California Public Employees Retirement System boosted its position in Tyson Foods, Inc. (NYSE:TSN) by 1.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 907,954 shares of the company’s stock after acquiring an additional 10,990 shares during the quarter. California Public Employees Retirement System owned 0.25% of Tyson Foods worth $66,453,000 at the end of the most recent reporting period.
A number of other large investors have also recently made changes to their positions in TSN. BlackRock Inc. increased its stake in Tyson Foods by 10.6% in the fourth quarter. BlackRock Inc. now owns 22,658,190 shares of the company’s stock valued at $1,836,900,000 after acquiring an additional 2,168,652 shares during the last quarter. Wells Fargo & Company MN grew its stake in shares of Tyson Foods by 98.3% during the fourth quarter. Wells Fargo & Company MN now owns 4,106,832 shares of the company’s stock worth $332,940,000 after buying an additional 2,035,714 shares during the last quarter. Iridian Asset Management LLC CT grew its stake in shares of Tyson Foods by 13.0% during the fourth quarter. Iridian Asset Management LLC CT now owns 5,462,289 shares of the company’s stock worth $442,828,000 after buying an additional 629,241 shares during the last quarter. Amundi Pioneer Asset Management Inc. bought a new stake in shares of Tyson Foods during the fourth quarter worth $49,716,000. Finally, Gotham Asset Management LLC bought a new stake in shares of Tyson Foods during the fourth quarter worth $44,591,000. 71.64% of the stock is currently owned by institutional investors and hedge funds.
TSN has been the topic of a number of research reports. Buckingham Research initiated coverage on shares of Tyson Foods in a research note on Wednesday, February 21st. They set a “neutral” rating and a $82.00 target price on the stock. ValuEngine raised shares of Tyson Foods from a “hold” rating to a “buy” rating in a research note on Wednesday, March 7th. Pivotal Research cut shares of Tyson Foods from a “hold” rating to a “sell” rating and decreased their target price for the stock from $75.00 to $55.00 in a research note on Monday, April 2nd. Royal Bank of Canada reduced their price objective on shares of Tyson Foods to $83.00 and set a “reduce” rating on the stock in a research note on Tuesday, April 17th. Finally, Vertical Group cut shares of Tyson Foods from a “buy” rating to a “hold” rating in a research note on Friday, April 20th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $74.93.
Tyson Foods (NYSE:TSN) last released its earnings results on Monday, May 7th. The company reported $1.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.31 by ($0.04). The firm had revenue of $9.77 billion during the quarter, compared to analyst estimates of $9.86 billion. Tyson Foods had a net margin of 6.97% and a return on equity of 19.10%. Tyson Foods’s quarterly revenue was up 7.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.01 EPS. equities analysts anticipate that Tyson Foods, Inc. will post 6.58 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 14th. Investors of record on Friday, August 31st will be issued a $0.30 dividend. The ex-dividend date of this dividend is Thursday, August 30th. This represents a $1.20 annualized dividend and a yield of 1.69%. Tyson Foods’s payout ratio is 22.60%.
Tyson Foods Company Profile
Tyson Foods, Inc, together with its subsidiaries, operates as a food company worldwide. It operates through four segments: Chicken, Beef, Pork, and Prepared Foods. The company raises and processes chickens into fresh, frozen, and value-added chicken products; processes live fed cattle and live market hogs; and 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.
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