1st quarter. Woodline Partners LP now owns 24,178 shares of the company’s stock valued at $1,543,000 after purchasing an additional 7,011 shares in the last quarter. Focus Partners Wealth raised its position in Tyson Foods by 84.0% in the 1st quarter. Focus Partners Wealth now owns 12,597 shares of the company’s stock valued at $804,000 after purchasing an additional 5,749 shares in the last quarter. Sivia Capital Partners LLC boosted its stake in shares of Tyson Foods by 100.3% in the 2nd quarter. Sivia Capital Partners LLC now owns 7,393 shares of the company’s stock valued at $414,000 after buying an additional 3,702 shares during the period. Finally, Cerity Partners LLC boosted its stake in shares of Tyson Foods by 129.2% in the 2nd quarter. Cerity Partners LLC now owns 85,939 shares of the company’s stock valued at $4,807,000 after buying an additional 48,451 shares during the period. 67.00% of the stock is currently owned by hedge funds and other institutional investors.

Tyson Foods Trading Down 1.0%

NYSE:TSN opened at $55.87 on Thursday. Tyson Foods, Inc. has a 1 year low of $50.56 and a 1 year high of $69.48. The stock has a market cap of $19.66 billion, a P/E ratio of 34.49, a P/E/G ratio of 1.21 and a beta of 0.40. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.55 and a current ratio of 1.43. The stock has a 50-day simple moving average of $57.78 and a 200-day simple moving average of $61.73.

Tyson Foods (NYSE:TSN) last issued its earnings results on Monday, August 3rd. The company reported $0.99 earnings per share for the quarter, hitting the consensus estimate of $0.99. The business had revenue of $13.87 billion for the quarter, compared to analyst estimates of $14.07 billion. Tyson Foods had a return on equity of 7.77% and a net margin of 1.03%.The business’s quarterly revenue was down .1% on a year-over-year basis. During the same quarter last year, the company earned $0.91 EPS. As a group, analysts anticipate that Tyson Foods, Inc. will post 3.95 earnings per share for the current fiscal year.

Tyson Foods Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 15th. Shareholders of record on Tuesday, December 1st will be paid a $0.51 dividend. This represents a $2.04 annualized dividend and a yield of 3.7%. The ex-dividend date is Tuesday, December 1st. Tyson Foods’s dividend payout ratio is currently 125.93%.

Analyst Upgrades and Downgrades

TSN has been the topic of a number of recent research reports. Piper Sandler restated an “overweight” rating and set a $78.00 target price (down from $80.00) on shares of Tyson Foods in a research note on Thursday, June 18th. Wall Street Zen downgraded shares of Tyson Foods from a “buy” rating to a “hold” rating in a research note on Saturday, June 20th. JPMorgan Chase & Co. lowered their price target on shares of Tyson Foods from $71.00 to $65.00 and set a “neutral” rating for the company in a report on Tuesday, July 14th. Stephens increased their price objective on shares of Tyson Foods from $65.00 to $70.00 and gave the company an “equal weight” rating in a research report on Tuesday, May 5th. Finally, HSBC reduced their price objective on shares of Tyson Foods from $74.00 to $69.00 and set a “hold” rating on the stock in a report on Wednesday, July 29th. Four equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $70.67.

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.