Praxis Investment Management Inc. Sells 9,790 Shares of Tyson Foods, Inc. $TSN

Key Points

• Praxis Investment Management Inc. reduced its position in Tyson Foods by 60.5% in the 2nd quarter, selling 9,790 shares and leaving it with a total of 6,380 shares valued at approximately $357,000.
• The company announced a share buyback program authorizing the repurchase of 43 million shares, indicating the board's belief that the shares may be undervalued.
• Tyson Foods reported better-than-expected earnings of $0.91 per share for the last quarter, surpassing analysts’ expectations and showing a 4% increase in revenue year-over-year.

Praxis Investment Management Inc. lessened its position in Tyson Foods, Inc. (NYSE:TSN - Free Report) by 60.5% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 6,380 shares of the company's stock after selling 9,790 shares during the period. Praxis Investment Management Inc.'s holdings in Tyson Foods were worth $357,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC lifted its position in Tyson Foods by 96.7% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 34,835 shares of the company's stock worth $2,223,000 after buying an additional 17,127 shares in the last quarter. Janney Montgomery Scott LLC acquired a new position in Tyson Foods during the 1st quarter valued at about $1,658,000. State of Alaska Department of Revenue raised its position in shares of Tyson Foods by 2.8% in the 1st quarter. State of Alaska Department of Revenue now owns 33,516 shares of the company's stock valued at $2,138,000 after acquiring an additional 925 shares during the period. Johnson Investment Counsel Inc. acquired a new stake in shares of Tyson Foods in the 1st quarter valued at approximately $207,000. Finally, Envestnet Portfolio Solutions Inc. raised its position in shares of Tyson Foods by 73.1% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 20,874 shares of the company's stock valued at $1,332,000 after acquiring an additional 8,813 shares during the period. Institutional investors and hedge funds own 67.00% of the company's stock.

Tyson Foods Trading Up 0.7%

NYSE TSN opened at $52.53 on Friday. The company has a market cap of $18.69 billion, a PE ratio of 23.88, a PEG ratio of 0.86 and a beta of 0.57. The company has a current ratio of 1.73, a quick ratio of 0.78 and a debt-to-equity ratio of 0.44. Tyson Foods, Inc. has a 12 month low of $51.07 and a 12 month high of $65.95. The stock has a 50 day moving average of $55.04 and a 200-day moving average of $56.00.

Tyson Foods (NYSE:TSN - Get Free Report) last announced its quarterly earnings results 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. Tyson Foods had a return on equity of 7.49% and a net margin of 1.45%.The business had revenue of $13.88 billion during the quarter, compared to the consensus estimate of $13.54 billion. During the same quarter last year, the firm posted $0.87 EPS. The company's quarterly revenue was up 4.0% on a year-over-year basis. Tyson Foods has set its FY 2025 guidance at EPS. On average, equities research analysts anticipate that Tyson Foods, Inc. will post 3.8 EPS for the current fiscal year.

Tyson Foods declared that its Board of Directors has approved a share buyback program on Thursday, August 7th that authorizes the company to repurchase 43,000,000 outstanding shares. This repurchase authorization authorizes the company to buy shares of its stock through open market purchases. Stock repurchase programs are usually a sign that the company's board believes its shares are undervalued.

Tyson Foods Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 1st will be issued a dividend of $0.50 per share. The ex-dividend date of this dividend is Monday, December 1st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.8%. Tyson Foods's dividend payout ratio (DPR) is currently 90.91%.

Analysts Set New Price Targets

A number of research firms recently issued reports on TSN. JPMorgan Chase & Co. began coverage on Tyson Foods in a research note on Wednesday, August 20th. They set a "neutral" rating and a $60.00 target price for the company. BMO Capital Markets decreased their price target 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. The Goldman Sachs Group assumed coverage on shares of Tyson Foods in a research note on Monday, June 23rd. They set a "buy" rating and a $67.00 price target for the company. Stephens decreased their price target on shares of Tyson Foods from $61.00 to $55.00 in a research note on Tuesday, July 15th. Finally, Santander assumed coverage on shares of Tyson Foods in a research note on Thursday, September 25th. They set a "neutral" rating for the company. Two investment analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $60.92.

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.

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