New Wave Wealth Advisors LLC Invests $5.43 Million in Tyson Foods, Inc. (NYSE:TSN)

New Wave Wealth Advisors LLC purchased a new position in shares of Tyson Foods, Inc. (NYSE:TSN) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 95,099 shares of the company’s stock, valued at approximately $5,434,000. Tyson Foods comprises approximately 2.9% of New Wave Wealth Advisors LLC’s portfolio, making the stock its 6th biggest holding.

A number of other hedge funds have also recently modified their holdings of the business. Treasurer of the State of North Carolina increased its holdings in Tyson Foods by 0.7% in the 4th quarter. Treasurer of the State of North Carolina now owns 126,842 shares of the company’s stock worth $6,818,000 after acquiring an additional 890 shares in the last quarter. TFO Wealth Partners LLC increased its stake in shares of Tyson Foods by 430,500.0% in the fourth quarter. TFO Wealth Partners LLC now owns 4,306 shares of the company’s stock worth $231,000 after purchasing an additional 4,305 shares in the last quarter. Bank of Nova Scotia lifted its stake in shares of Tyson Foods by 106.6% during the 4th quarter. Bank of Nova Scotia now owns 163,632 shares of the company’s stock valued at $8,795,000 after buying an additional 84,446 shares in the last quarter. KBC Group NV increased its stake in Tyson Foods by 128.6% in the 4th quarter. KBC Group NV now owns 365,994 shares of the company’s stock worth $19,672,000 after buying an additional 205,909 shares in the last quarter. Finally, The Manufacturers Life Insurance Company lifted its position in shares of Tyson Foods by 2.1% in the fourth quarter. The Manufacturers Life Insurance Company now owns 410,324 shares of the company’s stock valued at $22,055,000 after acquiring an additional 8,606 shares in the last quarter. Institutional investors own 67.00% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on TSN. Barclays increased their price objective on shares of Tyson Foods from $72.00 to $76.00 and gave the company an “overweight” rating in a report on Monday, September 9th. BMO Capital Markets lifted their target price on Tyson Foods from $58.00 to $60.00 and gave the stock a “market perform” rating in a report on Tuesday, August 6th. Piper Sandler downgraded Tyson Foods from a “neutral” rating to an “underweight” rating and reduced their price objective for the stock from $57.00 to $50.00 in a research note on Wednesday, September 25th. StockNews.com upgraded Tyson Foods from a “hold” rating to a “buy” rating in a research report on Tuesday, August 6th. Finally, Bank of America reduced their price target on shares of Tyson Foods from $62.00 to $60.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 10th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $60.67.

Tyson Foods Price Performance

Shares of TSN stock opened at $59.56 on Tuesday. The stock has a 50 day moving average price of $62.06 and a 200 day moving average price of $59.58. Tyson Foods, Inc. has a 52-week low of $44.94 and a 52-week high of $66.88. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.95 and a current ratio of 1.82. The firm has a market capitalization of $21.19 billion, a P/E ratio of -33.46, a P/E/G ratio of 0.41 and a beta of 0.78.

Tyson Foods (NYSE:TSN) last issued its earnings results on Monday, August 5th. The company reported $0.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.65 by $0.22. The firm had revenue of $13.35 billion during the quarter, compared to analyst estimates of $13.21 billion. Tyson Foods had a negative net margin of 0.01% and a positive return on equity of 4.97%. The business’s revenue was up 1.6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.15 earnings per share. As a group, sell-side analysts predict that Tyson Foods, Inc. will post 2.82 earnings per share for the current year.

Tyson Foods Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be issued a $0.49 dividend. The ex-dividend date is Friday, November 29th. This represents a $1.96 dividend on an annualized basis and a dividend yield of 3.29%. Tyson Foods’s payout ratio is -110.11%.

Tyson Foods Company 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.