Wedge Capital Management L L P NC Invests $4.38 Million in Tyson Foods, Inc. $TSN

Key Points

• Wedge Capital Management acquired a new position in Tyson Foods with 78,303 shares valued at approximately $4,380,000 in the second quarter.
• Tyson Foods reported a net revenue of $13.88 billion for the quarter, exceeding analysts' expectations and demonstrating a year-over-year revenue increase of 4%.
• The company has declared a quarterly dividend of $0.50 per share to be paid on December 15th, reflecting a 3.7% yield with a payout ratio of 90.91%.

Wedge Capital Management L L P NC acquired a new position in Tyson Foods, Inc. (NYSE:TSN - Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 78,303 shares of the company's stock, valued at approximately $4,380,000.

Other large investors have also recently bought and sold shares of the company. Park Square Financial Group LLC acquired a new stake in shares of Tyson Foods during the fourth quarter valued at $25,000. Curat Global LLC acquired a new stake in shares of Tyson Foods during the first quarter valued at $28,000. Zions Bancorporation National Association UT acquired a new stake in shares of Tyson Foods during the first quarter valued at $28,000. Rossby Financial LCC acquired a new stake in shares of Tyson Foods during the first quarter valued at $53,000. Finally, Plato Investment Management Ltd boosted its stake in shares of Tyson Foods by 325.6% during the first quarter. Plato Investment Management Ltd now owns 881 shares of the company's stock valued at $57,000 after acquiring an additional 674 shares during the last quarter. Hedge funds and other institutional investors own 67.00% of the company's stock.

Tyson Foods Stock Up 0.3%

TSN stock traded up $0.14 during midday trading on Monday, hitting $53.73. 3,111,202 shares of the company's stock were exchanged, compared to its average volume of 2,700,818. The company has a current ratio of 1.73, a quick ratio of 0.78 and a debt-to-equity ratio of 0.44. Tyson Foods, Inc. has a 12-month low of $51.85 and a 12-month high of $65.95. The firm has a 50 day moving average price of $55.29 and a 200-day moving average price of $57.06. The stock has a market capitalization of $19.11 billion, a price-to-earnings ratio of 24.42, a price-to-earnings-growth ratio of 0.73 and a beta of 0.59.

Tyson Foods (NYSE:TSN - Get Free Report) last posted its quarterly earnings data on Monday, August 4th. The company reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.72 by $0.19. Tyson Foods had a return on equity of 7.49% and a net margin of 1.45%.The company had revenue of $13.88 billion for the quarter, compared to the consensus estimate of $13.54 billion. During the same period in the previous year, the business earned $0.87 EPS. Tyson Foods's revenue for the quarter was up 4.0% compared to the same quarter last year. Tyson Foods has set its FY 2025 guidance at EPS. On average, analysts anticipate that Tyson Foods, Inc. will post 3.8 EPS for the current year.

Tyson Foods declared that its Board of Directors has initiated a share buyback program on Thursday, August 7th that allows the company to buyback 43,000,000 shares. This buyback authorization allows the company to buy shares of its stock through open market purchases. Stock buyback programs are often a sign that the company's board believes its stock is undervalued.

Tyson Foods Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 1st will be given a dividend of $0.50 per share. The ex-dividend date is Monday, December 1st. This represents a $2.00 dividend on an annualized basis and a yield of 3.7%. Tyson Foods's payout ratio is currently 90.91%.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Sanford C. Bernstein lowered Tyson Foods from an "outperform" rating to a "market perform" rating and decreased their price target for the stock from $74.00 to $59.00 in a research note on Wednesday, July 23rd. JPMorgan Chase & Co. assumed coverage on Tyson Foods in a research note on Wednesday, August 20th. They issued a "neutral" rating and a $60.00 price target on the stock. JP Morgan Cazenove decreased their price target on Tyson Foods from $61.00 to $60.00 and set a "neutral" rating on the stock in a research note on Monday, July 7th. BMO Capital Markets decreased their price target on Tyson Foods from $62.00 to $58.00 and set a "market perform" rating on the stock in a research note on Monday, July 28th. Finally, Bernstein Bank lowered Tyson Foods to a "market perform" rating and decreased their price target for the stock from $74.00 to $59.00 in a research note on Wednesday, July 23rd. Two investment analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $61.25.

About Tyson Foods

Tyson Foods, Inc, together with its subsidiaries, operates as a food company worldwide. It operates through four segments: Beef, Pork, Chicken, and Prepared Foods. The company processes live fed cattle and hogs; fabricates dressed beef and pork carcasses into primal and sub-primal meat cuts, as well as case ready beef and pork, and fully cooked meats; raises and processes chickens into fresh, frozen, and value-added chicken products, including breaded chicken strips, nuggets, patties, and other ready-to-fix or fully cooked chicken parts; and supplies poultry breeding stock.