PDT Partners LLC Buys 13,657 Shares of Tyson Foods, Inc. $TSN

Key Points

• PDT Partners LLC increased its stake in Tyson Foods, Inc. by 33.1% during the first quarter, owning a total of 54,936 shares valued at approximately $3.5 million.
• Several other institutional investors have also modified their holdings in TSN, with notable increases including a 212.8% boost by Summit Global Investments.
• Tyson Foods announced a quarterly dividend of $0.50 per share, contributing to an annualized dividend yield of 3.5% and approved a stock buyback program for 43 million shares.

PDT Partners LLC lifted its position in Tyson Foods, Inc. (NYSE:TSN - Free Report) by 33.1% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 54,936 shares of the company's stock after purchasing an additional 13,657 shares during the quarter. PDT Partners LLC's holdings in Tyson Foods were worth $3,505,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of TSN. Davis Selected Advisers boosted its holdings in shares of Tyson Foods by 51.9% in the 1st quarter. Davis Selected Advisers now owns 4,679,582 shares of the company's stock worth $298,604,000 after purchasing an additional 1,598,896 shares in the last quarter. Pacer Advisors Inc. boosted its holdings in Tyson Foods by 4,207.2% during the 1st quarter. Pacer Advisors Inc. now owns 1,635,237 shares of the company's stock valued at $104,344,000 after acquiring an additional 1,597,272 shares during the period. Pzena Investment Management LLC boosted its holdings in Tyson Foods by 10.6% during the 1st 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. Nuveen LLC purchased a new stake in Tyson Foods during the 1st quarter valued at about $41,582,000. Finally, GAMMA Investing LLC boosted its holdings in Tyson Foods by 5,809.7% during the 1st quarter. GAMMA Investing LLC now owns 461,665 shares of the company's stock valued at $29,459,000 after acquiring an additional 453,853 shares during the period. 67.00% of the stock is currently owned by hedge funds and other institutional investors.

Tyson Foods Stock Down 0.1%

TSN stock traded down $0.03 on Friday, reaching $56.15. 2,013,532 shares of the company traded hands, compared to its average volume of 2,706,719. Tyson Foods, Inc. has a one year low of $51.85 and a one year high of $66.88. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.73 and a quick ratio of 0.78. The company has a market cap of $19.98 billion, a P/E ratio of 25.52, a price-to-earnings-growth ratio of 0.77 and a beta of 0.59. The firm has a fifty day simple moving average of $55.50 and a 200-day simple moving average of $57.50.

Tyson Foods (NYSE:TSN - Get Free Report) last posted its quarterly earnings data on Monday, August 4th. The company reported $0.91 earnings per share for the quarter, beating analysts' consensus estimates of $0.72 by $0.19. Tyson Foods had a return on equity of 7.49% and a net margin of 1.45%.The company had revenue of $13.88 billion during the quarter, compared to analyst estimates of $13.54 billion. During the same quarter last year, the company earned $0.87 EPS. The firm's revenue for the quarter was up 4.0% on a year-over-year basis. Tyson Foods has set its FY 2025 guidance at EPS. Research 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 approved a stock repurchase plan on Thursday, August 7th that allows the company to buyback 43,000,000 outstanding shares. This buyback authorization allows the company to repurchase shares of its stock through open market purchases. Stock buyback plans are often an indication that the company's management believes its stock is undervalued.

Tyson Foods Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 1st will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 3.6%. The ex-dividend date is Monday, December 1st. Tyson Foods's dividend payout ratio (DPR) is currently 90.91%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on TSN shares. Bernstein Bank cut Tyson Foods to a "market perform" rating and dropped their target price for the company from $74.00 to $59.00 in a report on Wednesday, July 23rd. JPMorgan Chase & Co. began coverage on Tyson Foods in a report on Wednesday, August 20th. They set a "neutral" rating and a $60.00 target price for the company. Sanford C. Bernstein lowered Tyson Foods from an "outperform" rating to a "market perform" rating and lowered their price target for the company from $74.00 to $59.00 in a research report on Wednesday, July 23rd. JP Morgan Cazenove lowered their price target on Tyson Foods from $61.00 to $60.00 and set a "neutral" rating for the company in a research report on Monday, July 7th. Finally, BMO Capital Markets lowered their price target 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. Two equities research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $61.25.

Tyson Foods Company 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.