Tobam Has $65.66 Million Stake in Tyson Foods, Inc. (TSN)
Tobam cut its position in Tyson Foods, Inc. (NYSE:TSN) by 0.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,048,366 shares of the company’s stock after selling 3,513 shares during the period. Tyson Foods accounts for approximately 2.5% of Tobam’s holdings, making the stock its 7th largest position. Tobam owned about 0.29% of Tyson Foods worth $65,659,000 at the end of the most recent reporting period.
Several other hedge funds have also recently made changes to their positions in TSN. BlackRock Inc. boosted its position in shares of Tyson Foods by 2,404.6% in 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 during the last quarter. State Street Corp boosted its position in shares of Tyson Foods by 0.9% in the first quarter. State Street Corp now owns 14,004,153 shares of the company’s stock worth $864,191,000 after buying an additional 120,056 shares during the last quarter. Ameriprise Financial Inc. boosted its position in shares of Tyson Foods by 7.3% in the first quarter. Ameriprise Financial Inc. now owns 7,419,216 shares of the company’s stock worth $457,839,000 after buying an additional 506,267 shares during the last quarter. JPMorgan Chase & Co. boosted its position in shares of Tyson Foods by 10.5% in the first quarter. JPMorgan Chase & Co. now owns 5,855,494 shares of the company’s stock worth $361,341,000 after buying an additional 558,104 shares during the last quarter. Finally, Alliancebernstein L.P. boosted its position in shares of Tyson Foods by 8.2% in the first quarter. Alliancebernstein L.P. now owns 4,790,930 shares of the company’s stock worth $295,648,000 after buying an additional 362,044 shares during the last quarter. Institutional investors own 71.05% of the company’s stock.
Tyson Foods, Inc. (TSN) opened at 63.25 on Friday. The company has a market capitalization of $23.21 billion, a price-to-earnings ratio of 13.34 and a beta of 0.26. The firm has a 50-day moving average price of $63.14 and a 200-day moving average price of $62.28. Tyson Foods, Inc. has a 12 month low of $55.72 and a 12 month high of $77.05.
Tyson Foods (NYSE:TSN) last issued its earnings results on Monday, August 7th. The company reported $1.28 EPS for the quarter, topping analysts’ consensus estimates of $1.18 by $0.10. The company had revenue of $9.85 billion for the quarter, compared to analysts’ expectations of $9.49 billion. Tyson Foods had a net margin of 4.75% and a return on equity of 18.44%. The firm’s revenue was up 4.8% compared to the same quarter last year. During the same quarter last year, the company earned $1.21 EPS. On average, equities analysts anticipate that Tyson Foods, Inc. will post $5.06 earnings per share for the current fiscal year.
The firm 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. This represents a $0.90 dividend on an annualized basis and a yield of 1.42%. The ex-dividend date is Thursday, November 30th. Tyson Foods’s payout ratio is presently 18.95%.
TSN has been the subject of a number of recent research reports. J P Morgan Chase & Co increased their target price on Tyson Foods from $62.00 to $67.00 and gave the stock a “neutral” rating in a report on Monday, June 26th. Zacks Investment Research cut Tyson Foods from a “buy” rating to a “hold” rating in a report on Wednesday, May 10th. Goldman Sachs Group, Inc. (The) reissued a “buy” rating and issued a $76.00 target price on shares of Tyson Foods in a report on Tuesday, May 9th. Jefferies Group LLC reissued a “buy” rating and issued a $75.00 target price on shares of Tyson Foods in a report on Monday, May 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 analyst has rated the stock with a sell rating, six have issued a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $69.79.
In other Tyson Foods news, Director Mikel A. Durham bought 2,809 shares of the firm’s stock in a transaction that occurred on Monday, August 14th. The shares were bought at an average price of $65.77 per share, for a total transaction of $184,747.93. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Dennis Leatherby sold 145,100 shares of Tyson Foods stock in a transaction on Monday, August 14th. The stock was sold at an average price of $65.97, for a total transaction of $9,572,247.00. The disclosure for this sale can be found here. 2.65% of the stock is owned by company insiders.
About Tyson Foods
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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