Tyson Foods, Inc. (TSN) Stake Lowered by Cadence Capital Management LLC
Cadence Capital Management LLC lowered its position in Tyson Foods, Inc. (NYSE:TSN) by 26.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,247 shares of the company’s stock after selling 2,637 shares during the period. Cadence Capital Management LLC’s holdings in Tyson Foods were worth $454,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also modified their holdings of the company. IFP Advisors Inc raised its position in shares of Tyson Foods by 9.4% in the first quarter. IFP Advisors Inc now owns 2,111 shares of the company’s stock worth $130,000 after buying an additional 182 shares in the last quarter. Washington Trust Bank raised its position in shares of Tyson Foods by 60.0% in the second quarter. Washington Trust Bank now owns 2,240 shares of the company’s stock worth $140,000 after buying an additional 840 shares in the last quarter. Independent Portfolio Consultants Inc. raised its position in shares of Tyson Foods by 146.7% in the second quarter. Independent Portfolio Consultants Inc. now owns 2,282 shares of the company’s stock worth $143,000 after buying an additional 1,357 shares in the last quarter. IHT Wealth Management LLC raised its position in shares of Tyson Foods by 62.9% in the first quarter. IHT Wealth Management LLC now owns 2,850 shares of the company’s stock worth $177,000 after buying an additional 1,100 shares in the last quarter. Finally, Harbour Capital Advisors LLC acquired a new position in shares of Tyson Foods during the first quarter worth $196,000. 70.83% of the stock is currently owned by institutional investors.
Shares of Tyson Foods, Inc. (TSN) opened at 62.49 on Thursday. Tyson Foods, Inc. has a one year low of $55.72 and a one year high of $77.05. The company has a 50-day moving average price of $63.14 and a 200 day moving average price of $62.28. The firm has a market capitalization of $22.93 billion, a P/E ratio of 13.18 and a beta of 0.26.
Tyson Foods (NYSE:TSN) last posted its earnings results on Monday, August 7th. The company reported $1.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.18 by $0.10. The company had revenue of $9.85 billion during 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%. Tyson Foods’s quarterly revenue was up 4.8% compared to the same quarter last year. During the same quarter last year, the company posted $1.21 EPS. Analysts expect that Tyson Foods, Inc. will post $5.06 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Friday, December 1st will be paid a dividend of $0.225 per share. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.44%. The ex-dividend date is Thursday, November 30th. Tyson Foods’s dividend payout ratio is presently 18.95%.
A number of brokerages have weighed in on TSN. Zacks Investment Research raised Tyson Foods from a “hold” rating to a “buy” rating and set a $73.00 price target on the stock in a research note on Thursday, August 10th. BMO Capital Markets reissued an “outperform” rating and set a $78.00 price target (up previously from $75.00) on shares of Tyson Foods in a research note on Thursday, August 10th. Pivotal Research reissued a “sell” rating and set a $40.00 price target on shares of Tyson Foods in a research note on Tuesday, August 8th. Royal Bank Of Canada increased their price target on Tyson Foods from $68.00 to $70.00 and gave the stock a “sector perform” rating in a research note on Tuesday, August 8th. Finally, Mizuho reissued a “buy” rating and set a $76.00 price target (up previously from $71.00) on shares of Tyson Foods in a research note on Wednesday, August 9th. One analyst has rated the stock with a sell rating, seven have given a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $69.79.
In other Tyson Foods news, Director Mikel A. Durham purchased 2,809 shares of the stock in a transaction that occurred on Monday, August 14th. The shares were acquired at an average cost of $65.77 per share, with a total value of $184,747.93. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Dennis Leatherby sold 145,100 shares of the firm’s stock in a transaction dated 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. Company insiders own 2.65% of the company’s stock.
Tyson Foods Company 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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