Tyson Foods, Inc. $TSN Shares Bought by Kayne Anderson Rudnick Investment Management LLC

Key Points

• Kayne Anderson Rudnick Investment Management LLC increased its stake in Tyson Foods by 11.4%, owning 49,488 shares valued at approximately $3.16 million.
• Tyson Foods announced a quarterly dividend of $0.50 per share, representing a 3.5% dividend yield, with an upcoming ex-dividend date of December 1st.
• Several institutional investors have significantly raised their holdings in Tyson Foods, indicating strong interest in the company amidst recent market fluctuations.

Kayne Anderson Rudnick Investment Management LLC increased its stake in shares of Tyson Foods, Inc. (NYSE:TSN - Free Report) by 11.4% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 49,488 shares of the company's stock after buying an additional 5,077 shares during the quarter. Kayne Anderson Rudnick Investment Management LLC's holdings in Tyson Foods were worth $3,158,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in TSN. Davis Selected Advisers grew its holdings in shares of Tyson Foods by 51.9% during the first quarter. Davis Selected Advisers now owns 4,679,582 shares of the company's stock worth $298,604,000 after buying an additional 1,598,896 shares during the last quarter. Pacer Advisors Inc. grew its holdings in shares of Tyson Foods by 4,207.2% during the first quarter. Pacer Advisors Inc. now owns 1,635,237 shares of the company's stock worth $104,344,000 after buying an additional 1,597,272 shares during the last quarter. Pzena Investment Management LLC raised its holdings in Tyson Foods by 10.6% during the first quarter. Pzena Investment Management LLC now owns 13,264,052 shares of the company's stock worth $846,379,000 after purchasing an additional 1,271,750 shares in the last quarter. Nuveen LLC purchased a new position in Tyson Foods during the first quarter worth about $41,582,000. Finally, GAMMA Investing LLC raised its holdings in Tyson Foods by 5,809.7% during the first quarter. GAMMA Investing LLC now owns 461,665 shares of the company's stock worth $29,459,000 after purchasing an additional 453,853 shares in the last quarter. Hedge funds and other institutional investors own 67.00% of the company's stock.

Analysts Set New Price Targets

Several research firms recently issued reports on TSN. JP Morgan Cazenove cut their price target on shares of Tyson Foods from $61.00 to $60.00 and set a "neutral" rating for the company in a report on Monday, July 7th. JPMorgan Chase & Co. started coverage on shares of Tyson Foods in a report on Wednesday, August 20th. They issued a "neutral" rating and a $60.00 target price for the company. BMO Capital Markets dropped their target price on shares of Tyson Foods from $62.00 to $58.00 and set a "market perform" rating for the company in a report on Monday, July 28th. Wall Street Zen cut shares of Tyson Foods from a "buy" rating to a "hold" rating in a report on Tuesday, May 6th. Finally, The Goldman Sachs Group started coverage on shares of Tyson Foods in a report on Monday, June 23rd. They issued a "buy" rating and a $67.00 target price for the company. Two investment analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $61.25.

Tyson Foods Trading Down 2.3%

NYSE TSN traded down $1.31 during mid-day trading on Thursday, reaching $56.13. 3,289,290 shares of the stock were exchanged, compared to its average volume of 2,805,666. Tyson Foods, Inc. has a 1-year low of $51.85 and a 1-year high of $66.88. The business's fifty day simple moving average is $55.34 and its 200 day simple moving average is $57.54. The stock has a market capitalization of $19.97 billion, a PE ratio of 25.51, a PEG ratio of 0.78 and a beta of 0.59. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.78 and a current ratio of 1.73.

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

Tyson Foods Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 1st will be given a dividend of $0.50 per share. The ex-dividend date is Monday, December 1st. This represents a $2.00 dividend on an annualized basis and a yield of 3.6%. Tyson Foods's dividend payout ratio (DPR) is 90.91%.

Tyson Foods announced that its Board of Directors has initiated a share buyback program on Thursday, August 7th that permits the company to buyback 43,000,000 outstanding shares. This buyback authorization permits the company to reacquire shares of its stock through open market purchases. Stock buyback programs are usually an indication that the company's board believes its shares are undervalued.

Tyson Foods 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.