Assetmark Inc. decreased its stake in Tyson Foods Inc. (NYSE:TSN) by 5.9% during the third quarter, Holdings Channel reports. The institutional investor owned 14,677 shares of the company’s stock after selling 928 shares during the period. Assetmark Inc.’s holdings in Tyson Foods were worth $1,096,000 at the end of the most recent quarter.
Several other hedge funds have also recently bought and sold shares of TSN. Washington Trust Bank boosted its position in Tyson Foods by 2.2% in the third quarter. Washington Trust Bank now owns 1,431 shares of the company’s stock valued at $107,000 after buying an additional 31 shares during the last quarter. Evercore Wealth Management LLC boosted its position in Tyson Foods by 22.2% in the second quarter. Evercore Wealth Management LLC now owns 1,775 shares of the company’s stock valued at $119,000 after buying an additional 323 shares during the last quarter. Financial Architects Inc boosted its position in Tyson Foods by 1,101.3% in the second quarter. Financial Architects Inc now owns 1,838 shares of the company’s stock valued at $122,000 after buying an additional 1,685 shares during the last quarter. Kernodle & Katon Asset Management Group LLC bought a new position in Tyson Foods during the second quarter valued at approximately $156,000. Finally, James Investment Research Inc. bought a new position in Tyson Foods during the second quarter valued at approximately $188,000. 69.85% of the stock is owned by institutional investors and hedge funds.
Shares of Tyson Foods Inc. (NYSE:TSN) traded down 1.886% during midday trading on Monday, reaching $58.525. 1,764,567 shares of the company’s stock were exchanged. The stock has a market cap of $21.95 billion, a PE ratio of 12.919 and a beta of 0.18. The company’s 50 day moving average is $68.30 and its 200-day moving average is $69.61. Tyson Foods Inc. has a 12 month low of $48.52 and a 12 month high of $77.05.
Tyson Foods (NYSE:TSN) last posted its earnings results on Monday, November 21st. The company reported $0.96 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.16 by $0.20. Tyson Foods had a return on equity of 17.57% and a net margin of 4.79%. The firm had revenue of $9.16 billion for the quarter, compared to analyst estimates of $9.38 billion. During the same period in the prior year, the business posted $0.83 EPS. The firm’s quarterly revenue was down 12.8% compared to the same quarter last year. Equities analysts forecast that Tyson Foods Inc. will post $4.59 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 15th. Stockholders of record on Wednesday, March 1st will be issued a dividend of $0.225 per share. The ex-dividend date of this dividend is Monday, February 27th. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.51%. This is an increase from Tyson Foods’s previous quarterly dividend of $0.15. Tyson Foods’s dividend payout ratio (DPR) is currently 13.25%.
Several research firms recently commented on TSN. Royal Bank Of Canada cut their target price on shares of Tyson Foods from $75.00 to $68.00 and set a “sector perform” rating for the company in a research note on Tuesday, November 22nd. Jefferies Group cut their target price on shares of Tyson Foods from $85.00 to $75.00 and set a “buy” rating for the company in a research note on Tuesday, November 22nd. RBC Capital Markets reiterated a “sector perform” rating and set a $72.00 target price (up from $68.00) on shares of Tyson Foods in a research note on Friday, August 5th. BMO Capital Markets reiterated a “buy” rating and set a $84.00 target price on shares of Tyson Foods in a research note on Tuesday, November 22nd. Finally, Zacks Investment Research cut shares of Tyson Foods from a “buy” rating to a “hold” rating in a research note on Friday, October 28th. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. Tyson Foods has a consensus rating of “Hold” and a consensus target price of $69.41.
Tyson Foods Company Profile
Tyson Foods, Inc is a food company. The Company is engaged in offering chicken, beef and pork, as well as prepared foods, including bacon, breakfast sausage, turkey, lunchmeat, hot dogs, pizza crusts and toppings, tortillas and desserts. The Company offers food products under Tyson, Jimmy Dean, Hillshire Farm, Sara Lee, Ball Park, Wright, Aidells and State Fair brands.