Summit Global Investments Grows Stock Holdings in Tyson Foods, Inc. (NYSE:TSN)

Summit Global Investments lifted its stake in Tyson Foods, Inc. (NYSE:TSN - Free Report) by 212.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 230,921 shares of the company's stock after purchasing an additional 157,092 shares during the period. Tyson Foods makes up 1.1% of Summit Global Investments' investment portfolio, making the stock its 11th largest holding. Summit Global Investments owned 0.06% of Tyson Foods worth $14,735,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in TSN. Barclays PLC lifted its stake in shares of Tyson Foods by 66.1% in the third quarter. Barclays PLC now owns 1,122,285 shares of the company's stock valued at $66,841,000 after purchasing an additional 446,648 shares during the period. Exchange Traded Concepts LLC lifted its stake in shares of Tyson Foods by 4.6% in the fourth quarter. Exchange Traded Concepts LLC now owns 8,007 shares of the company's stock valued at $460,000 after purchasing an additional 352 shares during the period. Blue Trust Inc. raised its position in Tyson Foods by 16.3% during the fourth quarter. Blue Trust Inc. now owns 5,890 shares of the company's stock worth $351,000 after acquiring an additional 827 shares during the last quarter. Pacer Advisors Inc. raised its position in Tyson Foods by 32.3% during the fourth quarter. Pacer Advisors Inc. now owns 37,965 shares of the company's stock worth $2,181,000 after acquiring an additional 9,274 shares during the last quarter. Finally, R Squared Ltd acquired a new position in Tyson Foods during the fourth quarter worth about $175,000. Institutional investors and hedge funds own 67.00% of the company's stock.

Tyson Foods Trading Up 0.1%

Tyson Foods stock traded up $0.08 during trading on Friday, reaching $56.20. The company had a trading volume of 4,838,677 shares, compared to its average volume of 2,382,825. Tyson Foods, Inc. has a 12-month low of $53.61 and a 12-month high of $66.88. The stock's 50 day moving average price is $58.88 and its two-hundred day moving average price is $59.28. The firm has a market capitalization of $20.02 billion, a price-to-earnings ratio of 18.99, a PEG ratio of 0.74 and a beta of 0.63. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.04 and a current ratio of 2.11.

Tyson Foods (NYSE:TSN - Get Free Report) last released its earnings results on Monday, May 5th. The company reported $0.92 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.85 by $0.07. Tyson Foods had a net margin of 1.96% and a return on equity of 6.87%. The firm had revenue of $13.07 billion during the quarter, compared to the consensus estimate of $13.15 billion. During the same period in the previous year, the firm earned $0.62 earnings per share. Tyson Foods's revenue was up .0% compared to the same quarter last year. As a group, equities analysts expect that Tyson Foods, Inc. will post 3.8 earnings per share for the current fiscal year.

Tyson Foods Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 12th. Shareholders of record on Friday, August 29th will be paid a dividend of $0.50 per share. The ex-dividend date of this dividend is Friday, August 29th. This represents a $2.00 annualized dividend and a yield of 3.56%. Tyson Foods's dividend payout ratio is currently 77.82%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on TSN shares. HSBC upgraded shares of Tyson Foods from a "reduce" rating to a "hold" rating in a research report on Monday, February 3rd. Piper Sandler upgraded shares of Tyson Foods from an "underweight" rating to a "neutral" rating and set a $58.00 target price for the company in a research report on Tuesday, February 4th. Wall Street Zen cut shares of Tyson Foods from a "buy" rating to a "hold" rating in a research report on Tuesday, May 6th. Hsbc Global Res upgraded shares of Tyson Foods from a "moderate sell" rating to a "hold" rating in a report on Monday, February 3rd. Finally, Citigroup lifted their price target on shares of Tyson Foods from $59.00 to $60.00 and gave the stock a "neutral" rating in a report on Tuesday, April 15th. Ten research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, Tyson Foods has a consensus rating of "Hold" and an average price target of $62.63.

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.