Ranmore Fund Management Ltd Invests $3.19 Million in Tyson Foods, Inc. (NYSE:TSN)

Key Points

• Ranmore Fund Management Ltd has invested $3.19 million in Tyson Foods, acquiring 50,000 shares, making it the fund's 15th largest holding.
• In the 1st quarter, several institutional investors increased their stakes in Tyson Foods, including Davis Selected Advisers, which raised its position by 51.9%.
• Tyson Foods announced a quarterly dividend of $0.50 per share, with the dividend yield currently at 3.5% and a share buyback program authorized for up to 43 million shares.

Ranmore Fund Management Ltd purchased a new position in shares of Tyson Foods, Inc. (NYSE:TSN - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 50,000 shares of the company's stock, valued at approximately $3,190,000. Tyson Foods accounts for about 1.9% of Ranmore Fund Management Ltd's portfolio, making the stock its 15th largest holding.

Several other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. raised its holdings in shares of Tyson Foods by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 35,961,408 shares of the company's stock worth $2,294,697,000 after acquiring an additional 247,051 shares during the period. Pzena Investment Management LLC increased its position in shares of Tyson Foods by 10.6% during the 1st quarter. Pzena Investment Management LLC now owns 13,264,052 shares of the company's stock worth $846,379,000 after purchasing an additional 1,271,750 shares during the last quarter. Northern Trust Corp increased its position in shares of Tyson Foods by 2.6% during the 4th quarter. Northern Trust Corp now owns 4,700,796 shares of the company's stock worth $270,014,000 after purchasing an additional 118,402 shares during the last quarter. Davis Selected Advisers increased its position in shares of Tyson Foods by 51.9% during 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 during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Tyson Foods by 2.2% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 2,510,275 shares of the company's stock worth $160,181,000 after purchasing an additional 53,535 shares during the last quarter. Hedge funds and other institutional investors own 67.00% of the company's stock.

Analyst Ratings Changes

A number of analysts recently issued reports on TSN shares. BMO Capital Markets cut their price objective 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. Citigroup raised their price objective on Tyson Foods from $59.00 to $60.00 and gave the stock a "neutral" rating in a research report on Tuesday, April 15th. Sanford C. Bernstein downgraded Tyson Foods from an "outperform" rating to a "market perform" rating and cut their price objective for the stock from $74.00 to $59.00 in a research report on Wednesday, July 23rd. JP Morgan Cazenove cut their price objective 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, Stephens cut their price objective on Tyson Foods from $61.00 to $55.00 in a research report on Tuesday, July 15th. Thirteen investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, Tyson Foods currently has an average rating of "Hold" and an average price target of $61.33.

Tyson Foods Stock Performance

NYSE TSN opened at $56.73 on Tuesday. The company has a market cap of $20.18 billion, a P/E ratio of 25.79, a P/E/G ratio of 0.78 and a beta of 0.59. 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 stock has a 50-day moving average of $54.89 and a two-hundred day moving average of $57.58. Tyson Foods, Inc. has a 1-year low of $51.85 and a 1-year high of $66.88.

Tyson Foods (NYSE:TSN - Get Free Report) last announced its quarterly earnings data on Monday, August 4th. The company reported $0.91 EPS for the quarter, topping 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 business had revenue of $13.88 billion during the quarter, compared to the consensus estimate of $13.54 billion. During the same period in the previous year, the company posted $0.87 earnings per share. The business's revenue for the quarter was up 4.0% on a year-over-year basis. As a group, analysts anticipate that Tyson Foods, Inc. will post 3.8 EPS for the current year.

Tyson Foods declared that its Board of Directors has approved a share buyback program on Thursday, August 7th that authorizes the company to buyback 43,000,000 shares. This buyback authorization authorizes the company to purchase shares of its stock through open market purchases. Shares buyback programs are typically an indication that the company's board believes its stock is undervalued.

Tyson Foods Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 1st will be given 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 3.5%. Tyson Foods's payout ratio is currently 90.91%.

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.

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