Tyson Foods, Inc. $TSN Shares Sold by Sumitomo Mitsui Trust Group Inc.

Key Points

• Sumitomo Mitsui Trust Group Inc. reduced its Tyson Foods stake by 11.8% in the first quarter, selling 85,765 shares and leaving it with 643,835 shares valued at about $41.3 million.
• Tyson Foods reported better-than-expected quarterly results, posting EPS of $0.87 versus the $0.76 consensus and revenue of $13.65 billion, slightly above estimates.
• The company declared a quarterly dividend of $0.51 per share, implying an annualized yield of 3.5%, while Wall Street’s overall view remains Hold with an average price target of $69.56.

Sumitomo Mitsui Trust Group Inc. decreased its position in Tyson Foods, Inc. (NYSE:TSN - Free Report) by 11.8% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 643,835 shares of the company's stock after selling 85,765 shares during the period. Sumitomo Mitsui Trust Group Inc. owned approximately 0.18% of Tyson Foods worth $41,251,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Empowered Funds LLC boosted its position in Tyson Foods by 15.6% in the first quarter. Empowered Funds LLC now owns 28,076 shares of the company's stock valued at $1,792,000 after buying an additional 3,788 shares during the last quarter. Woodline Partners LP raised its position in Tyson Foods by 40.8% during the 1st quarter. Woodline Partners LP now owns 24,178 shares of the company's stock worth $1,543,000 after buying an additional 7,011 shares during the last quarter. Focus Partners Wealth lifted its stake in Tyson Foods by 84.0% during the 1st quarter. Focus Partners Wealth now owns 12,597 shares of the company's stock valued at $804,000 after acquiring an additional 5,749 shares during the period. Sivia Capital Partners LLC boosted its holdings in shares of Tyson Foods by 100.3% in the 2nd quarter. Sivia Capital Partners LLC now owns 7,393 shares of the company's stock valued at $414,000 after acquiring an additional 3,702 shares during the last quarter. Finally, Cerity Partners LLC boosted its holdings in shares of Tyson Foods by 129.2% in the 2nd quarter. Cerity Partners LLC now owns 85,939 shares of the company's stock valued at $4,807,000 after acquiring an additional 48,451 shares during the last quarter. Institutional investors and hedge funds own 67.00% of the company's stock.

Tyson Foods Price Performance

Tyson Foods stock opened at $57.72 on Monday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.70 and a current ratio of 1.83. The company's fifty day moving average price is $60.96 and its 200 day moving average price is $61.82. The stock has a market capitalization of $20.32 billion, a P/E ratio of 45.45, a P/E/G ratio of 1.20 and a beta of 0.40. Tyson Foods, Inc. has a 1 year low of $50.56 and a 1 year high of $69.48.

Tyson Foods (NYSE:TSN - Get Free Report) last released its earnings results on Monday, May 4th. The company reported $0.87 EPS for the quarter, topping analysts' consensus estimates of $0.76 by $0.11. Tyson Foods had a net margin of 0.81% and a return on equity of 7.59%. The business had revenue of $13.65 billion during the quarter, compared to analysts' expectations of $13.63 billion. During the same quarter in the previous year, the company earned $0.92 earnings per share. The company's quarterly revenue was up 4.4% on a year-over-year basis. As a group, equities research analysts anticipate that Tyson Foods, Inc. will post 4.09 earnings per share for the current fiscal year.

Tyson Foods Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st will be issued a $0.51 dividend. The ex-dividend date is Tuesday, September 1st. This represents a $2.04 dividend on an annualized basis and a yield of 3.5%. Tyson Foods's dividend payout ratio (DPR) is presently 160.63%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on TSN. Wall Street Zen cut shares of Tyson Foods from a "buy" rating to a "hold" rating in a report on Saturday, June 20th. Stephens increased their price target on Tyson Foods from $65.00 to $70.00 and gave the stock an "equal weight" rating in a research report on Tuesday, May 5th. BMO Capital Markets reiterated an "outperform" rating on shares of Tyson Foods in a research note on Tuesday, May 5th. JPMorgan Chase & Co. decreased their price objective on Tyson Foods from $67.00 to $65.00 and set a "neutral" rating for the company in a report on Tuesday, March 24th. Finally, Piper Sandler reaffirmed an "overweight" rating and set a $78.00 target price (down from $80.00) on shares of Tyson Foods in a report on Thursday, June 18th. Four investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company's stock. Based on data from MarketBeat, Tyson Foods presently has a consensus rating of "Hold" and an average price target of $69.56.

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.

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