Fifth Third Bancorp Boosts Holdings in Tyson Foods, Inc. $TSN

Key Points

• Fifth Third Bancorp significantly increased its stake in Tyson Foods in the first quarter, boosting holdings by 1,605.1% to 135,024 shares worth about $8.65 million.
• Tyson Foods reported better-than-expected quarterly earnings, posting $0.87 EPS versus the $0.76 estimate, with revenue of $13.65 billion slightly topping forecasts and rising 4.4% year over year.
• The company declared a quarterly dividend of $0.51 per share, while analyst sentiment remains cautious overall with a consensus Hold rating and average price target of $69.56.

Fifth Third Bancorp increased its position in shares of Tyson Foods, Inc. (NYSE:TSN - Free Report) by 1,605.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 135,024 shares of the company's stock after buying an additional 127,105 shares during the period. Fifth Third Bancorp's holdings in Tyson Foods were worth $8,651,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the company. City Holding Co. acquired a new stake in shares of Tyson Foods during the 4th quarter valued at approximately $29,000. Cary Street Partners Investment Advisory LLC boosted its holdings in Tyson Foods by 62.3% in the fourth quarter. Cary Street Partners Investment Advisory LLC now owns 516 shares of the company's stock worth $30,000 after purchasing an additional 198 shares during the period. Ascentis Independent Advisors acquired a new position in Tyson Foods in the first quarter worth $30,000. Cedar Mountain Advisors LLC increased its stake in Tyson Foods by 293.5% during the first quarter. Cedar Mountain Advisors LLC now owns 488 shares of the company's stock valued at $31,000 after purchasing an additional 364 shares during the last quarter. Finally, Activest Wealth Management raised its holdings in shares of Tyson Foods by 3,842.9% during the fourth quarter. Activest Wealth Management now owns 552 shares of the company's stock worth $32,000 after purchasing an additional 538 shares during the period. Institutional investors and hedge funds own 67.00% of the company's stock.

Tyson Foods Price Performance

Shares of NYSE:TSN opened at $57.41 on Thursday. The company has a market capitalization of $20.22 billion, a PE ratio of 45.21, a price-to-earnings-growth ratio of 1.19 and a beta of 0.40. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.70 and a current ratio of 1.83. The stock has a fifty day moving average of $60.40 and a 200-day moving average of $61.81. Tyson Foods, Inc. has a one year low of $50.56 and a one year high of $69.48.

Tyson Foods (NYSE:TSN - Get Free Report) last posted its quarterly earnings data on Monday, May 4th. The company reported $0.87 EPS for the quarter, beating analysts' consensus estimates of $0.76 by $0.11. Tyson Foods had a net margin of 0.81% and a return on equity of 7.59%. The company had revenue of $13.65 billion during the quarter, compared to analyst estimates of $13.63 billion. During the same period in the prior year, the firm earned $0.92 earnings per share. The business's quarterly revenue was up 4.4% on a year-over-year basis. As a group, equities analysts anticipate that Tyson Foods, Inc. will post 4.09 EPS for the current fiscal year.

Tyson Foods Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st will be given a $0.51 dividend. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $2.04 dividend on an annualized basis and a dividend yield of 3.6%. Tyson Foods's payout ratio is currently 160.63%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on TSN. Wall Street Zen downgraded Tyson Foods from a "buy" rating to a "hold" rating in a report on Saturday, June 20th. Bank of America lowered their price objective on Tyson Foods from $70.00 to $68.00 and set a "neutral" rating for the company in a research note on Thursday, July 2nd. Stephens increased their target price on Tyson Foods from $65.00 to $70.00 and gave the stock an "equal weight" rating in a research report on Tuesday, May 5th. Sanford C. Bernstein cut their target price on Tyson Foods from $72.00 to $63.00 and set a "market perform" rating on the stock in a research note on Thursday, July 2nd. Finally, BMO Capital Markets reissued an "outperform" rating on shares of Tyson Foods in a report on Tuesday, May 5th. Four research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Tyson Foods presently has a consensus rating of "Hold" and a consensus target price of $69.56.

About Tyson Foods

Tyson Foods, Inc NYSE: TSN is a multinational food company primarily engaged in the production, processing and marketing of protein-based and prepared food products. Founded in 1935 and headquartered in Springdale, Arkansas, the company is one of the world's largest processors of chicken, beef and pork. Its operations span live animal procurement and farming relationships through slaughter, further processing and distribution, supplying raw protein and value-added prepared foods to retail, foodservice and industrial customers.

The company's product portfolio covers fresh and frozen meats, branded and private-label prepared foods, and a range of value-added items such as ready-to-eat and ready-to-cook meals, snack and sandwich meats.

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