Hsbc Holdings PLC Sells 120,793 Shares of Tyson Foods, Inc. $TSN

Key Points

• Hsbc Holdings PLC reduced its stake in Tyson Foods, Inc. by 17.1% in Q1, owning 584,513 shares worth approximately $37.24 million after selling 120,793 shares.
• Tyson Foods reported an earnings per share (EPS) of $0.91 for the last quarter, exceeding estimates and showing a 4.0% revenue growth year-over-year.
• The company has initiated a stock repurchase program allowing it to buy back 43 million outstanding shares, signaling a belief that its stock may be undervalued.

Hsbc Holdings PLC lowered its position in Tyson Foods, Inc. (NYSE:TSN - Free Report) by 17.1% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 584,513 shares of the company's stock after selling 120,793 shares during the period. Hsbc Holdings PLC owned 0.16% of Tyson Foods worth $37,244,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of TSN. First Trust Advisors LP raised its stake in shares of Tyson Foods by 348.4% in the fourth quarter. First Trust Advisors LP now owns 373,876 shares of the company's stock valued at $21,475,000 after acquiring an additional 290,501 shares during the last quarter. MetLife Investment Management LLC raised its position in Tyson Foods by 1.8% in the 4th quarter. MetLife Investment Management LLC now owns 75,576 shares of the company's stock worth $4,341,000 after purchasing an additional 1,339 shares during the last quarter. MML Investors Services LLC raised its position in Tyson Foods by 11.8% in the 4th quarter. MML Investors Services LLC now owns 32,028 shares of the company's stock worth $1,840,000 after purchasing an additional 3,371 shares during the last quarter. State of Tennessee Department of Treasury raised its position in Tyson Foods by 35.1% in the 4th quarter. State of Tennessee Department of Treasury now owns 83,960 shares of the company's stock worth $4,823,000 after purchasing an additional 21,811 shares during the last quarter. Finally, Syon Capital LLC raised its position in shares of Tyson Foods by 5.1% during the 4th quarter. Syon Capital LLC now owns 3,563 shares of the company's stock valued at $205,000 after acquiring an additional 174 shares during the last quarter. Institutional investors own 67.00% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on TSN. Wall Street Zen cut Tyson Foods from a "buy" rating to a "hold" rating in a report on Tuesday, May 6th. BMO Capital Markets reduced their target price on Tyson Foods from $62.00 to $58.00 and set a "market perform" rating on the stock in a report on Monday, July 28th. Bernstein Bank cut shares of Tyson Foods to a "market perform" rating and lowered their price objective for the company from $74.00 to $59.00 in a research report on Wednesday, July 23rd. JPMorgan Chase & Co. began coverage on shares of Tyson Foods in a research report on Wednesday, August 20th. They issued a "neutral" rating and a $60.00 price objective for the company. Finally, Sanford C. Bernstein cut shares of Tyson Foods from an "outperform" rating to a "market perform" rating and lowered their price objective for the company from $74.00 to $59.00 in a research report on Wednesday, July 23rd. Two equities research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $61.25.

Tyson Foods Stock Performance

Shares of TSN stock traded down $0.1270 on Monday, reaching $57.4830. The stock had a trading volume of 2,159,826 shares, compared to its average volume of 2,779,620. The firm's 50-day moving average is $55.19 and its two-hundred day moving average is $57.56. The firm has a market capitalization of $20.45 billion, a price-to-earnings ratio of 26.13, a P/E/G ratio of 0.78 and a beta of 0.59. The company has a quick ratio of 0.78, a current ratio of 1.73 and a debt-to-equity ratio of 0.44. Tyson Foods, Inc. has a 12 month low of $51.85 and a 12 month high of $66.88.

Tyson Foods (NYSE:TSN - Get Free Report) last announced its quarterly earnings results on Monday, August 4th. The company reported $0.91 earnings per share for the quarter, topping analysts' consensus estimates of $0.72 by $0.19. The firm had revenue of $13.88 billion for the quarter, compared to the consensus estimate of $13.54 billion. Tyson Foods had a return on equity of 7.49% and a net margin of 1.45%.The business's revenue was up 4.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.87 earnings per share. Tyson Foods has set its FY 2025 guidance at EPS. On average, research analysts expect that Tyson Foods, Inc. will post 3.8 EPS for the current fiscal year.

Tyson Foods Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 1st will be paid a dividend of $0.50 per share. The ex-dividend date is Monday, December 1st. This represents a $2.00 annualized dividend and a yield of 3.5%. Tyson Foods's dividend payout ratio is presently 90.91%.

Tyson Foods declared that its Board of Directors has approved a stock buyback program on Thursday, August 7th that allows the company to buyback 43,000,000 shares. This buyback authorization allows the company to reacquire shares of its stock through open market purchases. Shares buyback programs are typically an indication that the company's management believes its shares are undervalued.

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.