Cornercap Investment Counsel Inc. Acquires 16,888 Shares of Tyson Foods, Inc. $TSN

Cornercap Investment Counsel Inc. raised its holdings in Tyson Foods, Inc. (NYSE:TSN) by 140.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 28,950 shares of the company’s stock after buying an additional 16,888 shares during the period. Cornercap Investment Counsel Inc.’s holdings in Tyson Foods were worth $1,572,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the business. ZWJ Investment Counsel Inc. increased its position in shares of Tyson Foods by 5.0% in the third quarter. ZWJ Investment Counsel Inc. now owns 423,079 shares of the company’s stock valued at $22,973,000 after acquiring an additional 20,070 shares during the last quarter. Harbor Capital Advisors Inc. grew its stake in Tyson Foods by 93.1% in the third quarter. Harbor Capital Advisors Inc. now owns 473 shares of the company’s stock valued at $26,000 after purchasing an additional 228 shares in the last quarter. DAVENPORT & Co LLC increased its position in shares of Tyson Foods by 1.3% during the 3rd quarter. DAVENPORT & Co LLC now owns 23,740 shares of the company’s stock worth $1,289,000 after purchasing an additional 301 shares during the last quarter. Farther Finance Advisors LLC raised its stake in shares of Tyson Foods by 11.3% during the 3rd quarter. Farther Finance Advisors LLC now owns 18,848 shares of the company’s stock worth $1,023,000 after purchasing an additional 1,916 shares in the last quarter. Finally, Patton Fund Management Inc. boosted its holdings in shares of Tyson Foods by 8.3% in the 3rd quarter. Patton Fund Management Inc. now owns 3,934 shares of the company’s stock valued at $214,000 after buying an additional 301 shares during the last quarter. 67.00% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Tyson Foods news, CFO Curt Calaway sold 6,539 shares of the stock in a transaction on Tuesday, November 25th. The stock was sold at an average price of $57.19, for a total transaction of $373,965.41. Following the transaction, the chief financial officer owned 31,833 shares in the company, valued at $1,820,529.27. This trade represents a 17.04% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman John H. Tyson sold 100,301 shares of Tyson Foods stock in a transaction on Friday, November 28th. The stock was sold at an average price of $58.05, for a total value of $5,822,473.05. Following the sale, the chairman directly owned 2,989,415 shares of the company’s stock, valued at $173,535,540.75. This represents a 3.25% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 2.11% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Zacks Research raised shares of Tyson Foods from a “strong sell” rating to a “hold” rating in a research report on Thursday, October 30th. Piper Sandler boosted their price objective on shares of Tyson Foods from $58.00 to $61.00 and gave the stock a “neutral” rating in a research note on Friday, December 12th. BMO Capital Markets raised their target price on shares of Tyson Foods from $53.00 to $56.00 and gave the company a “market perform” rating in a research note on Tuesday, November 11th. Santander assumed coverage on Tyson Foods in a report on Thursday, September 25th. They set a “neutral” rating for the company. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of Tyson Foods in a research note on Monday. Two investment analysts have rated the stock with a Buy rating and fifteen have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Tyson Foods has an average rating of “Hold” and an average target price of $61.00.

Tyson Foods Stock Performance

Shares of TSN stock opened at $58.18 on Thursday. Tyson Foods, Inc. has a 52 week low of $50.56 and a 52 week high of $64.36. The company has a market capitalization of $20.54 billion, a price-to-earnings ratio of 43.74, a PEG ratio of 1.33 and a beta of 0.47. The company has a 50-day simple moving average of $55.05 and a 200 day simple moving average of $55.01. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.66 and a current ratio of 1.55.

Tyson Foods (NYSE:TSN) last issued its quarterly earnings data on Monday, November 10th. The company reported $1.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.85 by $0.30. Tyson Foods had a net margin of 0.87% and a return on equity of 7.95%. The firm had revenue of $13.86 billion during the quarter, compared to the consensus estimate of $14.08 billion. During the same period last year, the business posted $0.92 earnings per share. The business’s revenue for the quarter was up 2.2% compared to the same quarter last year. On average, sell-side analysts predict that Tyson Foods, Inc. will post 3.8 earnings per share for the current year.

Tyson Foods Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 13th. Investors of record on Friday, February 27th will be paid a $0.51 dividend. This is a boost from Tyson Foods’s previous quarterly dividend of $0.50. The ex-dividend date is Friday, February 27th. This represents a $2.04 annualized dividend and a yield of 3.5%. Tyson Foods’s dividend payout ratio is presently 153.38%.

Tyson Foods Company Profile

Tyson Foods, Inc (NYSE: TSN) is a multinational food company primarily engaged in the production, processing and marketing of protein-based and prepared food products. Founded in 1935 and headquartered in Springdale, Arkansas, the company is one of the world’s largest processors of chicken, beef and pork. Its operations span live animal procurement and farming relationships through slaughter, further processing and distribution, supplying raw protein and value-added prepared foods to retail, foodservice and industrial customers.

The company’s product portfolio covers fresh and frozen meats, branded and private-label prepared foods, and a range of value-added items such as ready-to-eat and ready-to-cook meals, snack and sandwich meats.