Tyson Foods, Inc. (NYSE:TSN) Shares Sold by Truist Financial Corp

Truist Financial Corp trimmed its position in shares of Tyson Foods, Inc. (NYSE:TSN) by 3.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 67,597 shares of the company’s stock after selling 2,653 shares during the quarter. Truist Financial Corp’s holdings in Tyson Foods were worth $3,862,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. Pzena Investment Management LLC lifted its stake in shares of Tyson Foods by 79.2% in the first quarter. Pzena Investment Management LLC now owns 10,550,056 shares of the company’s stock valued at $619,605,000 after purchasing an additional 4,662,332 shares during the period. Davis Selected Advisers acquired a new stake in shares of Tyson Foods during the 2nd quarter valued at approximately $177,439,000. Royal London Asset Management Ltd. boosted its stake in shares of Tyson Foods by 76.9% during the 4th quarter. Royal London Asset Management Ltd. now owns 3,369,708 shares of the company’s stock worth $181,122,000 after acquiring an additional 1,465,139 shares in the last quarter. Wellington Management Group LLP grew its holdings in shares of Tyson Foods by 6.2% in the 4th quarter. Wellington Management Group LLP now owns 10,335,646 shares of the company’s stock worth $555,541,000 after acquiring an additional 606,518 shares during the period. Finally, Jupiter Asset Management Ltd. purchased a new position in Tyson Foods in the 2nd quarter valued at approximately $29,537,000. 67.00% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. StockNews.com raised Tyson Foods from a “hold” rating to a “buy” rating in a research note on Tuesday, August 6th. BMO Capital Markets lifted their target price on shares of Tyson Foods from $58.00 to $60.00 and gave the stock a “market perform” rating in a research report on Tuesday, August 6th. Bank of America lowered 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. Stephens initiated coverage on Tyson Foods in a research report on Thursday, October 3rd. They set an “equal weight” rating and a $57.00 price objective for the company. Finally, JPMorgan Chase & Co. increased their target price on Tyson Foods from $61.00 to $63.00 and gave the company a “neutral” rating in a report on Tuesday, August 6th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, Tyson Foods presently has a consensus rating of “Hold” and a consensus target price of $59.22.

Tyson Foods Stock Performance

TSN stock opened at $58.29 on Wednesday. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.82 and a quick ratio of 0.95. The stock has a 50-day moving average price of $61.92 and a two-hundred day moving average price of $59.64. Tyson Foods, Inc. has a 12-month low of $44.94 and a 12-month high of $66.88.

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, topping analysts’ consensus estimates of $0.65 by $0.22. Tyson Foods had a positive return on equity of 4.97% and a negative net margin of 0.01%. The business had revenue of $13.35 billion during the quarter, compared to analysts’ expectations of $13.21 billion. During the same quarter in the previous year, the business earned $0.15 EPS. The company’s revenue for the quarter was up 1.6% on a year-over-year basis. Sell-side analysts expect that Tyson Foods, Inc. will post 2.82 EPS for the current fiscal year.

Tyson Foods Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be issued a dividend of $0.49 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.96 annualized dividend and a dividend yield of 3.36%. Tyson Foods’s payout ratio is -110.11%.

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.