Lazard Asset Management LLC trimmed its position in shares of Tyson Foods, Inc. (NYSE:TSN) by 38.1% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 269,381 shares of the company’s stock after selling 165,480 shares during the period. Lazard Asset Management LLC owned approximately 0.07% of Tyson Foods worth $16,870,000 at the end of the most recent quarter.
A number of other institutional investors have also recently made changes to their positions in TSN. BlackRock Inc. grew its stake in Tyson Foods by 2,404.6% during the first quarter. BlackRock Inc. now owns 19,055,591 shares of the company’s stock worth $1,175,919,000 after buying an additional 18,294,771 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC bought a new position in shares of Tyson Foods in the first quarter worth about $73,273,000. Skandinaviska Enskilda Banken AB publ lifted its holdings in shares of Tyson Foods by 2,655.1% in the first quarter. Skandinaviska Enskilda Banken AB publ now owns 1,216,095 shares of the company’s stock worth $75,045,000 after acquiring an additional 1,171,956 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in shares of Tyson Foods by 70.1% in the first quarter. Massachusetts Financial Services Co. MA now owns 2,298,455 shares of the company’s stock worth $141,838,000 after acquiring an additional 947,215 shares during the last quarter. Finally, Russell Investments Group Ltd. lifted its holdings in shares of Tyson Foods by 74.0% in the second quarter. Russell Investments Group Ltd. now owns 1,989,863 shares of the company’s stock worth $124,644,000 after acquiring an additional 846,535 shares during the last quarter. Hedge funds and other institutional investors own 70.83% of the company’s stock.
In related news, CFO Dennis Leatherby sold 145,100 shares of the business’s stock in a transaction that occurred on Monday, August 14th. The stock was sold at an average price of $65.97, for a total value of $9,572,247.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Mikel A. Durham bought 2,809 shares of the company’s stock in a transaction that occurred on Monday, August 14th. The stock was purchased at an average price of $65.77 per share, with a total value of $184,747.93. The disclosure for this purchase can be found here. Insiders own 2.65% of the company’s stock.
A number of research firms have recently commented on TSN. BidaskClub cut shares of Tyson Foods from a “buy” rating to a “hold” rating in a report on Thursday, June 22nd. Pivotal Research reissued a “sell” rating and issued a $40.00 target price on shares of Tyson Foods in a report on Wednesday, July 12th. Mizuho reissued a “buy” rating and issued a $71.00 target price on shares of Tyson Foods in a report on Monday, July 10th. Credit Suisse Group set a $70.00 target price on shares of Tyson Foods and gave the stock a “neutral” rating in a report on Tuesday, August 8th. Finally, BMO Capital Markets reissued a “buy” rating and issued a $75.00 target price on shares of Tyson Foods in a report on Thursday, June 15th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $69.79.
Tyson Foods, Inc. (TSN) opened at 65.33 on Friday. Tyson Foods, Inc. has a one year low of $55.72 and a one year high of $76.93. The company has a 50-day moving average of $64.80 and a 200-day moving average of $62.35. The company has a market cap of $23.97 billion, a price-to-earnings ratio of 13.77 and a beta of 0.26.
Tyson Foods (NYSE:TSN) last released its earnings results on Monday, August 7th. The company reported $1.28 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.18 by $0.10. The company had revenue of $9.85 billion during the quarter, compared to the consensus estimate of $9.49 billion. Tyson Foods had a return on equity of 18.44% and a net margin of 4.75%. Tyson Foods’s quarterly revenue was up 4.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.21 EPS. Equities research analysts expect that Tyson Foods, Inc. will post $5.06 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Friday, December 1st will be given a $0.225 dividend. The ex-dividend date is Thursday, November 30th. This represents a $0.90 dividend on an annualized basis and a yield of 1.38%. Tyson Foods’s payout ratio is 18.95%.
Tyson Foods Profile
Tyson Foods, Inc is a food company, which is engaged in offering chicken, beef and pork, as well as prepared foods. The Company offers food products under Tyson, Jimmy Dean, Hillshire Farm, Sara Lee, Ball Park, Wright, Aidells and State Fair brands. The Company operates through four segments: Chicken, Beef, Pork and Prepared Foods.
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