iA Global Asset Management Inc. Increases Stock Holdings in Tyson Foods, Inc. (NYSE:TSN)

iA Global Asset Management Inc. raised its stake in Tyson Foods, Inc. (NYSE:TSN) by 15.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 24,635 shares of the company’s stock after purchasing an additional 3,354 shares during the quarter. iA Global Asset Management Inc.’s holdings in Tyson Foods were worth $1,447,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of TSN. Pzena Investment Management LLC grew its stake in shares of Tyson Foods by 79.2% in the 1st 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 last quarter. Capital Research Global Investors boosted its stake in shares of Tyson Foods by 153.2% in the fourth quarter. Capital Research Global Investors now owns 4,827,091 shares of the company’s stock valued at $259,456,000 after buying an additional 2,920,479 shares in the last quarter. Norges Bank purchased a new stake in shares of Tyson Foods in the fourth quarter valued at approximately $89,286,000. Royal London Asset Management Ltd. boosted its stake in shares of Tyson Foods by 76.9% in the fourth quarter. Royal London Asset Management Ltd. now owns 3,369,708 shares of the company’s stock valued at $181,122,000 after buying an additional 1,465,139 shares in the last quarter. Finally, Assenagon Asset Management S.A. boosted its stake in shares of Tyson Foods by 14,668.0% in the first quarter. Assenagon Asset Management S.A. now owns 632,366 shares of the company’s stock valued at $37,139,000 after buying an additional 628,084 shares in the last quarter. 67.00% of the stock is currently owned by hedge funds and other institutional investors.

Tyson Foods Price Performance

TSN traded up $0.02 on Friday, reaching $60.78. The company’s stock had a trading volume of 1,080,825 shares, compared to its average volume of 2,549,171. Tyson Foods, Inc. has a 1 year low of $44.94 and a 1 year high of $62.04. The company has a current ratio of 1.77, a quick ratio of 0.87 and a debt-to-equity ratio of 0.53. The business’s 50 day moving average is $57.52 and its 200 day moving average is $57.09.

Tyson Foods (NYSE:TSN) last issued its quarterly earnings results on Monday, May 6th. The company reported $0.62 EPS for the quarter, beating analysts’ consensus estimates of $0.39 by $0.23. Tyson Foods had a positive return on equity of 3.53% and a negative net margin of 1.16%. The firm had revenue of $13.07 billion during the quarter, compared to the consensus estimate of $13.16 billion. During the same quarter in the prior year, the business posted ($0.04) earnings per share. Tyson Foods’s revenue for the quarter was down .5% on a year-over-year basis. Research analysts anticipate that Tyson Foods, Inc. will post 2.61 EPS for the current fiscal year.

Tyson Foods Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 13th. Shareholders of record on Friday, August 30th will be paid a dividend of $0.49 per share. This represents a $1.96 annualized dividend and a yield of 3.22%. The ex-dividend date of this dividend is Friday, August 30th. Tyson Foods’s payout ratio is currently -110.11%.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on TSN. StockNews.com downgraded Tyson Foods from a “buy” rating to a “hold” rating in a research note on Saturday, July 20th. BMO Capital Markets lifted their price target on Tyson Foods from $55.00 to $58.00 and gave the company a “market perform” rating in a research note on Tuesday, May 7th. Barclays upgraded Tyson Foods from an “underweight” rating to an “overweight” rating and lifted their price target for the company from $53.00 to $69.00 in a research note on Tuesday, April 16th. JPMorgan Chase & Co. boosted their target price on Tyson Foods from $58.00 to $59.00 in a research report on Monday, May 6th. Finally, Piper Sandler boosted their target price on Tyson Foods from $55.00 to $57.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 7th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $60.00.

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.