Balyasny Asset Management LLC Boosts Stake in Tyson Foods, Inc. (TSN)
Balyasny Asset Management LLC grew its position in shares of Tyson Foods, Inc. (NYSE:TSN) by 209.8% in the second quarter, according to its most recent filing with the SEC. The fund owned 345,683 shares of the company’s stock after acquiring an additional 234,107 shares during the quarter. Balyasny Asset Management LLC owned about 0.09% of Tyson Foods worth $21,650,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Financial Counselors Inc. increased its position in Tyson Foods by 0.3% in the second quarter. Financial Counselors Inc. now owns 4,799 shares of the company’s stock worth $301,000 after purchasing an additional 15 shares during the last quarter. CrestPoint Capital Management LLC raised its stake in Tyson Foods by 0.5% during the second quarter. CrestPoint Capital Management LLC now owns 21,100 shares of the company’s stock valued at $1,321,000 after purchasing an additional 100 shares in the last quarter. Oppenheimer & Co. Inc. raised its stake in Tyson Foods by 0.5% during the first quarter. Oppenheimer & Co. Inc. now owns 30,905 shares of the company’s stock valued at $1,907,000 after purchasing an additional 146 shares in the last quarter. Montecito Bank & Trust raised its stake in Tyson Foods by 3.7% during the second quarter. Montecito Bank & Trust now owns 4,160 shares of the company’s stock valued at $260,000 after purchasing an additional 147 shares in the last quarter. Finally, Lumbard & Kellner LLC raised its stake in Tyson Foods by 0.4% during the second quarter. Lumbard & Kellner LLC now owns 39,875 shares of the company’s stock valued at $2,497,000 after purchasing an additional 150 shares in the last quarter. Hedge funds and other institutional investors own 71.89% of the company’s stock.
In other news, Director Mikel A. Durham bought 2,809 shares of the firm’s stock in a transaction on Monday, August 14th. The shares were bought at an average cost of $65.77 per share, for a total transaction of $184,747.93. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Dennis Leatherby sold 145,100 shares of the business’s stock in a transaction dated Monday, August 14th. The shares were 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. Corporate insiders own 2.65% of the company’s stock.
Shares of Tyson Foods, Inc. (NYSE TSN) opened at 70.85 on Monday. Tyson Foods, Inc. has a one year low of $55.72 and a one year high of $75.55. The stock has a market capitalization of $25.99 billion, a P/E ratio of 14.94 and a beta of 0.27. The stock has a 50 day moving average price of $64.80 and a 200 day moving average price of $62.35.
Tyson Foods (NYSE:TSN) last issued 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. Tyson Foods had a return on equity of 18.44% and a net margin of 4.75%. The business had revenue of $9.85 billion during the quarter, compared to the consensus estimate of $9.49 billion. During the same period last year, the company earned $1.21 EPS. The company’s revenue for the quarter was up 4.8% on a year-over-year basis. Equities analysts forecast that Tyson Foods, Inc. will post $5.06 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Friday, December 1st will be given a dividend of $0.225 per share. The ex-dividend date is Thursday, November 30th. This represents a $0.90 annualized dividend and a dividend yield of 1.28%. Tyson Foods’s payout ratio is 18.95%.
Several equities analysts have commented on the stock. BMO Capital Markets reiterated a “buy” rating and set a $75.00 price objective on shares of Tyson Foods in a research report on Thursday, June 15th. Fundamental Research restated a “buy” rating on shares of Tyson Foods in a report on Thursday, August 17th. BidaskClub upgraded shares of Tyson Foods from a “sell” rating to a “hold” rating in a report on Wednesday, July 19th. Zacks Investment Research upgraded shares of Tyson Foods from a “hold” rating to a “buy” rating and set a $66.00 target price on the stock in a report on Thursday, July 13th. Finally, Royal Bank Of Canada upped their target price on shares of Tyson Foods from $68.00 to $70.00 and gave the company a “sector perform” rating in a research report on Tuesday, August 8th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $70.21.
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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