Cornercap Investment Counsel Inc. Lowers Position in Tyson Foods, Inc. (TSN)
Cornercap Investment Counsel Inc. lowered its position in Tyson Foods, Inc. (NYSE:TSN) by 3.2% during the fourth quarter, HoldingsChannel.com reports. The fund owned 74,285 shares of the company’s stock after selling 2,470 shares during the quarter. Tyson Foods accounts for approximately 0.8% of Cornercap Investment Counsel Inc.’s holdings, making the stock its 24th largest holding. Cornercap Investment Counsel Inc.’s holdings in Tyson Foods were worth $6,022,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Deutsche Bank AG grew its holdings in shares of Tyson Foods by 14.1% in the 4th quarter. Deutsche Bank AG now owns 1,711,997 shares of the company’s stock worth $138,786,000 after acquiring an additional 211,927 shares during the period. Jefferies Group LLC lifted its stake in Tyson Foods by 14.7% in the 4th quarter. Jefferies Group LLC now owns 83,298 shares of the company’s stock valued at $6,753,000 after buying an additional 10,673 shares in the last quarter. CoreCommodity Management LLC lifted its stake in Tyson Foods by 17.3% in the 4th quarter. CoreCommodity Management LLC now owns 7,929 shares of the company’s stock valued at $643,000 after buying an additional 1,172 shares in the last quarter. Folger Hill Asset Management LP purchased a new stake in Tyson Foods in the 4th quarter valued at approximately $1,589,000. Finally, Nomura Asset Management Co. Ltd. lifted its stake in Tyson Foods by 5.7% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 44,447 shares of the company’s stock valued at $3,604,000 after buying an additional 2,405 shares in the last quarter. Institutional investors and hedge funds own 70.75% of the company’s stock.
A number of equities research analysts recently issued reports on TSN shares. Piper Jaffray Companies started coverage on Tyson Foods in a research note on Thursday, January 4th. They issued an “overweight” rating and a $94.00 target price on the stock. Argus raised Tyson Foods from a “hold” rating to a “buy” rating and set a $90.00 target price on the stock in a research note on Wednesday, November 15th. KeyCorp reaffirmed a “buy” rating and issued a $88.00 target price on shares of Tyson Foods in a research note on Thursday, December 21st. Zacks Investment Research raised Tyson Foods from a “hold” rating to a “buy” rating and set a $89.00 target price on the stock in a research note on Saturday, January 20th. Finally, BMO Capital Markets upped their target price on Tyson Foods to $89.00 and gave the company an “outperform” rating in a research note on Tuesday, November 14th. Eight research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $76.87.
Tyson Foods (NYSE:TSN) last issued its quarterly earnings results on Thursday, February 8th. The company reported $1.81 earnings per share for the quarter, topping analysts’ consensus estimates of $1.51 by $0.30. Tyson Foods had a return on equity of 19.25% and a net margin of 7.15%. The company had revenue of $10.23 billion for the quarter, compared to analyst estimates of $9.88 billion. During the same quarter in the prior year, the company posted $1.59 EPS. The business’s revenue for the quarter was up 11.4% compared to the same quarter last year. sell-side analysts expect that Tyson Foods, Inc. will post 6.68 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, June 15th. Shareholders of record on Friday, June 1st will be paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.59%. The ex-dividend date is Thursday, May 31st. Tyson Foods’s dividend payout ratio is presently 24.29%.
In other Tyson Foods news, insider Thomas P. Hayes sold 53,874 shares of the stock in a transaction on Tuesday, December 19th. The stock was sold at an average price of $81.63, for a total transaction of $4,397,734.62. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Noel W. White sold 24,575 shares of the stock in a transaction on Friday, December 22nd. The stock was sold at an average price of $80.96, for a total value of $1,989,592.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 86,249 shares of company stock worth $6,976,695. Corporate insiders own 2.65% of the company’s stock.
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Tyson Foods 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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