Tyson Foods, Inc. $TSN Shares Sold by Wellington Management Group LLP

Key Points

• Wellington Management Group LLP reduced its stake in Tyson Foods by 29.3%, owning approximately 2.06% of the company after selling over 3 million shares during the first quarter.
• Tyson Foods reported a quarterly earnings per share (EPS) of $0.91, beating estimates, and had a revenue of $13.88 billion, representing a 4.0% year-over-year increase.
• The company has authorized a share buyback program to repurchase up to 43 million shares, indicating a belief that its stock is currently undervalued.

Wellington Management Group LLP reduced its stake in shares of Tyson Foods, Inc. (NYSE:TSN - Free Report) by 29.3% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,346,365 shares of the company's stock after selling 3,049,367 shares during the period. Wellington Management Group LLP owned approximately 2.06% of Tyson Foods worth $468,772,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in TSN. Mariner LLC lifted its position in Tyson Foods by 53.2% during the fourth quarter. Mariner LLC now owns 67,473 shares of the company's stock valued at $3,876,000 after purchasing an additional 23,442 shares during the period. CreativeOne Wealth LLC acquired a new position in Tyson Foods during the fourth quarter valued at $257,000. XTX Topco Ltd acquired a new position in Tyson Foods during the fourth quarter valued at $515,000. CANADA LIFE ASSURANCE Co lifted its position in Tyson Foods by 5.2% during the fourth quarter. CANADA LIFE ASSURANCE Co now owns 173,840 shares of the company's stock valued at $9,980,000 after purchasing an additional 8,659 shares during the period. Finally, Forum Financial Management LP lifted its position in Tyson Foods by 49.9% during the fourth quarter. Forum Financial Management LP now owns 5,984 shares of the company's stock valued at $344,000 after purchasing an additional 1,991 shares during the period. 67.00% of the stock is currently owned by institutional investors and hedge funds.

Tyson Foods Stock Down 1.3%

Shares of NYSE TSN opened at $56.07 on Tuesday. The company has a 50-day moving average of $55.02 and a 200 day moving average of $57.57. Tyson Foods, Inc. has a 12-month low of $51.85 and a 12-month high of $66.88. 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 cap of $19.95 billion, a PE ratio of 25.49, a P/E/G ratio of 0.78 and a beta of 0.59.

Tyson Foods (NYSE:TSN - Get Free Report) last posted its quarterly earnings results on Monday, August 4th. The company reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.72 by $0.19. The business had revenue of $13.88 billion during the quarter, compared to analysts' expectations of $13.54 billion. Tyson Foods had a net margin of 1.45% and a return on equity of 7.49%. The business's revenue for the quarter was up 4.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.87 EPS. As a group, sell-side analysts predict that Tyson Foods, Inc. will post 3.8 EPS for the current fiscal year.

Tyson Foods Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 1st will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Monday, December 1st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.6%. Tyson Foods's dividend payout ratio (DPR) is presently 90.91%.

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

Wall Street Analyst Weigh In

TSN has been the subject of a number of research reports. JPMorgan Chase & Co. decreased their target price on shares of Tyson Foods from $63.00 to $61.00 and set a "neutral" rating for the company in a research report on Tuesday, May 6th. Wall Street Zen cut shares of Tyson Foods from a "buy" rating to a "hold" rating in a report on Tuesday, May 6th. Sanford C. Bernstein downgraded shares of Tyson Foods from an "outperform" rating to a "market perform" rating and decreased their price objective for the stock from $74.00 to $59.00 in a research report on Wednesday, July 23rd. BMO Capital Markets decreased their price objective on shares of Tyson Foods from $62.00 to $58.00 and set a "market perform" rating for the company in a research report on Monday, July 28th. Finally, The Goldman Sachs Group initiated coverage on shares of Tyson Foods in a research note on Monday, June 23rd. They set a "buy" rating and a $67.00 target price for the company. Thirteen equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, Tyson Foods has a consensus rating of "Hold" and an average target price of $61.33.

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.

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