Perigon Wealth Management LLC Purchases New Shares in Tyson Foods, Inc. $TSN

Key Points

• Perigon Wealth Management LLC has acquired 4,869 shares of Tyson Foods valued at approximately $272,000 in the 2nd quarter, signaling growing institutional interest in the company.
• Tyson Foods reported a quarterly EPS of $0.91, surpassing expectations, with revenues reaching $13.88 billion, which is a 4% increase from the previous year.
• The company has announced a share repurchase plan authorizing the buyback of up to 43 million shares, indicating the board believes the stock is undervalued.

Perigon Wealth Management LLC acquired a new position in shares of Tyson Foods, Inc. (NYSE:TSN - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 4,869 shares of the company's stock, valued at approximately $272,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Curat Global LLC purchased a new position in shares of Tyson Foods during the 1st quarter worth about $28,000. Zions Bancorporation National Association UT bought a new stake in Tyson Foods in the first quarter worth about $28,000. Matrix Trust Co boosted its position in shares of Tyson Foods by 28,200.0% during the second quarter. Matrix Trust Co now owns 566 shares of the company's stock valued at $32,000 after buying an additional 564 shares during the period. Armstrong Advisory Group Inc. grew its stake in shares of Tyson Foods by 130.6% during the second quarter. Armstrong Advisory Group Inc. now owns 685 shares of the company's stock valued at $38,000 after buying an additional 388 shares during the last quarter. Finally, Rossby Financial LCC purchased a new stake in shares of Tyson Foods in the first quarter worth approximately $53,000. Hedge funds and other institutional investors own 67.00% of the company's stock.

Tyson Foods Trading Up 0.6%

NYSE:TSN opened at $54.31 on Wednesday. The firm has a 50-day simple moving average of $55.33 and a 200-day simple moving average of $56.75. Tyson Foods, Inc. has a one year low of $51.85 and a one year high of $65.95. The firm has a market cap of $19.32 billion, a P/E ratio of 24.69, a P/E/G ratio of 0.73 and a beta of 0.59. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.78 and a current ratio of 1.73.

Tyson Foods (NYSE:TSN - Get Free Report) last issued its quarterly earnings data on Monday, August 4th. The company reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.72 by $0.19. The company had revenue of $13.88 billion for the quarter, compared to analyst estimates of $13.54 billion. Tyson Foods had a net margin of 1.45% and a return on equity of 7.49%. Tyson Foods's revenue was up 4.0% compared to the same quarter last year. During the same period last year, the company posted $0.87 earnings per share. Tyson Foods has set its FY 2025 guidance at EPS. Equities analysts anticipate that Tyson Foods, Inc. will post 3.8 EPS for the current fiscal year.

Tyson Foods announced that its Board of Directors has authorized a share repurchase plan on Thursday, August 7th that authorizes the company to buyback 43,000,000 outstanding shares. This buyback authorization authorizes the company to buy shares of its stock through open market purchases. Shares buyback plans are usually an indication that the company's board of directors believes its shares are undervalued.

Tyson Foods Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 1st will be given a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 3.7%. The ex-dividend date of this dividend is Monday, December 1st. Tyson Foods's payout ratio is presently 90.91%.

Analysts Set New Price Targets

A number of research firms recently issued reports on TSN. The Goldman Sachs Group began coverage on Tyson Foods in a report on Monday, June 23rd. They set a "buy" rating and a $67.00 price objective for the company. BMO Capital Markets lowered their target price on shares of Tyson Foods from $62.00 to $58.00 and set a "market perform" rating for the company in a research note on Monday, July 28th. Santander began coverage on shares of Tyson Foods in a research note on Thursday, September 25th. They issued a "neutral" rating on the stock. Sanford C. Bernstein cut shares of Tyson Foods from an "outperform" rating to a "market perform" rating and lowered their price objective for the company from $74.00 to $59.00 in a research report on Wednesday, July 23rd. Finally, JPMorgan Chase & Co. assumed coverage on shares of Tyson Foods in a research note on Wednesday, August 20th. They issued a "neutral" rating and a $60.00 target price on the stock. Two investment analysts have rated the stock with a Buy rating and thirteen have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Tyson Foods presently has an average rating of "Hold" and an average price target of $61.25.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.