State of New Jersey Common Pension Fund D Sells 8,632 Shares of Tyson Foods, Inc. $TSN

Key Points

• The State of New Jersey Common Pension Fund D reduced its holdings in Tyson Foods, Inc. by 8.3%, holding 94,762 shares valued at approximately $6.05 million at the end of the most recent reporting period.
• Tyson Foods reported earnings of $0.91 per share, exceeding analysts' expectations, with a revenue of $13.88 billion for the quarter, representing a 4% year-over-year increase.
• The company announced a quarterly dividend of $0.50 to be paid on December 15, 2023, with a current dividend yield of 3.6% and a payout ratio of 90.91%.

State of New Jersey Common Pension Fund D lessened its stake in shares of Tyson Foods, Inc. (NYSE:TSN - Free Report) by 8.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 94,762 shares of the company's stock after selling 8,632 shares during the quarter. State of New Jersey Common Pension Fund D's holdings in Tyson Foods were worth $6,047,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of TSN. Mariner LLC increased its holdings in Tyson Foods by 53.2% during the 4th quarter. Mariner LLC now owns 67,473 shares of the company's stock valued at $3,876,000 after purchasing an additional 23,442 shares in the last quarter. CreativeOne Wealth LLC acquired a new stake in Tyson Foods during the 4th quarter valued at $257,000. XTX Topco Ltd acquired a new stake in Tyson Foods during the 4th quarter valued at $515,000. CANADA LIFE ASSURANCE Co increased its holdings in Tyson Foods by 5.2% during the 4th quarter. CANADA LIFE ASSURANCE Co now owns 173,840 shares of the company's stock valued at $9,980,000 after purchasing an additional 8,659 shares in the last quarter. Finally, Forum Financial Management LP increased its holdings in Tyson Foods by 49.9% during the 4th quarter. Forum Financial Management LP now owns 5,984 shares of the company's stock valued at $344,000 after purchasing an additional 1,991 shares in the last quarter. 67.00% of the stock is owned by institutional investors and hedge funds.

Tyson Foods Trading Up 1.1%

Shares of NYSE:TSN traded up $0.6160 during midday trading on Friday, hitting $57.5860. The company had a trading volume of 1,986,836 shares, compared to its average volume of 2,773,614. Tyson Foods, Inc. has a 12 month low of $51.85 and a 12 month high of $66.88. The company has a current ratio of 1.73, a quick ratio of 0.78 and a debt-to-equity ratio of 0.44. The stock has a market cap of $20.49 billion, a price-to-earnings ratio of 26.18, a PEG ratio of 0.79 and a beta of 0.59. The firm has a fifty day simple moving average of $55.14 and a 200 day simple moving average of $57.56.

Tyson Foods (NYSE:TSN - Get Free Report) last posted its quarterly earnings results on Monday, August 4th. The company reported $0.91 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to analyst estimates of $13.54 billion. During the same period last year, the company earned $0.87 EPS. The firm's revenue was up 4.0% on a year-over-year basis. Tyson Foods has set its FY 2025 guidance at EPS. On average, analysts predict that Tyson Foods, Inc. will post 3.8 EPS for the current year.

Tyson Foods Announces Dividend

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 3.5%. The ex-dividend date is Monday, December 1st. Tyson Foods's dividend payout ratio (DPR) is currently 90.91%.

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

Wall Street Analyst Weigh In

A number of research firms recently weighed in on TSN. JPMorgan Chase & Co. began coverage on Tyson Foods in a report on Wednesday. They set a "neutral" rating and a $60.00 price target for the company. Sanford C. Bernstein cut Tyson Foods from an "outperform" rating to a "market perform" rating and lowered their target price for the company from $74.00 to $59.00 in a research note on Wednesday, July 23rd. Bernstein Bank cut Tyson Foods to a "market perform" rating and lowered their target price for the company from $74.00 to $59.00 in a research note on Wednesday, July 23rd. The Goldman Sachs Group initiated coverage on Tyson Foods in a research note on Monday, June 23rd. They issued a "buy" rating and a $67.00 target price for the company. Finally, JP Morgan Cazenove lowered their target price on Tyson Foods from $61.00 to $60.00 and set a "neutral" rating for the company in a research note on Monday, July 7th. Two analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company's stock. According to MarketBeat, the company currently has a consensus 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.