Hsbc Holdings PLC Increases Stake in Tyson Foods, Inc. $TSN

Key Points

• HSBC Holdings PLC increased its Tyson Foods stake by 57.8% in the first quarter, buying 340,671 additional shares and bringing its total to 930,379 shares worth about $59.6 million.
• Several other institutional investors also adjusted positions in Tyson Foods, and institutions now own 67% of the company’s stock, highlighting continued strong institutional interest.
• Analysts are mixed on TSN: the stock currently carries an average Hold rating with a $69.56 price target, while Tyson recently beat quarterly EPS and revenue estimates and declared a $0.51 quarterly dividend.

Hsbc Holdings PLC grew its position in Tyson Foods, Inc. (NYSE:TSN - Free Report) by 57.8% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 930,379 shares of the company's stock after buying an additional 340,671 shares during the period. Hsbc Holdings PLC owned approximately 0.26% of Tyson Foods worth $59,560,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Norges Bank purchased a new stake in shares of Tyson Foods during the fourth quarter valued at approximately $308,297,000. Davis Selected Advisers raised its holdings in Tyson Foods by 28.8% in the 4th quarter. Davis Selected Advisers now owns 12,827,540 shares of the company's stock worth $751,951,000 after acquiring an additional 2,865,413 shares during the last quarter. Life Cycle Investment Partners Ltd bought a new position in Tyson Foods in the 4th quarter valued at approximately $165,220,000. Pzena Investment Management LLC boosted its stake in Tyson Foods by 12.1% during the 1st quarter. Pzena Investment Management LLC now owns 17,155,713 shares of the company's stock valued at $1,099,167,000 after purchasing an additional 1,845,200 shares during the last quarter. Finally, AQR Capital Management LLC boosted its stake in Tyson Foods by 34.4% during the 3rd quarter. AQR Capital Management LLC now owns 6,726,796 shares of the company's stock valued at $363,852,000 after purchasing an additional 1,720,009 shares during the last quarter. Institutional investors own 67.00% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on TSN shares. Wall Street Zen cut Tyson Foods from a "buy" rating to a "hold" rating in a research note on Saturday, June 20th. JPMorgan Chase & Co. dropped their price objective on Tyson Foods from $71.00 to $65.00 and set a "neutral" rating on the stock in a research report on Tuesday, July 14th. Weiss Ratings lowered Tyson Foods from a "hold (c+)" rating to a "hold (c)" rating in a research report on Thursday, July 9th. BMO Capital Markets restated an "outperform" rating on shares of Tyson Foods in a research note on Tuesday, May 5th. Finally, Piper Sandler reaffirmed an "overweight" rating and set a $78.00 price target (down from $80.00) on shares of Tyson Foods in a report on Thursday, June 18th. Four investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $69.56.

Tyson Foods Price Performance

NYSE TSN opened at $57.76 on Monday. The business's fifty day moving average price is $59.99 and its 200-day moving average price is $61.80. The stock has a market capitalization of $20.34 billion, a price-to-earnings ratio of 45.48, a PEG ratio of 1.19 and a beta of 0.40. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.83 and a quick ratio of 0.70. Tyson Foods, Inc. has a 1-year low of $50.56 and a 1-year high of $69.48.

Tyson Foods (NYSE:TSN - Get Free Report) last issued its quarterly earnings data on Monday, May 4th. The company reported $0.87 EPS for the quarter, topping the consensus estimate of $0.76 by $0.11. The company had revenue of $13.65 billion during the quarter, compared to analyst estimates of $13.63 billion. Tyson Foods had a return on equity of 7.59% and a net margin of 0.81%.Tyson Foods's revenue was up 4.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.92 earnings per share. On average, equities analysts predict that Tyson Foods, Inc. will post 4.12 earnings per share for the current year.

Tyson Foods Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st will be issued a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date of this dividend is Tuesday, September 1st. Tyson Foods's dividend payout ratio is currently 160.63%.

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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