Assetmark Inc. Sells 8,163 Shares of Tyson Foods, Inc. (NYSE:TSN)

Key Points

• Assetmark Inc. has reduced its holdings in Tyson Foods, Inc. by 2.1%, selling 8,163 shares, and now owns about 0.11% of the company, valued at approximately $24.8 million.
• Tyson Foods reported a quarterly earnings beat with $0.92 EPS, surpassing analyst expectations of $0.85, and a revenue of $13.07 billion, slightly below estimates.
• The company recently announced a quarterly dividend of $0.50 per share, representing an annualized yield of 3.71% with a payout ratio of 77.82%.

Assetmark Inc. trimmed its holdings in Tyson Foods, Inc. (NYSE:TSN - Free Report) by 2.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 389,348 shares of the company's stock after selling 8,163 shares during the period. Assetmark Inc. owned 0.11% of Tyson Foods worth $24,844,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Park Square Financial Group LLC bought a new stake in shares of Tyson Foods during the 4th quarter valued at $25,000. Curat Global LLC acquired a new position in Tyson Foods in the first quarter valued at about $28,000. Ossiam lifted its position in Tyson Foods by 41.6% during the fourth quarter. Ossiam now owns 626 shares of the company's stock worth $36,000 after purchasing an additional 184 shares during the period. Rossby Financial LCC acquired a new stake in Tyson Foods during the first quarter worth about $53,000. Finally, Transce3nd LLC acquired a new stake in Tyson Foods during the fourth quarter worth about $54,000. Institutional investors and hedge funds own 67.00% of the company's stock.

Analyst Ratings Changes

TSN has been the subject of a number of recent analyst reports. Stephens cut their price target on shares of Tyson Foods from $63.00 to $61.00 and set an "equal weight" rating for the company in a report on Tuesday, May 6th. The Goldman Sachs Group initiated coverage on Tyson Foods in a research note on Monday, June 23rd. They set a "buy" rating and a $67.00 target price for the company. Citigroup lifted their price target on Tyson Foods from $59.00 to $60.00 and gave the company a "neutral" rating in a research note on Tuesday, April 15th. Sanford C. Bernstein downgraded Tyson Foods from an "outperform" rating to a "market perform" rating and dropped their price objective for the stock from $74.00 to $59.00 in a research report on Wednesday, July 23rd. Finally, JPMorgan Chase & Co. reduced their price objective on Tyson Foods from $63.00 to $61.00 and set a "neutral" rating on the stock in a research note on Tuesday, May 6th. Eleven research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $62.70.

Tyson Foods Trading Down 0.8%

TSN traded down $0.41 during trading on Wednesday, reaching $53.24. 594,114 shares of the company's stock were exchanged, compared to its average volume of 2,680,427. The company has a current ratio of 1.67, a quick ratio of 0.69 and a debt-to-equity ratio of 0.44. Tyson Foods, Inc. has a one year low of $52.71 and a one year high of $66.88. The firm has a fifty day moving average price of $55.10 and a two-hundred day moving average price of $57.64. The stock has a market capitalization of $18.97 billion, a PE ratio of 20.72, a price-to-earnings-growth ratio of 0.73 and a beta of 0.59.

Tyson Foods (NYSE:TSN - Get Free Report) last issued its quarterly earnings data on Monday, May 5th. The company reported $0.92 earnings per share for the quarter, topping the consensus estimate of $0.85 by $0.07. The company had revenue of $13.07 billion for the quarter, compared to analysts' expectations of $13.15 billion. Tyson Foods had a net margin of 1.70% and a return on equity of 7.43%. Tyson Foods's revenue for the quarter was up .0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.62 earnings per share. As a group, equities research analysts forecast that Tyson Foods, Inc. will post 3.8 earnings per share for the current fiscal year.

Tyson Foods Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 12th. Stockholders of record on Friday, August 29th will be given a dividend of $0.50 per share. The ex-dividend date is Friday, August 29th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.76%. Tyson Foods's dividend payout ratio (DPR) is 77.82%.

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.