Bank of America Corp DE Acquires 243,060 Shares of Tyson Foods, Inc. $TSN

Bank of America Corp DE grew its position in Tyson Foods, Inc. (NYSE:TSN) by 17.8% during the first quarter, HoldingsChannel.com reports. The firm owned 1,610,663 shares of the company’s stock after buying an additional 243,060 shares during the quarter. Bank of America Corp DE’s holdings in Tyson Foods were worth $103,195,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the company. Ascentis Independent Advisors bought a new position in shares of Tyson Foods in the 1st quarter valued at about $30,000. Cedar Mountain Advisors LLC lifted its stake in Tyson Foods by 293.5% in the 1st quarter. Cedar Mountain Advisors LLC now owns 488 shares of the company’s stock valued at $31,000 after purchasing an additional 364 shares during the last quarter. City Holding Co. acquired a new stake in Tyson Foods in the 4th quarter valued at about $29,000. Cary Street Partners Investment Advisory LLC grew its holdings in Tyson Foods by 62.3% during the fourth quarter. Cary Street Partners Investment Advisory LLC now owns 516 shares of the company’s stock worth $30,000 after purchasing an additional 198 shares during the period. Finally, Activest Wealth Management grew its holdings in Tyson Foods by 3,842.9% during the fourth quarter. Activest Wealth Management now owns 552 shares of the company’s stock worth $32,000 after purchasing an additional 538 shares during the period. 67.00% of the stock is currently owned by institutional investors.

Tyson Foods Stock Down 1.0%

NYSE TSN opened at $57.98 on Friday. The company has a current ratio of 1.43, a quick ratio of 0.70 and a debt-to-equity ratio of 0.36. Tyson Foods, Inc. has a 1-year low of $50.56 and a 1-year high of $69.48. The company has a 50 day moving average of $57.92 and a 200-day moving average of $61.80. The company has a market cap of $20.42 billion, a price-to-earnings ratio of 35.79, a PEG ratio of 1.25 and a beta of 0.40.

Tyson Foods (NYSE:TSN) last issued its quarterly earnings results on Monday, August 3rd. The company reported $0.99 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.99. Tyson Foods had a return on equity of 7.77% and a net margin of 1.03%.The business had revenue of $13.87 billion for the quarter, compared to the consensus estimate of $14.07 billion. During the same quarter in the prior year, the business posted $0.91 earnings per share. The firm’s quarterly revenue was down .1% compared to the same quarter last year. On average, equities research analysts expect that Tyson Foods, Inc. will post 3.95 earnings per share for the current fiscal year.

Tyson Foods Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 15th. Investors of record on Tuesday, December 1st will be given a $0.51 dividend. The ex-dividend date is Tuesday, December 1st. This represents a $2.04 dividend on an annualized basis and a dividend yield of 3.5%. Tyson Foods’s dividend payout ratio (DPR) is presently 125.93%.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Wall Street Zen lowered Tyson Foods from a “buy” rating to a “hold” rating in a research note on Saturday, June 20th. Sanford C. Bernstein reduced their target price on Tyson Foods from $72.00 to $63.00 and set a “market perform” rating for the company in a research note on Thursday, July 2nd. Stephens boosted their target price on Tyson Foods from $65.00 to $70.00 and gave the stock an “equal weight” rating in a report on Tuesday, May 5th. Bank of America dropped their price target on Tyson Foods from $70.00 to $68.00 and set a “neutral” rating on the stock in a research note on Thursday, July 2nd. Finally, BMO Capital Markets reaffirmed an “outperform” rating on shares of Tyson Foods in a research report on Tuesday, May 5th. Four equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Tyson Foods currently has an average rating of “Hold” and an average price target of $70.67.

About Tyson Foods

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.