Hennessy Advisors Inc. Acquires Shares of 34,068 Tyson Foods, Inc. $TSN

Key Points

• Hennessy Advisors acquired 34,068 Tyson Foods shares worth approximately $1.95 million during the second quarter. Institutional investors collectively own 67% of TSN.
• Analysts maintain a generally cautious outlook, with a consensus “Hold” rating and an average price target of $70.67. Tyson reported quarterly EPS of $0.99, in line with estimates, while revenue of $13.87 billion fell short of expectations.
• Tyson declared a quarterly dividend of $0.51 per share, equivalent to $2.04 annually and a 3.7% yield, although its payout ratio stands at 125.93%.

Hennessy Advisors Inc. acquired a new stake in shares of Tyson Foods, Inc. (NYSE:TSN - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 34,068 shares of the company's stock, valued at approximately $1,950,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of TSN. Quantinno Capital Management LP boosted its stake in Tyson Foods by 5.2% during the first quarter. Quantinno Capital Management LP now owns 1,282,438 shares of the company's stock valued at $82,166,000 after buying an additional 63,885 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in shares of Tyson Foods by 2.5% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 609,977 shares of the company's stock valued at $35,403,000 after buying an additional 14,858 shares in the last quarter. Swiss National Bank increased its stake in Tyson Foods by 6.1% during the first quarter. Swiss National Bank now owns 830,700 shares of the company's stock worth $53,223,000 after acquiring an additional 47,900 shares during the last quarter. Pzena Investment Management LLC boosted its holdings in shares of Tyson Foods by 10.7% in the 4th quarter. Pzena Investment Management LLC now owns 15,310,513 shares of the company's stock worth $897,502,000 after purchasing an additional 1,480,987 shares during the period. Finally, Great Lakes Advisors LLC bought a new stake in Tyson Foods in the second quarter worth $1,665,000. Institutional investors own 67.00% of the company's stock.

Analyst Ratings Changes

A number of research firms have weighed in on TSN. BMO Capital Markets reiterated an "outperform" rating on shares of Tyson Foods in a research report on Tuesday, May 5th. Stephens upped their price target on shares of Tyson Foods from $65.00 to $70.00 and gave the company an "equal weight" rating in a report on Tuesday, May 5th. JPMorgan Chase & Co. decreased their price objective on shares of Tyson Foods from $71.00 to $65.00 and set a "neutral" rating for the company in a research note on Tuesday, July 14th. HSBC dropped their target price on Tyson Foods from $74.00 to $69.00 and set a "hold" rating for the company in a research report on Wednesday, July 29th. Finally, Weiss Ratings downgraded Tyson Foods from a "hold (c+)" rating to a "hold (c)" rating in a report on Thursday, July 9th. Four research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $70.67.

Tyson Foods Price Performance

Shares of TSN stock opened at $55.43 on Monday. The company has a market capitalization of $19.50 billion, a P/E ratio of 34.22, a P/E/G ratio of 1.85 and a beta of 0.40. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.43 and a quick ratio of 0.55. Tyson Foods, Inc. has a one year low of $50.56 and a one year high of $69.48. The company's 50-day simple moving average is $57.97 and its two-hundred day simple moving average is $61.10.

Tyson Foods (NYSE:TSN - Get Free Report) last released its quarterly earnings data on Monday, August 3rd. The company reported $0.99 earnings per share for the quarter, meeting the consensus estimate of $0.99. The firm had revenue of $13.87 billion during the quarter, compared to the consensus estimate of $14.07 billion. Tyson Foods had a return on equity of 7.77% and a net margin of 1.03%.The firm's quarterly revenue was down .1% on a year-over-year basis. During the same period in the previous year, the company posted $0.91 earnings per share. As a group, equities analysts anticipate that Tyson Foods, Inc. will post 3.95 EPS for the current year.

Tyson Foods Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 15th. Stockholders of record on Tuesday, December 1st will be given a dividend of $0.51 per share. The ex-dividend date of this dividend is Tuesday, December 1st. This represents a $2.04 dividend on an annualized basis and a dividend yield of 3.7%. Tyson Foods's dividend payout ratio is presently 125.93%.

Tyson Foods Company Profile

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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