Polaris Capital Management LLC Reduces Stake in Tyson Foods, Inc. (NYSE:TSN)

Financial News Live · Nov 25, 2022 04:02

Polaris Capital Management LLC lowered its stake in Tyson Foods, Inc. (NYSE:TSN – Get Rating) by 4.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 650,213 shares of the company's stock after selling 27,900 shares during the period. Tyson Foods makes up approximately 2.0% of Polaris Capital Management LLC's investment portfolio, making the stock its 16th biggest position. Polaris Capital Management LLC owned 0.18% of Tyson Foods worth $55,902,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in TSN. Vanguard Group Inc. lifted its stake in Tyson Foods by 6.4% in the first quarter. Vanguard Group Inc. now owns 37,179,555 shares of the company's stock worth $3,332,404,000 after purchasing an additional 2,239,235 shares during the last quarter. Walker Asset Management LLC lifted its stake in Tyson Foods by 6,100.0% in the second quarter. Walker Asset Management LLC now owns 1,304,294 shares of the company's stock worth $116,854,000 after purchasing an additional 1,283,257 shares during the last quarter. Invesco Ltd. lifted its stake in Tyson Foods by 33.3% in the first quarter. Invesco Ltd. now owns 3,653,878 shares of the company's stock worth $327,497,000 after purchasing an additional 912,421 shares during the last quarter. Los Angeles Capital Management LLC raised its stake in shares of Tyson Foods by 486.0% during the first quarter. Los Angeles Capital Management LLC now owns 1,025,288 shares of the company's stock valued at $91,897,000 after acquiring an additional 850,310 shares in the last quarter. Finally, BlackRock Inc. raised its stake in shares of Tyson Foods by 3.3% during the first quarter. BlackRock Inc. now owns 21,532,930 shares of the company's stock valued at $1,929,996,000 after acquiring an additional 690,099 shares in the last quarter. Institutional investors own 68.55% of the company's stock.

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Analyst Upgrades and Downgrades

Several research firms have recently weighed in on TSN. JPMorgan Chase & Co. decreased their price target on shares of Tyson Foods from $75.00 to $70.00 and set a "neutral" rating for the company in a research note on Tuesday, November 15th. Bank of America downgraded shares of Tyson Foods from a "neutral" rating to an "underperform" rating and decreased their price target for the company from $73.00 to $61.00 in a research note on Wednesday, November 9th. Sanford C. Bernstein decreased their price target on shares of Tyson Foods to $101.00 in a research note on Monday, August 15th. Barclays decreased their price target on shares of Tyson Foods from $100.00 to $89.00 and set an "equal weight" rating for the company in a research note on Tuesday, August 9th. Finally, Credit Suisse Group reduced their price objective on shares of Tyson Foods to $75.00 in a research note on Thursday, November 17th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $81.22.

Tyson Foods Stock Down 0.3 %

NYSE:TSN traded down $0.18 during trading hours on Thursday, reaching $67.14. The company's stock had a trading volume of 2,230,895 shares, compared to its average volume of 3,262,721. The stock has a 50 day moving average price of $67.01 and a two-hundred day moving average price of $77.81. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.77 and a current ratio of 1.81. Tyson Foods, Inc. has a 12 month low of $62.94 and a 12 month high of $100.72. The company has a market capitalization of $24.14 billion, a P/E ratio of 7.53 and a beta of 0.72.

Tyson Foods (NYSE:TSN – Get Rating) last released its quarterly earnings results on Monday, November 14th. The company reported $1.63 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.70 by ($0.07). Tyson Foods had a return on equity of 16.62% and a net margin of 6.08%. The firm had revenue of $13.74 billion during the quarter, compared to analysts' expectations of $13.49 billion. During the same period in the prior year, the firm posted $2.30 earnings per share. Tyson Foods's revenue for the quarter was up 7.2% compared to the same quarter last year. Equities analysts predict that Tyson Foods, Inc. will post 6.63 EPS for the current fiscal year.

Tyson Foods Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 15th. Shareholders of record on Wednesday, March 1st will be issued a $0.48 dividend. This is a positive change from Tyson Foods's previous quarterly dividend of $0.46. This represents a $1.92 annualized dividend and a yield of 2.86%. The ex-dividend date of this dividend is Tuesday, February 28th. Tyson Foods's payout ratio is currently 20.63%.

Insiders Place Their Bets

In other Tyson Foods news, insider Shane Miller sold 6,608 shares of Tyson Foods stock in a transaction on Tuesday, November 22nd. The shares were sold at an average price of $67.75, for a total value of $447,692.00. Following the transaction, the insider now directly owns 30,921 shares of the company's stock, valued at $2,094,897.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.85% of the company's stock.

Tyson Foods Profile

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Tyson Foods, Inc, together with its subsidiaries, operates as a food company worldwide. It operates through four segments: Beef, Pork, Chicken, and Prepared Foods. The company processes live fed cattle and live market hogs; fabricates dressed beef and pork carcasses into primal and sub-primal meat cuts, as well as case ready beef and pork, and fully cooked meats; raises and processes chickens into fresh, frozen, and value-added chicken products; and supplies poultry breeding stock; sells specialty products, such as hides and meats.