California Public Employees Retirement System Sells 80,404 Shares of Tyson Foods, Inc. $TSN

Key Points

• CalPERS reduced its Tyson Foods stake by 11% in the first quarter, selling 80,404 shares and leaving it with 651,594 shares valued at about $41.7 million.
• Institutional ownership remains high, with hedge funds and other institutions holding about 67% of Tyson Foods’ stock, and several large investors recently increasing their positions.
• Tyson posted mixed but solid quarterly results, beating EPS estimates with $0.87 per share and reporting revenue of $13.65 billion, while analysts currently maintain a consensus Hold rating with an average target price of $69.56.

California Public Employees Retirement System cut its holdings in shares of Tyson Foods, Inc. (NYSE:TSN - Free Report) by 11.0% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 651,594 shares of the company's stock after selling 80,404 shares during the period. California Public Employees Retirement System owned 0.19% of Tyson Foods worth $41,748,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in TSN. Pzena Investment Management LLC boosted its holdings in Tyson Foods by 12.1% in the first quarter. Pzena Investment Management LLC now owns 17,155,713 shares of the company's stock valued at $1,099,167,000 after acquiring an additional 1,845,200 shares in the last quarter. State Street Corp raised its holdings in Tyson Foods by 0.6% in the 3rd quarter. State Street Corp now owns 14,075,676 shares of the company's stock worth $764,309,000 after purchasing an additional 85,282 shares in the last quarter. Davis Selected Advisers raised its holdings in Tyson Foods by 28.8% in the 4th quarter. Davis Selected Advisers now owns 12,827,540 shares of the company's stock worth $751,951,000 after purchasing an additional 2,865,413 shares in the last quarter. AQR Capital Management LLC lifted its position in shares of Tyson Foods by 20.6% in the 4th quarter. AQR Capital Management LLC now owns 8,114,441 shares of the company's stock worth $475,669,000 after purchasing an additional 1,387,645 shares during the period. Finally, Invesco Ltd. boosted its stake in shares of Tyson Foods by 1.4% during the 4th quarter. Invesco Ltd. now owns 6,055,876 shares of the company's stock valued at $354,995,000 after purchasing an additional 83,861 shares in the last quarter. Hedge funds and other institutional investors own 67.00% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on TSN. Mizuho initiated coverage on shares of Tyson Foods in a research report on Thursday, March 26th. They set an "outperform" rating and a $72.00 price target on the stock. Bank of America lowered their price objective on shares of Tyson Foods from $70.00 to $68.00 and set a "neutral" rating for the company in a report on Thursday, July 2nd. Stephens upped their target price on Tyson Foods from $65.00 to $70.00 and gave the stock an "equal weight" rating in a report on Tuesday, May 5th. Weiss Ratings lowered Tyson Foods from a "hold (c+)" rating to a "hold (c)" rating in a research 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 research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $69.56.

Tyson Foods Stock Up 0.5%

TSN stock opened at $58.08 on Tuesday. Tyson Foods, Inc. has a twelve month low of $50.56 and a twelve month high of $69.48. The company has a quick ratio of 0.70, a current ratio of 1.83 and a debt-to-equity ratio of 0.44. The firm has a market cap of $20.45 billion, a PE ratio of 45.73, a price-to-earnings-growth ratio of 1.19 and a beta of 0.40. The business has a 50 day moving average of $59.81 and a 200 day moving average of $61.80.

Tyson Foods (NYSE:TSN - Get Free Report) last released its earnings results on Monday, May 4th. The company reported $0.87 EPS for the quarter, topping the consensus estimate of $0.76 by $0.11. Tyson Foods had a return on equity of 7.59% and a net margin of 0.81%.The business had revenue of $13.65 billion for the quarter, compared to the consensus estimate of $13.63 billion. During the same period in the previous year, the company posted $0.92 earnings per share. The company's revenue for the quarter was up 4.4% compared to the same quarter last year. On average, research analysts forecast that Tyson Foods, Inc. will post 4.12 EPS for the current fiscal year.

Tyson Foods Announces Dividend

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

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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