Tyson Foods, Inc. $TSN Shares Acquired by QRG Capital Management Inc.

QRG Capital Management Inc. boosted its stake in Tyson Foods, Inc. (NYSE:TSN) by 15.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 117,331 shares of the company’s stock after purchasing an additional 15,421 shares during the period. QRG Capital Management Inc.’s holdings in Tyson Foods were worth $7,517,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Burford Brothers Inc. raised its holdings in shares of Tyson Foods by 16.9% during the 1st quarter. Burford Brothers Inc. now owns 12,390 shares of the company’s stock valued at $794,000 after buying an additional 1,788 shares during the period. HB Wealth Management LLC boosted its holdings in Tyson Foods by 49.6% in the 1st quarter. HB Wealth Management LLC now owns 25,805 shares of the company’s stock worth $1,653,000 after acquiring an additional 8,560 shares during the period. PFG Investments LLC purchased a new position in Tyson Foods in the 1st quarter worth approximately $314,000. World Investment Advisors grew its position in Tyson Foods by 45.7% in the first quarter. World Investment Advisors now owns 9,077 shares of the company’s stock valued at $582,000 after acquiring an additional 2,849 shares in the last quarter. Finally, Sierra Summit Advisors LLC grew its position in Tyson Foods by 4.5% in the first quarter. Sierra Summit Advisors LLC now owns 27,866 shares of the company’s stock valued at $1,785,000 after acquiring an additional 1,202 shares in the last quarter. 67.00% of the stock is owned by hedge funds and other institutional investors.

Tyson Foods Trading Down 0.0%

NYSE TSN opened at $58.89 on Friday. Tyson Foods, Inc. has a 12 month low of $50.56 and a 12 month high of $69.48. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.83 and a quick ratio of 0.70. The company has a market capitalization of $20.74 billion, a price-to-earnings ratio of 46.37, a price-to-earnings-growth ratio of 1.21 and a beta of 0.40. The company’s fifty day moving average price is $61.54 and its two-hundred day moving average price is $61.81.

Tyson Foods (NYSE:TSN) last released its earnings results on Monday, May 4th. The company reported $0.87 earnings per share for the quarter, topping the consensus estimate of $0.76 by $0.11. The company had revenue of $13.65 billion during the quarter, compared to the consensus estimate of $13.63 billion. Tyson Foods had a net margin of 0.81% and a return on equity of 7.59%. The company’s revenue was up 4.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.92 EPS. As a group, research analysts predict that Tyson Foods, Inc. will post 4.09 earnings per share for the current fiscal year.

Tyson Foods Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st will be issued a $0.51 dividend. This represents a $2.04 annualized dividend and a yield of 3.5%. The ex-dividend date of this dividend is Tuesday, September 1st. Tyson Foods’s payout ratio is currently 160.63%.

Analyst Ratings Changes

TSN has been the topic of a number of recent research reports. Sanford C. Bernstein reduced their target price on shares of Tyson Foods from $72.00 to $63.00 and set a “market perform” rating on the stock in a research report on Thursday. Piper Sandler reiterated an “overweight” rating and issued a $78.00 price objective (down from $80.00) on shares of Tyson Foods in a report on Thursday, June 18th. Bank of America decreased their price objective on shares of Tyson Foods from $70.00 to $68.00 and set a “neutral” rating for the company in a research report on Thursday. Weiss Ratings raised Tyson Foods from a “hold (c)” rating to a “hold (c+)” rating in a research report on Tuesday, June 23rd. Finally, BMO Capital Markets reissued an “outperform” rating on shares of Tyson Foods in a report on Tuesday, May 5th. Four research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. According to MarketBeat.com, Tyson Foods currently has an average rating of “Hold” and an average target price of $68.60.

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.