Hedges Asset Management LLC Decreases Position in Tyson Foods, Inc. $TSN

Key Points

• Hedges Asset Management LLC decreased its stake in Tyson Foods by 23.9%, selling 6,500 shares and bringing its total to 20,700 shares, valued at approximately $1.16 million.
• Tyson Foods reported better-than-expected earnings for the last quarter, with $0.91 EPS versus the consensus of $0.72, and a revenue increase of 4.0% year-over-year, totaling $13.88 billion.
• The company announced a share buyback plan allowing for the repurchase of up to 43 million shares, typically indicating management's belief that the stock is undervalued.

Hedges Asset Management LLC lowered its position in Tyson Foods, Inc. (NYSE:TSN - Free Report) by 23.9% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 20,700 shares of the company's stock after selling 6,500 shares during the period. Hedges Asset Management LLC's holdings in Tyson Foods were worth $1,158,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently bought and sold shares of TSN. AQR Capital Management LLC lifted its position in Tyson Foods by 776.8% during the first quarter. AQR Capital Management LLC now owns 2,842,627 shares of the company's stock valued at $180,933,000 after purchasing an additional 2,518,416 shares in the last quarter. Davis Selected Advisers lifted its position in Tyson Foods by 51.9% during the first quarter. Davis Selected Advisers now owns 4,679,582 shares of the company's stock valued at $298,604,000 after purchasing an additional 1,598,896 shares in the last quarter. Pacer Advisors Inc. lifted its position in shares of Tyson Foods by 4,207.2% in the first quarter. Pacer Advisors Inc. now owns 1,635,237 shares of the company's stock valued at $104,344,000 after acquiring an additional 1,597,272 shares in the last quarter. Pzena Investment Management LLC increased its holdings in shares of Tyson Foods by 10.6% in the first quarter. Pzena Investment Management LLC now owns 13,264,052 shares of the company's stock worth $846,379,000 after purchasing an additional 1,271,750 shares during the last quarter. Finally, Amundi increased its holdings in shares of Tyson Foods by 96.3% in the first quarter. Amundi now owns 1,556,812 shares of the company's stock worth $98,951,000 after purchasing an additional 763,887 shares during the last quarter. 67.00% of the stock is currently owned by hedge funds and other institutional investors.

Tyson Foods Stock Down 0.3%

Shares of TSN traded down $0.15 during midday trading on Friday, hitting $53.86. 1,236,622 shares of the company's stock traded hands, compared to its average volume of 2,688,090. Tyson Foods, Inc. has a 1 year low of $51.85 and a 1 year high of $65.95. The firm's fifty day moving average is $55.30 and its 200-day moving average is $57.16. 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 capitalization of $19.16 billion, a price-to-earnings ratio of 24.49, a price-to-earnings-growth ratio of 0.74 and a beta of 0.59.

Tyson Foods (NYSE:TSN - Get Free Report) last issued its quarterly earnings data on Monday, August 4th. The company reported $0.91 EPS for the quarter, beating 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 firm had revenue of $13.88 billion during the quarter, compared to analyst estimates of $13.54 billion. During the same quarter in the prior year, the business posted $0.87 EPS. The business'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, sell-side analysts anticipate that Tyson Foods, Inc. will post 3.8 earnings per share for the current year.

Tyson Foods announced that its board has initiated a stock repurchase program on Thursday, August 7th that permits the company to buyback 43,000,000 outstanding shares. This buyback authorization permits the company to purchase shares of its stock through open market purchases. Shares buyback programs are generally an indication that the company's leadership believes its stock is undervalued.

Tyson Foods Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 1st will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 3.7%. The ex-dividend date of this dividend is Monday, December 1st. Tyson Foods's dividend payout ratio (DPR) is currently 90.91%.

Analysts Set New Price Targets

A number of research firms have recently commented on TSN. JPMorgan Chase & Co. began coverage on Tyson Foods in a research note on Wednesday, August 20th. They set a "neutral" rating and a $60.00 target price on the stock. The Goldman Sachs Group began coverage on Tyson Foods in a research note on Monday, June 23rd. They set a "buy" rating and a $67.00 target price on the stock. Sanford C. Bernstein cut Tyson Foods from an "outperform" rating to a "market perform" rating and cut their target price for the company from $74.00 to $59.00 in a research note on Wednesday, July 23rd. BMO Capital Markets cut their target price on Tyson Foods from $62.00 to $58.00 and set a "market perform" rating on the stock in a research note on Monday, July 28th. Finally, JP Morgan Cazenove cut their target price on Tyson Foods from $61.00 to $60.00 and set a "neutral" rating on the stock in a research note on Monday, July 7th. Two research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and an average target price of $61.25.

Tyson Foods Company Profile

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.