Perpetual Ltd Purchases New Holdings in Tyson Foods, Inc. $TSN

Key Points

• Perpetual Ltd has acquired a stake in Tyson Foods, purchasing 22,832 shares valued at approximately $1.3 million in Q2 2023.
• Tyson Foods' recent quarterly earnings beat expectations, reporting an EPS of $0.91 against a consensus estimate of $0.72, with revenue reaching $13.88 billion.
• The company has authorized a stock buyback program for 43 million shares, signaling that the board believes its shares are undervalued.

Perpetual Ltd acquired a new position in shares of Tyson Foods, Inc. (NYSE:TSN - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 22,832 shares of the company's stock, valued at approximately $1,277,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position in Tyson Foods by 0.7% during the 1st 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 period. Pzena Investment Management LLC boosted its position 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 purchasing an additional 1,271,750 shares during the period. Northern Trust Corp boosted its position in Tyson Foods by 0.8% during the 1st quarter. Northern Trust Corp now owns 4,737,737 shares of the company's stock valued at $302,315,000 after purchasing an additional 36,941 shares during the period. Davis Selected Advisers boosted its position in Tyson Foods by 51.9% during the 1st quarter. Davis Selected Advisers now owns 4,679,582 shares of the company's stock valued at $298,604,000 after purchasing an additional 1,598,896 shares during the period. Finally, AQR Capital Management LLC boosted its position in Tyson Foods by 776.8% during the 1st quarter. AQR Capital Management LLC now owns 2,842,627 shares of the company's stock valued at $180,933,000 after purchasing an additional 2,518,416 shares during the period. Institutional investors and hedge funds own 67.00% of the company's stock.

Tyson Foods Price Performance

TSN traded up $0.14 during trading on Monday, hitting $53.73. The company's stock had a trading volume of 3,111,202 shares, compared to its average volume of 2,700,818. The firm's 50 day moving average price is $55.29 and its two-hundred day moving average price is $57.06. 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 12 month low of $51.85 and a 12 month high of $65.95. The stock has a market capitalization of $19.11 billion, a price-to-earnings ratio of 24.42, a price-to-earnings-growth ratio of 0.73 and a beta of 0.59.

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

Tyson Foods Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 1st will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date is Monday, December 1st. Tyson Foods's dividend payout ratio is currently 90.91%.

Tyson Foods declared that its board has authorized a stock repurchase program on Thursday, August 7th that permits the company to buyback 43,000,000 shares. This buyback authorization permits the company to repurchase shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company's board of directors believes its shares are undervalued.

Analyst Ratings Changes

Several brokerages have recently weighed in on TSN. Bernstein Bank lowered Tyson Foods to a "market perform" rating and cut their price objective for the company from $74.00 to $59.00 in a report on Wednesday, July 23rd. Sanford C. Bernstein lowered Tyson Foods from an "outperform" rating to a "market perform" rating and dropped their price target for the company from $74.00 to $59.00 in a research report on Wednesday, July 23rd. JP Morgan Cazenove dropped their target price on Tyson Foods from $61.00 to $60.00 and set a "neutral" rating on the stock in a research report on Monday, July 7th. BMO Capital Markets lowered their price objective on Tyson Foods from $62.00 to $58.00 and set a "market perform" rating on the stock in a report on Monday, July 28th. Finally, Stephens lowered their target price on Tyson Foods from $61.00 to $55.00 in a report on Tuesday, July 15th. Two investment analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price 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.