Cary Street Partners Financial LLC Makes New $3.46 Million Investment in Tyson Foods, Inc. (NYSE:TSN)

Key Points

• Cary Street Partners Financial LLC has acquired a new stake in Tyson Foods, Inc. worth approximately $3.46 million, amounting to 54,281 shares during the first quarter.
• Analysts have recently lowered their price targets for Tyson Foods, with Sanford C. Bernstein cutting it from $74.00 to $59.00, while the company has a current consensus rating of "Hold" and an average target price of $61.33.
• Tyson Foods has announced a quarterly dividend of $0.50 per share, payable on September 12th, implying an annualized dividend yield of 3.6%.

Cary Street Partners Financial LLC bought a new position in Tyson Foods, Inc. (NYSE:TSN - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 54,281 shares of the company's stock, valued at approximately $3,464,000.

A number of other hedge funds also recently made changes to their positions in TSN. Park Square Financial Group LLC bought a new stake in Tyson Foods in the 4th quarter worth approximately $25,000. Curat Global LLC purchased a new position in shares of Tyson Foods in the first quarter valued at $28,000. Ossiam increased its position in Tyson Foods by 41.6% in the fourth quarter. Ossiam now owns 626 shares of the company's stock worth $36,000 after purchasing an additional 184 shares during the last quarter. Rossby Financial LCC purchased a new stake in Tyson Foods during the first quarter valued at $53,000. Finally, Transce3nd LLC bought a new position in Tyson Foods during the fourth quarter valued at $54,000. 67.00% of the stock is currently owned by hedge funds and other institutional investors.

Tyson Foods Trading Up 1.3%

Shares of TSN traded up $0.71 during trading hours on Friday, reaching $57.05. 2,497,277 shares of the company traded hands, compared to its average volume of 2,803,840. The firm has a market cap of $20.32 billion, a price-to-earnings ratio of 25.93, a PEG ratio of 0.77 and a beta of 0.59. The stock's fifty day moving average price is $54.86 and its 200 day moving average price is $57.55. Tyson Foods, Inc. has a 12-month low of $51.85 and a 12-month 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.

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 (EPS) for the quarter, topping the consensus estimate of $0.72 by $0.19. The company had revenue of $13.88 billion for the quarter, compared to analysts' expectations of $13.54 billion. Tyson Foods had a return on equity of 7.49% and a net margin of 1.45%. Tyson Foods's revenue was up 4.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.87 earnings per share. Sell-side analysts forecast that Tyson Foods, Inc. will post 3.8 earnings per share for the current year.

Tyson Foods declared that its Board of Directors has initiated a stock buyback program on Thursday, August 7th that allows the company to buyback 43,000,000 outstanding shares. This buyback authorization allows the company to repurchase shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company's board of directors believes its shares are undervalued.

Tyson Foods Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 1st will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 3.5%. The ex-dividend date is Monday, December 1st. Tyson Foods's payout ratio is presently 90.91%.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on TSN shares. JP Morgan Cazenove decreased their target price on shares of Tyson Foods from $61.00 to $60.00 and set a "neutral" rating on the stock in a research report on Monday, July 7th. Stephens decreased their price objective on Tyson Foods from $61.00 to $55.00 in a research report on Tuesday, July 15th. JPMorgan Chase & Co. dropped their target price on Tyson Foods from $63.00 to $61.00 and set a "neutral" rating for the company in a report on Tuesday, May 6th. 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. Finally, The Goldman Sachs Group assumed coverage on shares of Tyson Foods in a research report on Monday, June 23rd. They set a "buy" rating and a $67.00 price objective on the stock. Thirteen equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average 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.