OLD National Bancorp IN Sells 151,800 Shares of Tyson Foods, Inc. $TSN

Key Points

• OLD National Bancorp IN sold 151,800 shares of Tyson Foods in Q4, cutting its stake by 47.6% to 167,030 shares worth about $9.79 million, while institutional investors own roughly 67% of the company.
• Analyst consensus is a "Hold" with an average target of $66.45, though brokers diverge (Barclays raised its target to $78 while JPMorgan lowered theirs to $65).
• Dividend and valuation: Tyson announced a $0.51 quarterly dividend (3.1% yield) but shows a very high payout ratio of 364%, and the stock trades near $65 with a P/E around 115.85.

OLD National Bancorp IN reduced its holdings in shares of Tyson Foods, Inc. (NYSE:TSN - Free Report) by 47.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 167,030 shares of the company's stock after selling 151,800 shares during the period. OLD National Bancorp IN's holdings in Tyson Foods were worth $9,791,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. CIBC Private Wealth Group LLC raised its holdings in Tyson Foods by 10.6% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 1,862 shares of the company's stock worth $101,000 after purchasing an additional 179 shares during the period. Matrix Trust Co increased its position in Tyson Foods by 28.8% in the fourth quarter. Matrix Trust Co now owns 818 shares of the company's stock worth $48,000 after buying an additional 183 shares in the last quarter. Generali Investments Towarzystwo Funduszy Inwestycyjnych increased its position in Tyson Foods by 10.0% in the third quarter. Generali Investments Towarzystwo Funduszy Inwestycyjnych now owns 2,200 shares of the company's stock worth $119,000 after buying an additional 200 shares in the last quarter. Focus Partners Advisor Solutions LLC raised its stake in shares of Tyson Foods by 1.2% in the third quarter. Focus Partners Advisor Solutions LLC now owns 18,074 shares of the company's stock worth $975,000 after buying an additional 210 shares during the period. Finally, Harbor Capital Advisors Inc. raised its stake in shares of Tyson Foods by 93.1% in the third quarter. Harbor Capital Advisors Inc. now owns 473 shares of the company's stock worth $26,000 after buying an additional 228 shares during the period. Institutional investors own 67.00% of the company's stock.

Wall Street Analysts Forecast Growth

TSN has been the topic of several analyst reports. Barclays lifted their price target on shares of Tyson Foods from $75.00 to $78.00 and gave the company an "overweight" rating in a report on Tuesday, February 3rd. Weiss Ratings reissued a "hold (c-)" rating on shares of Tyson Foods in a report on Monday, December 29th. JPMorgan Chase & Co. dropped their price objective on Tyson Foods from $67.00 to $65.00 and set a "neutral" rating for the company in a research note on Tuesday, March 24th. Sanford C. Bernstein reiterated a "market perform" rating and set a $69.00 target price on shares of Tyson Foods in a research report on Tuesday, February 3rd. Finally, Argus raised Tyson Foods to a "hold" rating in a research note on Friday, February 6th. Five analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $66.45.

Tyson Foods Trading Up 0.7%

Shares of TSN stock opened at $64.99 on Thursday. The company has a current ratio of 1.53, a quick ratio of 0.66 and a debt-to-equity ratio of 0.41. The stock has a market capitalization of $22.88 billion, a price-to-earnings ratio of 115.85, a price-to-earnings-growth ratio of 1.40 and a beta of 0.44. Tyson Foods, Inc. has a 12-month low of $50.56 and a 12-month high of $66.41. The stock's 50-day moving average price is $63.02 and its 200-day moving average price is $59.23.

Tyson Foods (NYSE:TSN - Get Free Report) last announced its quarterly earnings results on Monday, February 2nd. The company reported $0.97 EPS for the quarter, missing analysts' consensus estimates of $1.01 by ($0.04). Tyson Foods had a net margin of 0.36% and a return on equity of 7.67%. The firm had revenue of $14.31 billion for the quarter, compared to the consensus estimate of $14.11 billion. During the same period in the previous year, the company posted $1.14 earnings per share. Tyson Foods's quarterly revenue was up 5.1% on a year-over-year basis. Equities research analysts predict that Tyson Foods, Inc. will post 3.95 EPS for the current fiscal year.

Tyson Foods Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Monday, June 1st will be issued a $0.51 dividend. The ex-dividend date of this dividend is Monday, June 1st. This represents a $2.04 dividend on an annualized basis and a dividend yield of 3.1%. Tyson Foods's dividend payout ratio (DPR) is 364.29%.

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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