ASR Vermogensbeheer N.V. Acquires Shares of 24,266 Tyson Foods, Inc. (NYSE:TSN)

Key Points

• ASR Vermogensbeheer N.V. has made a new investment of approximately $1.55 million in Tyson Foods by acquiring 24,266 shares in the first quarter of 2023.
• Tyson Foods announced a new share buyback program allowing the repurchase of up to 43 million shares, indicating that the company believes its stock is undervalued.
• The company reported a quarterly EPS of $0.91, surpassing market expectations, with revenue increasing by 4.0% year-over-year to $13.88 billion.

ASR Vermogensbeheer N.V. purchased a new position in shares of Tyson Foods, Inc. (NYSE:TSN - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 24,266 shares of the company's stock, valued at approximately $1,548,000.

Several other large investors have also modified their holdings of TSN. Bessemer Group Inc. raised its position in Tyson Foods by 11.3% in the first quarter. Bessemer Group Inc. now owns 6,399 shares of the company's stock worth $408,000 after acquiring an additional 651 shares in the last quarter. Tabor Asset Management LP purchased a new position in Tyson Foods in the first quarter worth $2,180,000. VELA Investment Management LLC raised its position in Tyson Foods by 45.6% in the first quarter. VELA Investment Management LLC now owns 17,678 shares of the company's stock worth $1,128,000 after acquiring an additional 5,537 shares in the last quarter. World Investment Advisors raised its position in Tyson Foods by 54.2% in the first quarter. World Investment Advisors now owns 14,861 shares of the company's stock worth $948,000 after acquiring an additional 5,226 shares in the last quarter. Finally, Summit Global Investments raised its position in Tyson Foods by 212.8% in the first quarter. Summit Global Investments now owns 230,921 shares of the company's stock worth $14,735,000 after acquiring an additional 157,092 shares in the last quarter. Hedge funds and other institutional investors own 67.00% of the company's stock.

Tyson Foods Trading Up 1.5%

NYSE:TSN traded up $0.87 during mid-day trading on Wednesday, reaching $57.31. The company's stock had a trading volume of 831,091 shares, compared to its average volume of 2,719,942. The company's fifty day simple moving average is $54.91 and its two-hundred day simple moving average is $57.57. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.73 and a quick ratio of 0.78. Tyson Foods, Inc. has a twelve month low of $51.85 and a twelve month high of $66.88. The stock has a market cap of $20.39 billion, a P/E ratio of 26.09, a P/E/G ratio of 0.78 and a beta of 0.59.

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

Tyson Foods announced that its Board of Directors has authorized a share repurchase plan on Thursday, August 7th that allows the company to buyback 43,000,000 shares. This buyback authorization allows the company to reacquire shares of its stock through open market purchases. Stock buyback plans are often an indication that the company's leadership believes its shares are undervalued.

Tyson Foods Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 1st will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 3.5%. The ex-dividend date is Monday, December 1st. Tyson Foods's dividend payout ratio (DPR) is presently 90.91%.

Wall Street Analyst Weigh In

TSN has been the topic of several research reports. Sanford C. Bernstein lowered Tyson Foods from an "outperform" rating to a "market perform" rating and lowered their target price for the company from $74.00 to $59.00 in a report on Wednesday, July 23rd. Stephens lowered their target price on Tyson Foods from $61.00 to $55.00 in a report on Tuesday, July 15th. Citigroup upped their target price on Tyson Foods from $59.00 to $60.00 and gave the company a "neutral" rating in a report on Tuesday, April 15th. JPMorgan Chase & Co. lowered their target price on Tyson Foods from $63.00 to $61.00 and set a "neutral" rating on the stock in a report on Tuesday, May 6th. Finally, BMO Capital Markets lowered their target price on Tyson Foods from $62.00 to $58.00 and set a "market perform" rating on the stock in a report on Monday, July 28th. Thirteen analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, Tyson Foods presently has a consensus rating of "Hold" and a consensus price target of $61.33.

Tyson Foods Profile

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.