Teza Capital Management LLC Sells 32,810 Shares of Tyson Foods, Inc. $TSN

Key Points

• Teza Capital Management LLC reduced its stake in Tyson Foods by 52%, holding 30,282 shares worth approximately $1.93 million after selling 32,810 shares.
• Tyson Foods reported $0.91 earnings per share, surpassing the consensus estimate of $0.72, with a revenue of $13.88 billion for the quarter, a 4% increase year-over-year.
• The company has initiated a stock buyback program allowing repurchase of up to 43 million shares, signaling the board's belief that its stock is undervalued.

Teza Capital Management LLC lessened its stake in Tyson Foods, Inc. (NYSE:TSN - Free Report) by 52.0% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 30,282 shares of the company's stock after selling 32,810 shares during the quarter. Tyson Foods accounts for about 0.9% of Teza Capital Management LLC's investment portfolio, making the stock its 8th biggest holding. Teza Capital Management LLC's holdings in Tyson Foods were worth $1,932,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the company. UniSuper Management Pty Ltd grew its position in Tyson Foods by 4.3% during the 1st quarter. UniSuper Management Pty Ltd now owns 38,899 shares of the company's stock worth $2,482,000 after acquiring an additional 1,600 shares during the last quarter. Scientech Research LLC bought a new stake in Tyson Foods during the first quarter valued at $833,000. Parallax Volatility Advisers L.P. bought a new stake in Tyson Foods during the first quarter worth about $320,000. PharVision Advisers LLC purchased a new position in Tyson Foods during the 1st quarter valued at about $376,000. Finally, NFJ Investment Group LLC raised its position in shares of Tyson Foods by 10.1% in the 1st quarter. NFJ Investment Group LLC now owns 600,246 shares of the company's stock worth $38,302,000 after acquiring an additional 55,301 shares in the last quarter. 67.00% of the stock is owned by institutional investors and hedge funds.

Tyson Foods Stock Performance

TSN stock traded down $0.06 during trading hours on Tuesday, hitting $55.84. 2,173,233 shares of the stock were exchanged, compared to its average volume of 2,383,367. The company has a 50-day simple moving average of $55.49 and a two-hundred day simple moving average of $57.44. The firm has a market capitalization of $19.86 billion, a P/E ratio of 25.38, a P/E/G ratio of 0.76 and a beta of 0.59. The company has a current ratio of 1.73, a quick ratio of 0.78 and a debt-to-equity ratio of 0.44. Tyson Foods, Inc. has a 12 month low of $51.85 and a 12 month high of $65.95.

Tyson Foods (NYSE:TSN - Get Free Report) last issued its earnings results on Monday, August 4th. The company reported $0.91 earnings per share for the quarter, topping analysts' consensus estimates of $0.72 by $0.19. The company had revenue of $13.88 billion for the quarter, compared to analyst estimates of $13.54 billion. Tyson Foods had a return on equity of 7.49% and a net margin of 1.45%.Tyson Foods's revenue for the quarter was up 4.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.87 earnings per share. Tyson Foods has set its FY 2025 guidance at EPS. On average, analysts forecast that Tyson Foods, Inc. will post 3.8 earnings per share for the current fiscal year.

Tyson Foods declared that its board has approved 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. Stock buyback programs are generally a sign that the company's leadership believes its stock is undervalued.

Tyson Foods Announces Dividend

The company 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. The ex-dividend date of this dividend is Monday, December 1st. This represents a $2.00 dividend on an annualized basis and a yield of 3.6%. Tyson Foods's dividend payout ratio is currently 90.91%.

Analysts Set New Price Targets

TSN has been the subject of a number of research analyst reports. The Goldman Sachs Group assumed coverage on Tyson Foods in a research report on Monday, June 23rd. They set a "buy" rating and a $67.00 price objective for the company. Stephens reduced their target price on shares of Tyson Foods from $61.00 to $55.00 in a report on Tuesday, July 15th. BMO Capital Markets lowered their target price on shares of Tyson Foods from $62.00 to $58.00 and set a "market perform" rating on the stock in a report on Monday, July 28th. JP Morgan Cazenove lowered their target price on shares of Tyson Foods from $61.00 to $60.00 and set a "neutral" rating for the company in a report on Monday, July 7th. Finally, Bernstein Bank cut shares of Tyson Foods to a "market perform" rating and dropped their target price for the stock from $74.00 to $59.00 in a report on Wednesday, July 23rd. Two analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $61.25.

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.