Contravisory Investment Management Inc. Purchases Shares of 8,302 Tyson Foods, Inc. $TSN

Key Points

• Contravisory Investment Management Inc. acquired 8,302 shares of Tyson Foods, Inc., valued at approximately $464,000, during the 2nd quarter.
• The company reported a quarterly earnings per share (EPS) of $0.91, exceeding expectations, with revenue up by 4% year-over-year.
• Tyson Foods announced a quarterly dividend of $0.50 per share, translating to an annualized yield of 3.7%, payable on December 15th.

Contravisory Investment Management Inc. bought a new stake in Tyson Foods, Inc. (NYSE:TSN - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 8,302 shares of the company's stock, valued at approximately $464,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its position in shares of Tyson Foods by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 35,961,408 shares of the company's stock valued at $2,294,697,000 after purchasing an additional 247,051 shares during the period. Pzena Investment Management LLC lifted its stake in Tyson Foods by 10.6% in the first quarter. Pzena Investment Management LLC now owns 13,264,052 shares of the company's stock valued at $846,379,000 after buying an additional 1,271,750 shares in the last quarter. Northern Trust Corp boosted its holdings in shares of Tyson Foods by 0.8% in the first quarter. Northern Trust Corp now owns 4,737,737 shares of the company's stock valued at $302,315,000 after buying an additional 36,941 shares during the period. Davis Selected Advisers increased its position in shares of Tyson Foods by 51.9% during the first quarter. Davis Selected Advisers now owns 4,679,582 shares of the company's stock worth $298,604,000 after acquiring an additional 1,598,896 shares in the last quarter. Finally, AQR Capital Management LLC raised its holdings in shares of Tyson Foods by 776.8% during the first quarter. AQR Capital Management LLC now owns 2,842,627 shares of the company's stock worth $180,933,000 after acquiring an additional 2,518,416 shares during the period. 67.00% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on TSN shares. Bernstein Bank lowered shares of Tyson Foods to a "market perform" rating and reduced their target price for the stock from $74.00 to $59.00 in a research note on Wednesday, July 23rd. BMO Capital Markets reduced their price objective on 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. JP Morgan Cazenove decreased their price objective on Tyson Foods from $61.00 to $60.00 and set a "neutral" rating for the company in a report on Monday, July 7th. Sanford C. Bernstein cut Tyson Foods from an "outperform" rating to a "market perform" rating and cut their target price for the company from $74.00 to $59.00 in a research note on Wednesday, July 23rd. Finally, Stephens reduced their price target on Tyson Foods from $61.00 to $55.00 in a research report on Tuesday, July 15th. Two equities research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company. According to data from MarketBeat.com, Tyson Foods has an average rating of "Hold" and an average target price of $61.25.

Tyson Foods Stock Performance

TSN stock traded down $0.41 during trading hours on Friday, reaching $53.60. The stock had a trading volume of 3,710,797 shares, compared to its average volume of 2,421,474. The stock has a 50-day simple moving average of $55.29 and a 200 day simple moving average of $57.11. Tyson Foods, Inc. has a fifty-two week low of $51.85 and a fifty-two week high of $65.95. The stock has a market capitalization of $19.07 billion, a PE ratio of 24.36, a price-to-earnings-growth ratio of 0.74 and a beta of 0.59. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.73 and a quick ratio of 0.78.

Tyson Foods (NYSE:TSN - Get Free Report) last released its quarterly earnings data on Monday, August 4th. The company reported $0.91 earnings per share 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 company had revenue of $13.88 billion for the quarter, compared to analyst estimates of $13.54 billion. During the same period in the previous year, the business earned $0.87 EPS. Tyson Foods's revenue for the quarter was up 4.0% compared to the same quarter last year. Tyson Foods has set its FY 2025 guidance at EPS. Analysts predict that Tyson Foods, Inc. will post 3.8 EPS for the current fiscal year.

Tyson Foods announced that its Board of Directors has initiated a stock repurchase plan on Thursday, August 7th that allows the company to buyback 43,000,000 shares. This buyback authorization allows the company to buy shares of its stock through open market purchases. Shares buyback plans are generally a sign that the company's board of directors believes its stock is undervalued.

Tyson Foods Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 1st will be issued a dividend of $0.50 per share. The ex-dividend date of this dividend is Monday, December 1st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.7%. Tyson Foods's payout ratio is presently 90.91%.

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.