PNC Financial Services Group Inc. Cuts Stock Holdings in Tyson Foods, Inc. (NYSE:TSN)

PNC Financial Services Group Inc. lowered its stake in Tyson Foods, Inc. (NYSE:TSN) by 16.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 48,605 shares of the company’s stock after selling 9,438 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Tyson Foods were worth $2,613,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Tyson Foods by 7.3% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 117,081 shares of the company’s stock worth $6,293,000 after purchasing an additional 7,921 shares during the last quarter. Pzena Investment Management LLC boosted its holdings in Tyson Foods by 8.2% in the fourth quarter. Pzena Investment Management LLC now owns 5,887,724 shares of the company’s stock worth $316,465,000 after purchasing an additional 446,904 shares during the last quarter. Eisler Capital UK Ltd. purchased a new stake in Tyson Foods in the fourth quarter worth approximately $1,399,000. SG Americas Securities LLC boosted its holdings in Tyson Foods by 157.1% in the fourth quarter. SG Americas Securities LLC now owns 47,188 shares of the company’s stock worth $2,536,000 after purchasing an additional 28,833 shares during the last quarter. Finally, Rafferty Asset Management LLC boosted its holdings in Tyson Foods by 11.1% in the third quarter. Rafferty Asset Management LLC now owns 21,273 shares of the company’s stock worth $1,074,000 after purchasing an additional 2,129 shares during the last quarter. Hedge funds and other institutional investors own 67.00% of the company’s stock.

Tyson Foods Stock Up 1.8 %

Shares of TSN stock opened at $56.15 on Friday. The stock has a market cap of $20.05 billion, a P/E ratio of -31.54, a PEG ratio of 0.40 and a beta of 0.75. Tyson Foods, Inc. has a 52 week low of $44.94 and a 52 week high of $62.04. The company has a quick ratio of 0.87, a current ratio of 1.77 and a debt-to-equity ratio of 0.53. The company’s fifty day simple moving average is $58.56 and its two-hundred day simple moving average is $55.92.

Tyson Foods (NYSE:TSN) last announced its quarterly earnings results on Monday, May 6th. The company reported $0.62 EPS for the quarter, topping the consensus estimate of $0.39 by $0.23. Tyson Foods had a negative net margin of 1.16% and a positive return on equity of 3.53%. The business had revenue of $13.07 billion for the quarter, compared to analysts’ expectations of $13.16 billion. During the same quarter in the previous year, the company earned ($0.04) EPS. The business’s quarterly revenue was down .5% compared to the same quarter last year. Analysts predict that Tyson Foods, Inc. will post 2.58 EPS for the current fiscal year.

Tyson Foods Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Friday, August 30th will be issued a $0.49 dividend. The ex-dividend date is Friday, August 30th. This represents a $1.96 dividend on an annualized basis and a dividend yield of 3.49%. Tyson Foods’s dividend payout ratio (DPR) is presently -110.11%.

Wall Street Analyst Weigh In

Several research firms have weighed in on TSN. The Goldman Sachs Group increased their price target on shares of Tyson Foods from $49.00 to $54.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 17th. StockNews.com downgraded shares of Tyson Foods from a “buy” rating to a “hold” rating in a research report on Friday, May 24th. BMO Capital Markets increased their price target on shares of Tyson Foods from $55.00 to $58.00 and gave the stock a “market perform” rating in a research report on Tuesday, May 7th. HSBC increased their price target on shares of Tyson Foods from $48.00 to $51.00 and gave the stock a “reduce” rating in a research report on Tuesday, May 7th. Finally, Piper Sandler raised their price objective on shares of Tyson Foods from $55.00 to $57.00 and gave the company a “neutral” rating in a research report on Tuesday, May 7th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $60.22.

Tyson Foods Profile

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 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, including breaded chicken strips, nuggets, patties, and other ready-to-fix or fully cooked chicken parts; and supplies poultry breeding stock.