Bank of America Corp DE Acquires 243,060 Shares of Tyson Foods, Inc. $TSN

Key Points

• Bank of America increased its Tyson Foods stake by 17.8% in the first quarter, acquiring 243,060 additional shares and bringing its holdings to 1.61 million shares worth approximately $103.2 million.
• Other institutional investors also added to Tyson Foods, with institutional and hedge-fund ownership reaching 67% of outstanding shares.
• Tyson reported quarterly EPS of $0.99, matching estimates, while revenue of $13.87 billion fell short of expectations. The company maintained a quarterly dividend of $0.51 per share, representing a 3.5% yield, but analysts’ consensus rating remained “Hold.”

Bank of America Corp DE lifted its stake in Tyson Foods, Inc. (NYSE:TSN - Free Report) by 17.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,610,663 shares of the company's stock after acquiring an additional 243,060 shares during the period. Bank of America Corp DE owned approximately 0.46% of Tyson Foods worth $103,195,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. Edgestream Partners L.P. increased its position in shares of Tyson Foods by 252.8% during the first quarter. Edgestream Partners L.P. now owns 66,763 shares of the company's stock valued at $4,278,000 after purchasing an additional 47,841 shares during the period. Kentucky Retirement Systems boosted its position in shares of Tyson Foods by 27.7% during the 1st quarter. Kentucky Retirement Systems now owns 22,425 shares of the company's stock valued at $1,437,000 after acquiring an additional 4,859 shares in the last quarter. Janus Henderson Group PLC boosted its position in shares of Tyson Foods by 107.1% during the 1st quarter. Janus Henderson Group PLC now owns 48,577 shares of the company's stock valued at $3,112,000 after acquiring an additional 25,117 shares in the last quarter. Bull Harbor Capital LLC bought a new stake in Tyson Foods in the first quarter valued at about $1,535,000. Finally, Strategic Investment Advisors MI raised its position in Tyson Foods by 8.5% in the first quarter. Strategic Investment Advisors MI now owns 8,979 shares of the company's stock worth $575,000 after purchasing an additional 707 shares in the last quarter. Institutional investors and hedge funds own 67.00% of the company's stock.

Tyson Foods Stock Down 1.0%

Shares of TSN opened at $57.98 on Friday. The firm has a market capitalization of $20.42 billion, a price-to-earnings ratio of 35.79, a PEG ratio of 1.25 and a beta of 0.40. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.70 and a current ratio of 1.43. The business's fifty day moving average price is $57.92 and its two-hundred day moving average price is $61.80. Tyson Foods, Inc. has a 52 week low of $50.56 and a 52 week high of $69.48.

Tyson Foods (NYSE:TSN - Get Free Report) last announced its quarterly earnings data on Monday, August 3rd. The company reported $0.99 earnings per share for the quarter, hitting the consensus estimate of $0.99. The firm had revenue of $13.87 billion during the quarter, compared to analysts' expectations of $14.07 billion. Tyson Foods had a return on equity of 7.77% and a net margin of 1.03%.The company's quarterly revenue was down .1% compared to the same quarter last year. During the same period in the previous year, the business posted $0.91 EPS. On average, analysts predict that Tyson Foods, Inc. will post 3.95 earnings per share for the current year.

Tyson Foods Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 15th. Shareholders of record on Tuesday, December 1st will be issued a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date of this dividend is Tuesday, December 1st. Tyson Foods's payout ratio is currently 125.93%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on TSN shares. Wall Street Zen lowered Tyson Foods from a "buy" rating to a "hold" rating in a research note on Saturday, June 20th. Piper Sandler reaffirmed an "overweight" rating and issued a $78.00 price target (down from $80.00) on shares of Tyson Foods in a research note on Thursday, June 18th. HSBC lowered their price target on Tyson Foods from $74.00 to $69.00 and set a "hold" rating on the stock in a research report on Wednesday, July 29th. Weiss Ratings cut Tyson Foods from a "hold (c+)" rating to a "hold (c)" rating in a report on Thursday, July 9th. Finally, BMO Capital Markets restated an "outperform" rating on shares of Tyson Foods in a research note on Tuesday, May 5th. Four analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Tyson Foods presently has an average rating of "Hold" and a consensus price target of $70.67.

About Tyson Foods

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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