Assenagon Asset Management S.A. Acquires 412,100 Shares of Tyson Foods, Inc. $TSN

Key Points

• Assenagon Asset Management significantly increased its Tyson Foods stake in the first quarter, buying 412,100 more shares and lifting its position by 85.7% to 892,807 shares worth about $57.2 million.
• Tyson Foods reported better-than-expected quarterly results, posting EPS of $0.87 versus the $0.76 estimate, with revenue of $13.65 billion slightly topping forecasts and rising 4.4% year over year.
• The company declared a quarterly dividend of $0.51 per share, equal to a $2.04 annualized payout and a 3.5% yield, while analysts currently rate the stock a consensus Hold with a $68.20 target price.

Assenagon Asset Management S.A. raised its stake in shares of Tyson Foods, Inc. (NYSE:TSN - Free Report) by 85.7% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 892,807 shares of the company's stock after purchasing an additional 412,100 shares during the period. Assenagon Asset Management S.A. owned 0.25% of Tyson Foods worth $57,202,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Meiji Yasuda Asset Management Co Ltd. lifted its stake in shares of Tyson Foods by 306.4% in the 3rd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 48,009 shares of the company's stock valued at $2,607,000 after purchasing an additional 36,197 shares during the period. AIA Group Ltd boosted its position in shares of Tyson Foods by 78.8% during the 3rd quarter. AIA Group Ltd now owns 51,197 shares of the company's stock valued at $2,780,000 after purchasing an additional 22,571 shares in the last quarter. Vinva Investment Management Ltd grew its stake in Tyson Foods by 111.6% during the third quarter. Vinva Investment Management Ltd now owns 387,714 shares of the company's stock worth $21,070,000 after purchasing an additional 204,482 shares during the period. Perbak Capital Partners LLP acquired a new stake in Tyson Foods during the third quarter worth approximately $1,255,000. Finally, Everpar Advisors LLC increased its holdings in Tyson Foods by 27.2% in the fourth quarter. Everpar Advisors LLC now owns 81,243 shares of the company's stock worth $4,762,000 after purchasing an additional 17,353 shares in the last quarter. 67.00% of the stock is owned by institutional investors and hedge funds.

Tyson Foods Trading Down 0.3%

NYSE:TSN opened at $57.63 on Friday. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.83 and a quick ratio of 0.70. Tyson Foods, Inc. has a one year low of $50.56 and a one year high of $69.48. The company has a market cap of $20.29 billion, a PE ratio of 45.38, a PEG ratio of 1.17 and a beta of 0.38. The firm has a 50-day moving average of $62.23 and a 200-day moving average of $61.82.

Tyson Foods (NYSE:TSN - Get Free Report) last announced its quarterly earnings results on Monday, May 4th. The company reported $0.87 earnings per share for the quarter, beating the consensus estimate of $0.76 by $0.11. The business had revenue of $13.65 billion for the quarter, compared to analysts' expectations of $13.63 billion. Tyson Foods had a net margin of 0.81% and a return on equity of 7.59%. The firm's revenue for the quarter was up 4.4% compared to the same quarter last year. During the same quarter last year, the firm earned $0.92 EPS. As a group, equities research analysts expect that Tyson Foods, Inc. will post 4.16 EPS for the current fiscal year.

Tyson Foods Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st will be given a dividend of $0.51 per share. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $2.04 annualized dividend and a dividend yield of 3.5%. Tyson Foods's payout ratio is presently 160.63%.

Analyst Ratings Changes

Several analysts have recently weighed in on TSN shares. Stephens lifted 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 note on Tuesday, May 5th. BMO Capital Markets reissued an "outperform" rating on shares of Tyson Foods in a research note on Tuesday, May 5th. Weiss Ratings raised shares of Tyson Foods from a "hold (c)" rating to a "hold (c+)" rating in a research note on Tuesday. JPMorgan Chase & Co. dropped their price objective on shares of Tyson Foods from $67.00 to $65.00 and set a "neutral" rating on the stock in a report on Tuesday, March 24th. Finally, Piper Sandler reissued an "overweight" rating and set a $78.00 price objective (down from $80.00) on shares of Tyson Foods in a research report on Thursday, June 18th. Four research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $68.20.

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.

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