Swiss National Bank Trims Position in Tyson Foods, Inc. $TSN

Key Points

• Swiss National Bank trimmed its stake in Tyson Foods by 4.8% in Q3, selling 41,400 shares and leaving it with 824,800 shares (0.23% of the company) valued at about $44.8 million.
• Tyson missed quarterly EPS at $0.97 versus a $1.01 estimate but beat revenue at $14.31 billion, and announced a $0.51 quarterly dividend (annualized $2.04) for a 3.3% yield while reporting a very high payout ratio of 364%.
• Analysts are mostly cautious with an average rating of Hold and an average price target of $64.27, though several firms recently raised targets (e.g., Barclays $78, BMO $73).

Swiss National Bank trimmed its position in shares of Tyson Foods, Inc. (NYSE:TSN - Free Report) by 4.8% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 824,800 shares of the company's stock after selling 41,400 shares during the period. Swiss National Bank owned 0.23% of Tyson Foods worth $44,787,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of TSN. Harbor Capital Advisors Inc. raised its holdings in Tyson Foods by 93.1% during the third quarter. Harbor Capital Advisors Inc. now owns 473 shares of the company's stock valued at $26,000 after acquiring an additional 228 shares during the period. Root Financial Partners LLC bought a new position in shares of Tyson Foods in the third quarter worth about $28,000. MTM Investment Management LLC bought a new position in shares of Tyson Foods in the second quarter worth about $36,000. Wilmington Savings Fund Society FSB grew its position in shares of Tyson Foods by 89.4% during the third quarter. Wilmington Savings Fund Society FSB now owns 682 shares of the company's stock worth $37,000 after purchasing an additional 322 shares in the last quarter. Finally, Caldwell Trust Co purchased a new stake in shares of Tyson Foods during the third quarter worth about $38,000. Institutional investors own 67.00% of the company's stock.

Analysts Set New Price Targets

TSN has been the topic of a number of research analyst reports. Piper Sandler boosted their price target on Tyson Foods from $58.00 to $61.00 and gave the stock a "neutral" rating in a report on Friday, December 12th. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Tyson Foods in a report on Monday, December 29th. BMO Capital Markets lifted their price objective on shares of Tyson Foods from $67.00 to $73.00 and gave the company an "outperform" rating in a research report on Tuesday, February 3rd. Sanford C. Bernstein reissued a "market perform" rating and issued a $69.00 target price on shares of Tyson Foods in a report on Tuesday, February 3rd. Finally, Barclays raised their target price on shares of Tyson Foods from $75.00 to $78.00 and gave the company an "overweight" rating in a research note on Tuesday, February 3rd. Three analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $64.27.

Tyson Foods Stock Performance

NYSE TSN opened at $60.98 on Friday. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.53 and a quick ratio of 0.66. Tyson Foods, Inc. has a 1-year low of $50.56 and a 1-year high of $66.41. The business has a 50 day simple moving average of $62.23 and a two-hundred day simple moving average of $57.61. The stock has a market capitalization of $21.47 billion, a PE ratio of 108.89, a P/E/G ratio of 1.32 and a beta of 0.47.

Tyson Foods (NYSE:TSN - Get Free Report) last issued its quarterly earnings data on Monday, February 2nd. The company reported $0.97 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.01 by ($0.04). The firm had revenue of $14.31 billion for the quarter, compared to analysts' expectations of $14.11 billion. Tyson Foods had a return on equity of 7.67% and a net margin of 0.36%.The firm's revenue was up 5.1% on a year-over-year basis. During the same period last year, the company earned $1.14 earnings per share. On average, research analysts predict that Tyson Foods, Inc. will post 3.8 EPS for the current fiscal year.

Tyson Foods Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Monday, June 1st will be paid a dividend of $0.51 per share. The ex-dividend date of this dividend is Monday, June 1st. This represents a $2.04 dividend on an annualized basis and a yield of 3.3%. Tyson Foods's dividend payout ratio is presently 364.29%.

Tyson Foods Profile

Tyson Foods, Inc NYSE: TSN is a multinational food company primarily engaged in the production, processing and marketing of protein-based and prepared food products. Founded in 1935 and headquartered in Springdale, Arkansas, the company is one of the world's largest processors of chicken, beef and pork. Its operations span live animal procurement and farming relationships through slaughter, further processing and distribution, supplying raw protein and value-added prepared foods to retail, foodservice and industrial customers.

The company's product portfolio covers fresh and frozen meats, branded and private-label prepared foods, and a range of value-added items such as ready-to-eat and ready-to-cook meals, snack and sandwich meats.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.