Barclays PLC Sells 341,721 Shares of Tyson Foods, Inc. $TSN

Key Points

• Barclays PLC cut its stake in Tyson Foods by 29.6%, selling 341,721 shares in the quarter and now holds 811,456 shares (~0.23% of TSN) worth about $44.06 million.
• Other large investors significantly increased positions — including a new ~ $246 million stake from Norges Bank and major additions from Davis Selected Advisers, AQR and Invesco — leaving institutional investors with roughly 67% ownership.
• Tyson reported Q results with EPS of $0.97 (missing the $1.01 consensus) but revenue beat at $14.31 billion, and announced a $0.51 quarterly dividend (annualized $2.04, ~3.3% yield) despite a very high payout ratio (364%).

Barclays PLC lowered its holdings in shares of Tyson Foods, Inc. (NYSE:TSN - Free Report) by 29.6% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 811,456 shares of the company's stock after selling 341,721 shares during the period. Barclays PLC owned about 0.23% of Tyson Foods worth $44,062,000 as of its most recent filing with the SEC.

A number of other large investors also recently added to or reduced their stakes in the business. Norges Bank bought a new position in shares of Tyson Foods during the second quarter valued at about $246,055,000. Davis Selected Advisers boosted its holdings in Tyson Foods by 91.4% during the 2nd quarter. Davis Selected Advisers now owns 8,956,466 shares of the company's stock valued at $501,025,000 after acquiring an additional 4,276,884 shares during the period. AQR Capital Management LLC boosted its holdings in Tyson Foods by 76.1% during the 2nd quarter. AQR Capital Management LLC now owns 5,006,787 shares of the company's stock valued at $277,326,000 after acquiring an additional 2,164,160 shares during the period. Invesco Ltd. grew its position in Tyson Foods by 36.0% during the 2nd quarter. Invesco Ltd. now owns 5,864,131 shares of the company's stock worth $328,039,000 after acquiring an additional 1,550,812 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its position in Tyson Foods by 73.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,879,219 shares of the company's stock worth $102,042,000 after acquiring an additional 795,710 shares during the last quarter. Hedge funds and other institutional investors own 67.00% of the company's stock.

Tyson Foods Price Performance

Shares of TSN stock opened at $61.27 on Tuesday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.66 and a current ratio of 1.53. Tyson Foods, Inc. has a fifty-two week low of $50.56 and a fifty-two week high of $66.41. The firm has a market cap of $21.57 billion, a P/E ratio of 109.42, a P/E/G ratio of 1.35 and a beta of 0.47. The business's 50 day moving average price is $62.14 and its 200-day moving average price is $57.55.

Tyson Foods (NYSE:TSN - Get Free Report) last announced its earnings results on Monday, February 2nd. The company reported $0.97 EPS for the quarter, missing analysts' consensus estimates of $1.01 by ($0.04). The business had revenue of $14.31 billion for the quarter, compared to the consensus estimate of $14.11 billion. Tyson Foods had a net margin of 0.36% and a return on equity of 7.67%. Tyson Foods's revenue was up 5.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.14 EPS. On average, equities research 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 disclosed a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Monday, June 1st will be issued a $0.51 dividend. The ex-dividend date is Monday, June 1st. This represents a $2.04 annualized dividend and a yield of 3.3%. Tyson Foods's dividend payout ratio is 364.29%.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on TSN. Piper Sandler boosted their price objective on Tyson Foods from $58.00 to $61.00 and gave the company a "neutral" rating in a research report on Friday, December 12th. Argus upgraded shares of Tyson Foods to a "hold" rating in a report on Friday, February 6th. Barclays upped their price target on shares of Tyson Foods from $75.00 to $78.00 and gave the company an "overweight" rating in a report on Tuesday, February 3rd. JPMorgan Chase & Co. increased their price target on shares of Tyson Foods from $63.00 to $67.00 and gave the company a "neutral" rating in a research report on Tuesday, February 3rd. Finally, BMO Capital Markets raised their price target on shares of Tyson Foods from $67.00 to $73.00 and gave the stock an "outperform" rating in a report on Tuesday, February 3rd. Three research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company's stock. According to MarketBeat.com, Tyson Foods has an average rating of "Hold" and a consensus price target of $64.27.

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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