Tyson Foods, Inc. $TSN Shares Sold by Bank of New York Mellon Corp

Key Points

• Bank of New York Mellon Corp reduced its Tyson Foods stake by 6.4% in the first quarter, selling 108,126 shares and leaving it with 1,586,065 shares valued at about $101.6 million.
• Wall Street sentiment is mixed to cautious: several firms trimmed price targets, and the stock’s consensus rating is Hold with an average target of $69.56.
• Tyson Foods reported quarterly EPS of $0.87, topping expectations, and it also announced a quarterly dividend of $0.51 per share payable September 15, implying a 3.5% yield.

Bank of New York Mellon Corp lowered its position in Tyson Foods, Inc. (NYSE:TSN - Free Report) by 6.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,586,065 shares of the company's stock after selling 108,126 shares during the quarter. Bank of New York Mellon Corp owned 0.45% of Tyson Foods worth $101,619,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. City Holding Co. acquired a new position in Tyson Foods during the fourth quarter worth about $29,000. Cary Street Partners Investment Advisory LLC grew its position in shares of Tyson Foods by 62.3% in the fourth quarter. Cary Street Partners Investment Advisory LLC now owns 516 shares of the company's stock valued at $30,000 after purchasing an additional 198 shares during the last quarter. Ascentis Independent Advisors purchased a new position in shares of Tyson Foods during the 1st quarter worth approximately $30,000. Cedar Mountain Advisors LLC increased its stake in shares of Tyson Foods by 293.5% during the 1st quarter. Cedar Mountain Advisors LLC now owns 488 shares of the company's stock worth $31,000 after purchasing an additional 364 shares in the last quarter. Finally, Activest Wealth Management raised its position in shares of Tyson Foods by 3,842.9% during the 4th quarter. Activest Wealth Management now owns 552 shares of the company's stock worth $32,000 after purchasing an additional 538 shares during the last quarter. Institutional investors and hedge funds own 67.00% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. JPMorgan Chase & Co. reduced their price objective on Tyson Foods from $71.00 to $65.00 and set a "neutral" rating on the stock in a research report on Tuesday, July 14th. Bank of America dropped their price objective on Tyson Foods from $70.00 to $68.00 and set a "neutral" rating for the company in a research report on Thursday, July 2nd. BMO Capital Markets reissued an "outperform" rating on shares of Tyson Foods in a research note on Tuesday, May 5th. Wall Street Zen cut shares of Tyson Foods from a "buy" rating to a "hold" rating in a research note on Saturday, June 20th. Finally, Weiss Ratings lowered shares of Tyson Foods from a "hold (c+)" rating to a "hold (c)" rating in a research report on Thursday, July 9th. Four analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $69.56.

Tyson Foods Stock Performance

Tyson Foods stock opened at $58.08 on Tuesday. The stock has a fifty day moving average price of $59.81 and a 200 day moving average price of $61.80. Tyson Foods, Inc. has a 52 week low of $50.56 and a 52 week high of $69.48. The firm has a market capitalization of $20.45 billion, a P/E ratio of 45.73, a PEG ratio of 1.19 and a beta of 0.40. The company has a current ratio of 1.83, a quick ratio of 0.70 and a debt-to-equity ratio of 0.44.

Tyson Foods (NYSE:TSN - Get Free Report) last issued its quarterly earnings results on Monday, May 4th. The company reported $0.87 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.76 by $0.11. Tyson Foods had a return on equity of 7.59% and a net margin of 0.81%.The firm had revenue of $13.65 billion for the quarter, compared to analyst estimates of $13.63 billion. During the same period last year, the company earned $0.92 EPS. The firm's quarterly revenue was up 4.4% on a year-over-year basis. Equities research analysts anticipate that Tyson Foods, Inc. will post 4.12 earnings per share for the current year.

Tyson Foods Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st will be given a dividend of $0.51 per share. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $2.04 annualized dividend and a yield of 3.5%. Tyson Foods's dividend payout ratio is 160.63%.

Tyson Foods Company 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.

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