Convergence Investment Partners LLC Sells 9,409 Shares of Tyson Foods, Inc. (NYSE:TSN)

Convergence Investment Partners LLC cut its position in shares of Tyson Foods, Inc. (NYSE:TSN - Free Report) by 20.9% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 35,525 shares of the company's stock after selling 9,409 shares during the quarter. Convergence Investment Partners LLC's holdings in Tyson Foods were worth $2,267,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Envestnet Portfolio Solutions Inc. raised its holdings in shares of Tyson Foods by 14.6% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 12,061 shares of the company's stock worth $693,000 after purchasing an additional 1,532 shares in the last quarter. Bessemer Group Inc. grew its stake in Tyson Foods by 11.3% during the 1st quarter. Bessemer Group Inc. now owns 6,399 shares of the company's stock valued at $408,000 after acquiring an additional 651 shares in the last quarter. Tabor Asset Management LP purchased a new stake in shares of Tyson Foods during the 1st quarter worth about $2,180,000. VELA Investment Management LLC boosted its position in Tyson Foods by 45.6% during the first quarter. VELA Investment Management LLC now owns 17,678 shares of the company's stock worth $1,128,000 after purchasing an additional 5,537 shares during the period. Finally, World Investment Advisors lifted its holdings in shares of Tyson Foods by 54.2% during the first quarter. World Investment Advisors now owns 14,861 shares of the company's stock worth $948,000 after buying an additional 5,226 shares during the last quarter. Institutional investors own 67.00% of the company's stock.

Analyst Ratings Changes

Several brokerages have issued reports on TSN. Sanford C. Bernstein lowered shares of Tyson Foods from an "outperform" rating to a "market perform" rating and lowered their price target for the company from $74.00 to $59.00 in a report on Wednesday. Wall Street Zen downgraded shares of Tyson Foods from a "buy" rating to a "hold" rating in a research note on Tuesday, May 6th. The Goldman Sachs Group assumed coverage on shares of Tyson Foods in a research report on Monday, June 23rd. They issued a "buy" rating and a $67.00 price target on the stock. Stephens cut their price objective on Tyson Foods from $63.00 to $61.00 and set an "equal weight" rating on the stock in a report on Tuesday, May 6th. Finally, JPMorgan Chase & Co. reduced their price target on Tyson Foods from $63.00 to $61.00 and set a "neutral" rating for the company in a research report on Tuesday, May 6th. Eleven analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $62.70.

Tyson Foods Price Performance

NYSE TSN traded down $0.37 during midday trading on Thursday, hitting $54.02. The company had a trading volume of 1,694,834 shares, compared to its average volume of 2,705,556. The company has a market capitalization of $19.24 billion, a PE ratio of 21.02, a P/E/G ratio of 0.74 and a beta of 0.59. Tyson Foods, Inc. has a twelve month low of $52.71 and a twelve month high of $66.88. The company has a current ratio of 1.67, a quick ratio of 0.69 and a debt-to-equity ratio of 0.44. The firm has a 50-day moving average price of $55.28 and a 200-day moving average price of $57.67.

Tyson Foods (NYSE:TSN - Get Free Report) last announced its quarterly earnings data on Monday, May 5th. The company reported $0.92 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.85 by $0.07. The firm had revenue of $13.07 billion for the quarter, compared to the consensus estimate of $13.15 billion. Tyson Foods had a net margin of 1.70% and a return on equity of 7.43%. The business's revenue for the quarter was up .0% on a year-over-year basis. During the same period in the prior year, the company posted $0.62 earnings per share. As a group, analysts anticipate that Tyson Foods, Inc. will post 3.8 earnings per share for the current fiscal year.

Tyson Foods Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 12th. Stockholders of record on Friday, August 29th will be issued a $0.50 dividend. The ex-dividend date is Friday, August 29th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.70%. Tyson Foods's dividend payout ratio (DPR) is currently 77.82%.

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.