Avantax Advisory Services Inc. Cuts Stock Position in Tyson Foods, Inc. (NYSE:TSN)

Key Points

• Avantax Advisory Services Inc. significantly reduced its stake in Tyson Foods, cutting holdings by 77.9%, leaving them with 11,154 shares valued at approximately $712,000.
• Wall Street analysts have mixed ratings for Tyson Foods; while Goldman Sachs initiated coverage with a "buy" rating and a target price of $67.00, other firms have downgraded their price targets, indicating a bearish sentiment.
• Tyson Foods announced a quarterly dividend of $0.50 per share, resulting in an annualized yield of 3.7%, with a payout ratio currently at 77.82%.

Avantax Advisory Services Inc. lowered its holdings in shares of Tyson Foods, Inc. (NYSE:TSN - Free Report) by 77.9% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 11,154 shares of the company's stock after selling 39,366 shares during the quarter. Avantax Advisory Services Inc.'s holdings in Tyson Foods were worth $712,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently made changes to their positions in TSN. Machina Capital S.A.S. boosted its stake in Tyson Foods by 83.9% in the 1st quarter. Machina Capital S.A.S. now owns 28,584 shares of the company's stock worth $1,824,000 after purchasing an additional 13,038 shares during the period. Unison Advisors LLC boosted its stake in Tyson Foods by 0.9% in the 1st quarter. Unison Advisors LLC now owns 26,209 shares of the company's stock worth $1,672,000 after purchasing an additional 232 shares during the period. AE Wealth Management LLC bought a new position in Tyson Foods in the 1st quarter worth approximately $1,144,000. Wakefield Asset Management LLLP boosted its stake in Tyson Foods by 668.6% in the 1st quarter. Wakefield Asset Management LLLP now owns 67,286 shares of the company's stock worth $4,294,000 after purchasing an additional 58,532 shares during the period. Finally, Wedbush Securities Inc. raised its holdings in shares of Tyson Foods by 49.9% during the 1st quarter. Wedbush Securities Inc. now owns 7,274 shares of the company's stock worth $464,000 after acquiring an additional 2,422 shares in the last quarter. 67.00% of the stock is currently owned by institutional investors.

Tyson Foods Stock Up 1.9%

Shares of TSN traded up $1.04 during midday trading on Tuesday, reaching $54.85. 3,637,683 shares of the stock were exchanged, compared to its average volume of 2,724,704. Tyson Foods, Inc. has a 52 week low of $51.85 and a 52 week high of $66.88. The company has a current ratio of 1.73, a quick ratio of 0.69 and a debt-to-equity ratio of 0.44. The company's 50 day moving average is $54.87 and its two-hundred day moving average is $57.58. The company has a market capitalization of $19.54 billion, a P/E ratio of 24.93, a PEG ratio of 0.73 and a beta of 0.59.

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

Tyson Foods Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 12th. Shareholders of record on Friday, August 29th will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 3.6%. The ex-dividend date is Friday, August 29th. Tyson Foods's payout ratio is 77.82%.

Analysts Set New Price Targets

TSN has been the topic of several recent research reports. Wall Street Zen cut Tyson Foods from a "buy" rating to a "hold" rating in a report on Tuesday, May 6th. Bernstein Bank lowered Tyson Foods to a "market perform" rating and decreased their price target for the company from $74.00 to $59.00 in a report on Wednesday, July 23rd. Stephens decreased their price target on Tyson Foods from $61.00 to $55.00 in a report on Tuesday, July 15th. 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 report on Monday, July 7th. Finally, Sanford C. Bernstein lowered Tyson Foods from an "outperform" rating to a "market perform" rating and decreased their price target for the company from $74.00 to $59.00 in a report on Wednesday, July 23rd. Thirteen analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $61.33.

Tyson Foods Company 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.