Canada Pension Plan Investment Board Lowers Position in Tyson Foods, Inc. $TSN

Key Points

• The Canada Pension Plan Investment Board reduced its stake in Tyson Foods, Inc. by 18.1%, selling 222,238 shares and holding 1,008,199 shares valued at approximately $64.33 million.
• Analysts have recently adjusted their price targets for Tyson Foods, with JP Morgan setting a new target of $60.00 and Bernstein Bank lowering theirs from $74.00 to $59.00.
• Tyson Foods announced a quarterly dividend of $0.50 per share with a yield of 3.5% and has also authorized a buyback of up to 43 million shares.

Canada Pension Plan Investment Board cut its stake in Tyson Foods, Inc. (NYSE:TSN - Free Report) by 18.1% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,008,199 shares of the company's stock after selling 222,238 shares during the period. Canada Pension Plan Investment Board owned 0.28% of Tyson Foods worth $64,333,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Park Square Financial Group LLC purchased a new stake in Tyson Foods in the fourth quarter worth about $25,000. Curat Global LLC purchased a new stake in Tyson Foods in the first quarter worth about $28,000. Zions Bancorporation National Association UT bought a new stake in shares of Tyson Foods in the 1st quarter worth approximately $28,000. Rossby Financial LCC bought a new stake in shares of Tyson Foods in the 1st quarter worth approximately $53,000. Finally, Siemens Fonds Invest GmbH bought a new stake in shares of Tyson Foods in the 4th quarter worth approximately $65,000. 67.00% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently commented on TSN. JPMorgan Chase & Co. began coverage on Tyson Foods in a research report on Wednesday, August 20th. They issued a "neutral" rating and a $60.00 price target on the stock. Bernstein Bank cut Tyson Foods to a "market perform" rating and dropped their price target for the stock from $74.00 to $59.00 in a research report on Wednesday, July 23rd. Stephens dropped their price target on Tyson Foods from $61.00 to $55.00 in a research report on Tuesday, July 15th. JP Morgan Cazenove dropped their price target on Tyson Foods from $61.00 to $60.00 and set a "neutral" rating on the stock in a research report on Monday, July 7th. Finally, Wall Street Zen cut Tyson Foods from a "buy" rating to a "hold" rating in a research report on Tuesday, May 6th. Two research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $61.25.

Tyson Foods Price Performance

Shares of NYSE TSN opened at $56.80 on Friday. Tyson Foods, Inc. has a twelve month low of $51.85 and a twelve month high of $66.88. The firm has a market cap of $20.21 billion, a P/E ratio of 25.82, a PEG ratio of 0.77 and a beta of 0.59. The company has a 50 day moving average of $55.39 and a 200 day moving average of $57.53. The company has a quick ratio of 0.78, a current ratio of 1.73 and a debt-to-equity ratio of 0.44.

Tyson Foods (NYSE:TSN - Get Free Report) last announced its quarterly earnings data on Monday, August 4th. The company reported $0.91 earnings per share for the quarter, topping analysts' consensus estimates of $0.72 by $0.19. The company had revenue of $13.88 billion during the quarter, compared to analyst estimates of $13.54 billion. Tyson Foods had a net margin of 1.45% and a return on equity of 7.49%. The firm's revenue for the quarter was up 4.0% on a year-over-year basis. During the same period in the previous year, the business earned $0.87 EPS. Tyson Foods has set its FY 2025 guidance at EPS. As a group, research analysts expect that Tyson Foods, Inc. will post 3.8 EPS for the current fiscal year.

Tyson Foods Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 1st will be paid a dividend of $0.50 per share. The ex-dividend date is Monday, December 1st. This represents a $2.00 dividend on an annualized basis and a yield of 3.5%. Tyson Foods's payout ratio is currently 90.91%.

Tyson Foods announced that its Board of Directors has authorized a share repurchase plan on Thursday, August 7th that authorizes the company to buyback 43,000,000 shares. This buyback authorization authorizes the company to purchase shares of its stock through open market purchases. Stock buyback plans are often an indication that the company's management believes its shares are undervalued.

About Tyson Foods

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.

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