Zurcher Kantonalbank Zurich Cantonalbank Trims Stock Position in Tyson Foods, Inc. $TSN

Key Points

• Zurcher Kantonalbank cut its stake in Tyson Foods by 20.5%, selling 31,421 shares and leaving 122,082 shares valued at $7.156 million at the end of the quarter.
• Several large institutions — including AQR, Two Sigma, Davis Selected Advisers and JPMorgan — significantly increased their Tyson positions, and about 67% of the stock is owned by hedge funds and other institutional investors.
• Analysts' consensus is an average rating of Hold with a $66.45 price target; TSN trades near $65.24 and pays a $0.51 quarterly dividend (approx. 3.1% yield).

Zurcher Kantonalbank Zurich Cantonalbank cut its stake in Tyson Foods, Inc. (NYSE:TSN - Free Report) by 20.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 122,082 shares of the company's stock after selling 31,421 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank's holdings in Tyson Foods were worth $7,156,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. AQR Capital Management LLC raised its holdings in shares of Tyson Foods by 34.4% in the third quarter. AQR Capital Management LLC now owns 6,726,796 shares of the company's stock valued at $363,852,000 after buying an additional 1,720,009 shares during the last quarter. Two Sigma Investments LP raised its holdings in shares of Tyson Foods by 877.2% in the third quarter. Two Sigma Investments LP now owns 1,373,370 shares of the company's stock valued at $74,574,000 after buying an additional 1,232,835 shares during the last quarter. Davis Selected Advisers raised its holdings in shares of Tyson Foods by 11.2% in the third quarter. Davis Selected Advisers now owns 9,962,127 shares of the company's stock valued at $540,943,000 after buying an additional 1,005,661 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Tyson Foods by 73.4% in the third quarter. JPMorgan Chase & Co. now owns 1,879,219 shares of the company's stock valued at $102,042,000 after buying an additional 795,710 shares during the last quarter. Finally, Caisse de depot et placement du Quebec raised its holdings in shares of Tyson Foods by 34.2% in the third quarter. Caisse de depot et placement du Quebec now owns 1,746,120 shares of the company's stock valued at $94,814,000 after buying an additional 445,018 shares during the last quarter. 67.00% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

TSN has been the subject of a number of research reports. Mizuho initiated coverage on shares of Tyson Foods in a report on Thursday, March 26th. They issued an "outperform" rating and a $72.00 target price for the company. Piper Sandler raised shares of Tyson Foods from a "neutral" rating to an "overweight" rating and increased their price target for the stock from $61.00 to $75.00 in a report on Monday, April 6th. Sanford C. Bernstein reissued a "market perform" rating and set a $69.00 price target on shares of Tyson Foods in a report on Tuesday, February 3rd. Barclays increased their price target on shares of Tyson Foods from $75.00 to $78.00 and gave the stock an "overweight" rating in a report on Tuesday, February 3rd. Finally, BMO Capital Markets increased their price target on shares of Tyson Foods from $67.00 to $73.00 and gave the stock an "outperform" rating in a report on Tuesday, February 3rd. Five analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $66.45.

Tyson Foods Stock Up 1.1%

TSN stock opened at $65.24 on Friday. The company's 50 day simple moving average is $63.06 and its 200-day simple moving average is $59.27. The firm has a market capitalization of $22.97 billion, a PE ratio of 116.51, a P/E/G ratio of 1.40 and a beta of 0.44. Tyson Foods, Inc. has a 12 month low of $50.56 and a 12 month high of $66.41. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.53 and a quick ratio of 0.66.

Tyson Foods (NYSE:TSN - Get Free Report) last released its quarterly earnings results on Monday, February 2nd. The company reported $0.97 EPS for the quarter, missing the consensus estimate of $1.01 by ($0.04). The business had revenue of $14.31 billion during the quarter, compared to analyst estimates of $14.11 billion. Tyson Foods had a net margin of 0.36% and a return on equity of 7.67%. The firm's revenue for the quarter was up 5.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.14 earnings per share. Equities analysts expect that Tyson Foods, Inc. will post 3.95 earnings per share for the current fiscal year.

Tyson Foods Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Monday, June 1st will be given a $0.51 dividend. The ex-dividend date is Monday, June 1st. This represents a $2.04 annualized dividend and a dividend yield of 3.1%. Tyson Foods's dividend payout ratio is currently 364.29%.

About Tyson Foods

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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