TD Asset Management Inc Decreases Stake in Tyson Foods, Inc. $TSN

Key Points

• TD Asset Management Inc has reduced its stake in Tyson Foods, Inc. by 20.6%, selling 26,444 shares and holding a total of 101,755 shares worth approximately $5.69 million as of the end of the second quarter.
• Tyson Foods reported $0.91 EPS for the quarter, exceeding the consensus estimate of $0.72, with revenue increasing by 4.0% year-over-year to reach $13.88 billion.
• The company announced a stock buyback program to repurchase up to 43 million shares, reflecting the board's belief that the shares are undervalued.

TD Asset Management Inc reduced its stake in Tyson Foods, Inc. (NYSE:TSN - Free Report) by 20.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 101,755 shares of the company's stock after selling 26,444 shares during the period. TD Asset Management Inc's holdings in Tyson Foods were worth $5,692,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the stock. Credit Industriel ET Commercial purchased a new position in Tyson Foods in the 2nd quarter worth approximately $364,000. NorthRock Partners LLC increased its stake in Tyson Foods by 17.1% in the 2nd quarter. NorthRock Partners LLC now owns 25,804 shares of the company's stock worth $1,443,000 after purchasing an additional 3,759 shares during the period. Sequoia Financial Advisors LLC increased its stake in Tyson Foods by 65.0% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 16,374 shares of the company's stock worth $916,000 after purchasing an additional 6,452 shares during the period. Total Clarity Wealth Management Inc. increased its stake in Tyson Foods by 40.7% in the 2nd quarter. Total Clarity Wealth Management Inc. now owns 6,857 shares of the company's stock worth $384,000 after purchasing an additional 1,982 shares during the period. Finally, Yousif Capital Management LLC increased its stake in Tyson Foods by 38.2% in the 2nd quarter. Yousif Capital Management LLC now owns 52,268 shares of the company's stock worth $2,924,000 after purchasing an additional 14,455 shares during the period. 67.00% of the stock is owned by hedge funds and other institutional investors.

Tyson Foods Trading Up 0.7%

Tyson Foods stock opened at $52.53 on Monday. 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 business's fifty day simple moving average is $55.04 and its two-hundred day simple moving average is $55.95. Tyson Foods, Inc. has a 12 month low of $51.07 and a 12 month high of $65.95. The company has a market capitalization of $18.69 billion, a price-to-earnings ratio of 23.88, a price-to-earnings-growth ratio of 0.86 and a beta of 0.57.

Tyson Foods (NYSE:TSN - Get Free Report) last released its earnings results on Monday, August 4th. The company reported $0.91 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 the consensus estimate of $13.54 billion. During the same period in the previous year, the company posted $0.87 earnings per share. The company's revenue for the quarter was up 4.0% compared to the same quarter last year. Tyson Foods has set its FY 2025 guidance at EPS. As a group, equities analysts predict that Tyson Foods, Inc. will post 3.8 earnings per share for the current fiscal year.

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

Tyson Foods Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 1st will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 3.8%. The ex-dividend date of this dividend is Monday, December 1st. Tyson Foods's payout ratio is 90.91%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on TSN shares. JP Morgan Cazenove cut their price objective on Tyson Foods from $61.00 to $60.00 and set a "neutral" rating on the stock in a research report on Monday, July 7th. Zacks Research lowered Tyson Foods from a "hold" rating to a "strong sell" rating in a research report on Wednesday, October 1st. The Goldman Sachs Group started coverage on Tyson Foods in a research report on Monday, June 23rd. They issued a "buy" rating and a $67.00 price objective on the stock. BMO Capital Markets cut their price objective on Tyson Foods from $62.00 to $58.00 and set a "market perform" rating on the stock in a research report on Monday, July 28th. Finally, Sanford C. Bernstein cut Tyson Foods from an "outperform" rating to a "market perform" rating and reduced their price target for the stock from $74.00 to $59.00 in a research note on Wednesday, July 23rd. Two research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $60.92.

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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