Readystate Asset Management LP Makes New Investment in Tyson Foods, Inc. (NYSE:TSN)

Readystate Asset Management LP purchased a new position in shares of Tyson Foods, Inc. (NYSE:TSN - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 28,849 shares of the company's stock, valued at approximately $1,551,000.

Several other institutional investors have also modified their holdings of the company. Burford Brothers Inc. acquired a new stake in shares of Tyson Foods in the fourth quarter valued at $295,000. Sanibel Captiva Trust Company Inc. acquired a new stake in shares of Tyson Foods in the fourth quarter valued at $229,000. Legal & General Group Plc lifted its holdings in shares of Tyson Foods by 20.2% in the fourth quarter. Legal & General Group Plc now owns 2,468,587 shares of the company's stock valued at $132,686,000 after buying an additional 415,033 shares during the period. Barclays PLC lifted its holdings in shares of Tyson Foods by 0.5% in the fourth quarter. Barclays PLC now owns 780,752 shares of the company's stock valued at $41,966,000 after buying an additional 3,509 shares during the period. Finally, Voloridge Investment Management LLC lifted its holdings in shares of Tyson Foods by 562.8% during the fourth quarter. Voloridge Investment Management LLC now owns 469,007 shares of the company's stock valued at $25,209,000 after purchasing an additional 398,246 shares during the last quarter. Institutional investors and hedge funds own 67.00% of the company's stock.

Insider Activity

In other news, Director Noel W. White sold 9,000 shares of the firm's stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $53.75, for a total value of $483,750.00. Following the transaction, the director now directly owns 31,115 shares in the company, valued at approximately $1,672,431.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 2.05% of the company's stock.

Tyson Foods Stock Up 0.7 %

Shares of NYSE TSN traded up $0.43 during mid-day trading on Wednesday, reaching $58.58. 1,543,276 shares of the company traded hands, compared to its average volume of 2,892,545. The company's fifty day moving average is $55.87 and its two-hundred day moving average is $52.32. Tyson Foods, Inc. has a fifty-two week low of $44.94 and a fifty-two week high of $63.28. The stock has a market cap of $20.87 billion, a PE ratio of -23.72, a price-to-earnings-growth ratio of 0.46 and a beta of 0.77. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.67 and a current ratio of 1.49.

Tyson Foods (NYSE:TSN - Get Free Report) last announced its quarterly earnings data on Monday, February 5th. The company reported $0.69 EPS for the quarter, topping analysts' consensus estimates of $0.41 by $0.28. Tyson Foods had a positive return on equity of 2.23% and a negative net margin of 1.62%. The company had revenue of $13.32 billion during the quarter, compared to the consensus estimate of $13.34 billion. During the same quarter last year, the company earned $0.85 EPS. The company's quarterly revenue was up .4% on a year-over-year basis. On average, analysts expect that Tyson Foods, Inc. will post 2.33 earnings per share for the current year.

Tyson Foods Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Friday, May 31st will be paid a $0.49 dividend. The ex-dividend date is Friday, May 31st. This represents a $1.96 annualized dividend and a dividend yield of 3.35%. Tyson Foods's dividend payout ratio (DPR) is currently -79.35%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. Piper Sandler upped their price target on Tyson Foods from $44.00 to $48.00 and gave the company a "neutral" rating in a research report on Friday, January 26th. JPMorgan Chase & Co. upped their price target on Tyson Foods from $51.00 to $55.00 and gave the company a "neutral" rating in a research report on Thursday, February 1st. The Goldman Sachs Group upped their price target on Tyson Foods from $49.00 to $54.00 and gave the company a "neutral" rating in a research report on Wednesday. Bank of America raised Tyson Foods from an "underperform" rating to a "neutral" rating and upped their price target for the company from $47.00 to $62.00 in a research report on Tuesday, February 6th. Finally, BMO Capital Markets upped their target price on Tyson Foods from $52.00 to $55.00 and gave the stock a "market perform" rating in a research report on Tuesday, February 6th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $58.80.

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.

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