MUFG Securities EMEA plc Has $1.40 Million Position in Tyson Foods, Inc. (NYSE:TSN)

Key Points

• MUFG Securities EMEA plc reduced its stake in Tyson Foods by 74.1%, selling 63,001 shares, leaving them with 21,999 shares valued at approximately $1.4 million.
• Recent analyst reports have led to price target reductions for Tyson Foods, with major firms adjusting their targets downwards, resulting in a consensus target price of $61.33.
• Tyson Foods announced a $0.50 quarterly dividend, to be paid on December 15th, reflecting an annualized dividend yield of 3.5%.

MUFG Securities EMEA plc lessened its stake in shares of Tyson Foods, Inc. (NYSE:TSN - Free Report) by 74.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 21,999 shares of the company's stock after selling 63,001 shares during the period. MUFG Securities EMEA plc's holdings in Tyson Foods were worth $1,404,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its holdings in Tyson Foods by 0.7% during the first quarter. Vanguard Group Inc. now owns 35,961,408 shares of the company's stock valued at $2,294,697,000 after purchasing an additional 247,051 shares during the last quarter. Pzena Investment Management LLC boosted its position in shares of Tyson Foods by 10.6% in the first quarter. Pzena Investment Management LLC now owns 13,264,052 shares of the company's stock valued at $846,379,000 after acquiring an additional 1,271,750 shares during the period. Northern Trust Corp boosted its position in shares of Tyson Foods by 2.6% in the fourth quarter. Northern Trust Corp now owns 4,700,796 shares of the company's stock valued at $270,014,000 after acquiring an additional 118,402 shares during the period. Davis Selected Advisers boosted its position in shares of Tyson Foods by 51.9% in the first quarter. Davis Selected Advisers now owns 4,679,582 shares of the company's stock valued at $298,604,000 after acquiring an additional 1,598,896 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Tyson Foods by 2.2% in the first quarter. Charles Schwab Investment Management Inc. now owns 2,510,275 shares of the company's stock valued at $160,181,000 after acquiring an additional 53,535 shares during the period. Institutional investors and hedge funds own 67.00% of the company's stock.

Tyson Foods Price Performance

Shares of NYSE:TSN traded up $1.08 during trading on Wednesday, reaching $57.52. 1,045,847 shares of the company traded hands, compared to its average volume of 2,721,816. The company's 50 day moving average is $54.91 and its two-hundred day moving average is $57.57. The firm has a market capitalization of $20.46 billion, a PE ratio of 26.12, 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, Inc. has a 52 week low of $51.85 and a 52 week high of $66.88.

Tyson Foods (NYSE:TSN - Get Free Report) last announced its quarterly earnings data on Monday, August 4th. The company reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.72 by $0.19. Tyson Foods had a return on equity of 7.49% and a net margin of 1.45%. The business had revenue of $13.88 billion during the quarter, compared to the consensus estimate of $13.54 billion. During the same period in the prior year, the company earned $0.87 EPS. Tyson Foods's revenue for the quarter was up 4.0% on a year-over-year basis. As a group, sell-side analysts predict that Tyson Foods, Inc. will post 3.8 earnings per share for the current year.

Tyson Foods announced that its Board of Directors has authorized a stock repurchase program on Thursday, August 7th that allows the company to buyback 43,000,000 shares. This buyback authorization allows the company to purchase shares of its stock through open market purchases. Stock buyback programs are often an indication that the company's leadership believes its shares are undervalued.

Tyson Foods Dividend Announcement

The firm also recently disclosed 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. This represents a $2.00 annualized dividend and a dividend yield of 3.5%. The ex-dividend date is Monday, December 1st. Tyson Foods's dividend payout ratio is currently 90.91%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on TSN shares. BMO Capital Markets reduced 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. The Goldman Sachs Group began coverage on Tyson Foods in a research report on Monday, June 23rd. They issued a "buy" rating and a $67.00 price objective for the company. Bernstein Bank cut Tyson Foods to a "market perform" rating and reduced their target price for the stock from $74.00 to $59.00 in a research report on Wednesday, July 23rd. Stephens reduced their target price on Tyson Foods from $61.00 to $55.00 in a research report on Tuesday, July 15th. Finally, JPMorgan Chase & Co. reduced their target price on Tyson Foods from $63.00 to $61.00 and set a "neutral" rating for the company in a research report on Tuesday, May 6th. Thirteen research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, Tyson Foods has a consensus rating of "Hold" and a consensus price target of $61.33.

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.