OP Asset Management Ltd Takes Position in Tyson Foods, Inc. $TSN

Key Points

• OP Asset Management opened a new position in Tyson Foods during the first quarter, buying 28,650 shares valued at about $1.84 million.
• Institutional interest in TSN remains high, with 67% of the stock owned by hedge funds and other institutional investors; several firms also recently increased their holdings.
• Tyson Foods reported better-than-expected quarterly earnings and revenue, and the company also announced a quarterly dividend of $0.51 per share, yielding about 3.5%.

OP Asset Management Ltd purchased a new stake in shares of Tyson Foods, Inc. (NYSE:TSN - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 28,650 shares of the company's stock, valued at approximately $1,836,000.

Several other hedge funds have also recently bought and sold shares of the business. Assenagon Asset Management S.A. grew its stake in Tyson Foods by 85.7% during the 1st quarter. Assenagon Asset Management S.A. now owns 892,807 shares of the company's stock valued at $57,202,000 after acquiring an additional 412,100 shares in the last quarter. Cidel Asset Management Inc. lifted its position in shares of Tyson Foods by 19.1% in the first quarter. Cidel Asset Management Inc. now owns 9,477 shares of the company's stock worth $607,000 after purchasing an additional 1,521 shares in the last quarter. Krilogy Financial LLC boosted its holdings in shares of Tyson Foods by 4.3% during the first quarter. Krilogy Financial LLC now owns 18,412 shares of the company's stock worth $1,178,000 after purchasing an additional 761 shares during the period. Everstar Asset Management LLC boosted its holdings in shares of Tyson Foods by 1.7% during the first quarter. Everstar Asset Management LLC now owns 19,813 shares of the company's stock worth $1,269,000 after purchasing an additional 327 shares during the period. Finally, BI Asset Management Fondsmaeglerselskab A S grew its position in Tyson Foods by 42.1% during the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 22,239 shares of the company's stock valued at $1,425,000 after purchasing an additional 6,592 shares in the last quarter. 67.00% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

TSN has been the subject of a number of research analyst reports. Mizuho initiated coverage on shares of Tyson Foods in a research report on Thursday, March 26th. They issued an "outperform" rating and a $72.00 target price for the company. JPMorgan Chase & Co. dropped their price target on shares of Tyson Foods from $67.00 to $65.00 and set a "neutral" rating on the stock in a research note on Tuesday, March 24th. BMO Capital Markets reiterated an "outperform" rating on shares of Tyson Foods in a report on Tuesday, May 5th. Wall Street Zen cut Tyson Foods from a "buy" rating to a "hold" rating in a research report on Saturday, June 20th. Finally, Piper Sandler restated an "overweight" rating and issued a $78.00 target price (down from $80.00) on shares of Tyson Foods in a research note on Thursday, June 18th. Four equities research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. According to MarketBeat, Tyson Foods has a consensus rating of "Hold" and a consensus price target of $68.20.

Tyson Foods Stock Down 0.0%

TSN stock opened at $58.54 on Monday. The firm has a market cap of $20.61 billion, a PE ratio of 46.09, a PEG ratio of 1.18 and a beta of 0.38. Tyson Foods, Inc. has a 1 year low of $50.56 and a 1 year high of $69.48. The company has a fifty day simple moving average of $62.13 and a 200 day simple moving average of $61.83. The company has a current ratio of 1.83, a quick ratio of 0.70 and a debt-to-equity ratio of 0.44.

Tyson Foods (NYSE:TSN - Get Free Report) last posted its earnings results on Monday, May 4th. The company reported $0.87 EPS for the quarter, topping the consensus estimate of $0.76 by $0.11. Tyson Foods had a net margin of 0.81% and a return on equity of 7.59%. The firm had revenue of $13.65 billion for the quarter, compared to the consensus estimate of $13.63 billion. During the same period in the prior year, the business posted $0.92 earnings per share. The business's quarterly revenue was up 4.4% on a year-over-year basis. Sell-side analysts anticipate that Tyson Foods, Inc. will post 4.16 EPS for the current fiscal year.

Tyson Foods Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st will be paid a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date of this dividend is Tuesday, September 1st. Tyson Foods's dividend payout ratio (DPR) is presently 160.63%.

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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