Mitsubishi UFJ Asset Management Co. Ltd. Has $33.54 Million Holdings in Tyson Foods, Inc. (NYSE:TSN)

Key Points

• Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in Tyson Foods by 13.5%, acquiring an additional 62,668 shares to own approximately 0.15% of the company worth $33.54 million.
• Tyson Foods reported earnings of $0.91 per share, exceeding analysts' expectations, with revenue of $13.88 billion for the quarter, marking a 4% year-over-year increase.
• The company initiated a stock buyback program authorizing the repurchase of 43 million shares, which typically indicates management believes the stock is undervalued.

Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in Tyson Foods, Inc. (NYSE:TSN - Free Report) by 13.5% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 525,686 shares of the company's stock after acquiring an additional 62,668 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned about 0.15% of Tyson Foods worth $33,544,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Park Square Financial Group LLC acquired a new stake in Tyson Foods during the 4th quarter worth approximately $25,000. Curat Global LLC purchased a new stake in shares of Tyson Foods in the first quarter valued at $28,000. Ossiam grew its position in shares of Tyson Foods by 41.6% in the fourth quarter. Ossiam now owns 626 shares of the company's stock valued at $36,000 after purchasing an additional 184 shares during the period. Rossby Financial LCC purchased a new stake in Tyson Foods during the first quarter valued at about $53,000. Finally, Transce3nd LLC purchased a new stake in Tyson Foods during the fourth quarter valued at about $54,000. Hedge funds and other institutional investors own 67.00% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on TSN. JPMorgan Chase & Co. cut their price target on Tyson Foods from $63.00 to $61.00 and set a "neutral" rating on the stock in a research note on Tuesday, May 6th. Sanford C. Bernstein lowered Tyson Foods from an "outperform" rating to a "market perform" rating and decreased their price target for the company from $74.00 to $59.00 in a research note on Wednesday, July 23rd. The Goldman Sachs Group began coverage on Tyson Foods in a research note on Monday, June 23rd. They set a "buy" rating and a $67.00 price objective for the company. BMO Capital Markets decreased their price objective on Tyson Foods from $62.00 to $58.00 and set a "market perform" rating for the company in a research report on Monday, July 28th. Finally, Bernstein Bank lowered Tyson Foods to a "market perform" rating and cut their target price for the company from $74.00 to $59.00 in a report on Wednesday, July 23rd. Thirteen investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat, Tyson Foods presently has a consensus rating of "Hold" and an average price target of $61.33.

Tyson Foods Price Performance

TSN stock traded up $1.24 during midday trading on Wednesday, reaching $57.68. 2,587,378 shares of the company's stock traded hands, compared to its average volume of 2,731,628. The company has a 50-day simple moving average of $54.91 and a two-hundred day simple moving average of $57.57. Tyson Foods, Inc. has a 1-year low of $51.85 and a 1-year high of $66.88. The company has a market cap of $20.52 billion, a price-to-earnings ratio of 26.22, a PEG 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 (NYSE:TSN - Get Free Report) last issued its earnings results on Monday, August 4th. The company reported $0.91 EPS for the quarter, beating the consensus estimate of $0.72 by $0.19. Tyson Foods had a net margin of 1.45% and a return on equity of 7.49%. The company had revenue of $13.88 billion during the quarter, compared to analysts' expectations of $13.54 billion. During the same quarter in the previous year, the company posted $0.87 EPS. The business's revenue for the quarter was up 4.0% compared to the same quarter last year. On average, analysts anticipate that Tyson Foods, Inc. will post 3.8 earnings per share for the current year.

Tyson Foods announced that its Board of Directors has initiated a stock buyback plan on Thursday, August 7th that permits the company to repurchase 43,000,000 shares. This repurchase authorization permits the company to purchase shares of its stock through open market purchases. Stock repurchase plans are often a sign that the company's board believes its stock is undervalued.

Tyson Foods Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 1st will be issued a $0.50 dividend. The ex-dividend date is Monday, December 1st. This represents a $2.00 annualized dividend and a dividend yield of 3.5%. Tyson Foods's dividend payout ratio (DPR) is presently 90.91%.

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.