CCM Investment Group LLC Acquires Shares of 19,525 Tyson Foods, Inc. (NYSE:TSN)

Key Points

• CCM Investment Group LLC has acquired a new stake of 19,525 shares in Tyson Foods, valued at approximately $1,218,000.
• Tyson Foods recently reported earnings per share of $0.91, exceeding analysts' estimates of $0.72, alongside a revenue increase of 4.0% year-over-year.
• The company announced a quarterly dividend of $0.50 per share, with a payout ratio of 90.91%, and initiated a share buyback program allowing for the repurchase of up to 43 million shares.

CCM Investment Group LLC acquired a new position in shares of Tyson Foods, Inc. (NYSE:TSN - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 19,525 shares of the company's stock, valued at approximately $1,218,000.

A number of other hedge funds also recently made changes to their positions in the stock. Nuveen LLC bought a new position in shares of Tyson Foods during the 1st quarter valued at $41,582,000. Cooper Financial Group bought a new position in shares of Tyson Foods during the 1st quarter valued at $217,000. Sierra Summit Advisors LLC grew its holdings in shares of Tyson Foods by 3.9% during the 1st quarter. Sierra Summit Advisors LLC now owns 20,647 shares of the company's stock valued at $1,317,000 after purchasing an additional 770 shares during the last quarter. Covestor Ltd grew its holdings in shares of Tyson Foods by 54.4% during the 1st quarter. Covestor Ltd now owns 3,262 shares of the company's stock valued at $208,000 after purchasing an additional 1,149 shares during the last quarter. Finally, Frank Rimerman Advisors LLC grew its holdings in shares of Tyson Foods by 23.0% during the 1st quarter. Frank Rimerman Advisors LLC now owns 4,526 shares of the company's stock valued at $289,000 after purchasing an additional 847 shares during the last quarter. 67.00% of the stock is owned by institutional investors.

Tyson Foods Trading Up 0.7%

Shares of NYSE:TSN traded up $0.42 on Friday, hitting $56.72. The company had a trading volume of 673,665 shares, compared to its average volume of 2,716,480. The firm's 50-day simple moving average is $54.97 and its two-hundred day simple moving average is $57.56. Tyson Foods, Inc. has a 1 year low of $51.85 and a 1 year high of $66.88. The company has a quick ratio of 0.78, a current ratio of 1.73 and a debt-to-equity ratio of 0.44. The firm has a market capitalization of $20.18 billion, a price-to-earnings ratio of 25.78, a P/E/G ratio of 0.79 and a beta of 0.59.

Tyson Foods (NYSE:TSN - Get Free Report) last posted its earnings results on Monday, August 4th. The company reported $0.91 EPS for the quarter, topping the consensus estimate of $0.72 by $0.19. Tyson Foods had a net margin of 1.45% and a return on equity of 7.49%. The firm had revenue of $13.88 billion during the quarter, compared to analysts' expectations of $13.54 billion. During the same period last year, the company posted $0.87 EPS. The company's quarterly revenue was up 4.0% compared to the same quarter last year. Equities analysts anticipate that Tyson Foods, Inc. will post 3.8 earnings per share for the current fiscal year.

Tyson Foods Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 1st will be paid 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 dividend payout ratio (DPR) is presently 90.91%.

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

Wall Street Analysts Forecast Growth

Several research firms recently commented on TSN. Stephens reduced their target price on shares of Tyson Foods from $61.00 to $55.00 in a report on Tuesday, July 15th. Bernstein Bank cut shares of Tyson Foods to a "market perform" rating and dropped their price target for the company from $74.00 to $59.00 in a research report on Wednesday, July 23rd. BMO Capital Markets dropped their price target on shares of Tyson Foods from $62.00 to $58.00 and set a "market perform" rating for the company in a research report on Monday, July 28th. Wall Street Zen cut shares of Tyson Foods from a "buy" rating to a "hold" rating in a research report on Tuesday, May 6th. Finally, JP Morgan Cazenove dropped their price target on shares of Tyson Foods from $61.00 to $60.00 and set a "neutral" rating for the company in a research report on Monday, July 7th. Thirteen equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat, Tyson Foods currently has an average rating of "Hold" and an average target price of $61.33.

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.