KBC Group NV Sells 21,055 Shares of Tyson Foods, Inc. $TSN

Key Points

• KBC Group NV cut its Tyson Foods stake by 43.5% in the first quarter, selling 21,055 shares and leaving it with 27,297 shares worth about $1.75 million.
• Tyson Foods reported better-than-expected quarterly results, posting EPS of $0.87 versus estimates of $0.76 and revenue of $13.65 billion, up 4.4% from a year earlier.
• The company continues to pay a sizable dividend and has mixed analyst sentiment, with a quarterly payout of $0.51 per share yielding 3.5% and a Wall Street consensus rating of “Hold” with an average price target of $70.88.

KBC Group NV lessened its stake in shares of Tyson Foods, Inc. (NYSE:TSN - Free Report) by 43.5% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 27,297 shares of the company's stock after selling 21,055 shares during the quarter. KBC Group NV's holdings in Tyson Foods were worth $1,749,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Norges Bank acquired a new stake in Tyson Foods during the fourth quarter worth approximately $308,297,000. Davis Selected Advisers grew its position in shares of Tyson Foods by 28.8% in the fourth quarter. Davis Selected Advisers now owns 12,827,540 shares of the company's stock valued at $751,951,000 after purchasing an additional 2,865,413 shares during the last quarter. Life Cycle Investment Partners Ltd acquired a new position in shares of Tyson Foods in the fourth quarter valued at approximately $165,220,000. Pzena Investment Management LLC increased its stake in shares of Tyson Foods by 12.1% during the first quarter. Pzena Investment Management LLC now owns 17,155,713 shares of the company's stock worth $1,099,167,000 after purchasing an additional 1,845,200 shares during the period. Finally, AQR Capital Management LLC increased its stake in shares of Tyson Foods by 34.4% during the third quarter. AQR Capital Management LLC now owns 6,726,796 shares of the company's stock worth $363,852,000 after purchasing an additional 1,720,009 shares during the period. Institutional investors and hedge funds own 67.00% of the company's stock.

Tyson Foods Price Performance

Tyson Foods stock opened at $57.47 on Friday. The stock's fifty day moving average price is $59.04 and its two-hundred day moving average price is $61.73. Tyson Foods, Inc. has a one year low of $50.56 and a one year high of $69.48. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.83 and a quick ratio of 0.70. The firm has a market cap of $20.24 billion, a PE ratio of 45.25, a price-to-earnings-growth ratio of 1.19 and a beta of 0.40.

Tyson Foods (NYSE:TSN - Get Free Report) last released its earnings results on Monday, May 4th. The company reported $0.87 earnings per share for the quarter, beating analysts' consensus estimates of $0.76 by $0.11. The firm had revenue of $13.65 billion during the quarter, compared to the consensus estimate of $13.63 billion. Tyson Foods had a return on equity of 7.59% and a net margin of 0.81%.The company's revenue was up 4.4% compared to the same quarter last year. During the same period in the prior year, the company posted $0.92 EPS. As a group, research analysts expect that Tyson Foods, Inc. will post 4.08 EPS for the current fiscal year.

Tyson Foods Announces Dividend

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

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on TSN shares. Sanford C. Bernstein reduced their price target on Tyson Foods from $72.00 to $63.00 and set a "market perform" rating for the company in a research note on Thursday, July 2nd. Piper Sandler reissued an "overweight" rating and set a $78.00 target price (down from $80.00) on shares of Tyson Foods in a report on Thursday, June 18th. BMO Capital Markets reissued 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 research note on Tuesday, May 5th. Finally, JPMorgan Chase & Co. lowered their price target on shares of Tyson Foods from $71.00 to $65.00 and set a "neutral" rating on the stock in a research report on Tuesday, July 14th. Four analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $70.88.

Tyson Foods 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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