Comerica Bank Decreases Stock Holdings in Tyson Foods, Inc. (NYSE:TSN)

Comerica Bank lessened its position in Tyson Foods, Inc. (NYSE:TSN) by 3.1% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 60,336 shares of the company’s stock after selling 1,936 shares during the period. Comerica Bank’s holdings in Tyson Foods were worth $3,466,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in shares of Tyson Foods by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 35,714,357 shares of the company’s stock valued at $2,051,433,000 after purchasing an additional 325,361 shares during the period. Geode Capital Management LLC raised its holdings in shares of Tyson Foods by 2.6% during the fourth quarter. Geode Capital Management LLC now owns 6,994,356 shares of the company’s stock valued at $400,712,000 after buying an additional 178,785 shares during the last quarter. Northern Trust Corp boosted its position in Tyson Foods by 2.6% during the 4th quarter. Northern Trust Corp now owns 4,700,796 shares of the company’s stock worth $270,014,000 after acquiring an additional 118,402 shares during the period. Bank of New York Mellon Corp increased its stake in Tyson Foods by 14.8% during the 4th quarter. Bank of New York Mellon Corp now owns 3,315,701 shares of the company’s stock valued at $190,454,000 after buying an additional 427,582 shares during the period. Finally, Norges Bank bought a new position in Tyson Foods during the 4th quarter valued at $175,086,000. 67.00% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on TSN shares. Stephens cut their target price on shares of Tyson Foods from $63.00 to $61.00 and set an “equal weight” rating for the company in a research report on Tuesday. UBS Group started coverage on Tyson Foods in a research report on Friday, January 10th. They issued a “neutral” rating and a $62.00 price target on the stock. Piper Sandler upgraded shares of Tyson Foods from an “underweight” rating to a “neutral” rating and set a $58.00 price objective on the stock in a research note on Tuesday, February 4th. JPMorgan Chase & Co. cut their target price on shares of Tyson Foods from $63.00 to $61.00 and set a “neutral” rating for the company in a research note on Tuesday. Finally, StockNews.com downgraded shares of Tyson Foods from a “buy” rating to a “hold” rating in a report on Tuesday. Ten analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, Tyson Foods currently has a consensus rating of “Hold” and an average price target of $61.33.

Tyson Foods Stock Down 0.5 %

Shares of TSN opened at $55.81 on Wednesday. Tyson Foods, Inc. has a 12 month low of $53.61 and a 12 month high of $66.88. The company has a quick ratio of 1.04, a current ratio of 2.11 and a debt-to-equity ratio of 0.52. The company has a 50-day moving average price of $60.66 and a two-hundred day moving average price of $59.72. The stock has a market cap of $19.88 billion, a price-to-earnings ratio of 18.85, a P/E/G ratio of 0.74 and a beta of 0.63.

Tyson Foods (NYSE:TSN) last issued its quarterly earnings results on Monday, May 5th. The company reported $0.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.85 by $0.07. Tyson Foods had a net margin of 1.96% and a return on equity of 6.87%. The business had revenue of $13.07 billion for the quarter, compared to the consensus estimate of $13.15 billion. During the same quarter in the prior year, the company earned $0.62 EPS. The firm’s quarterly revenue was up .0% on a year-over-year basis. Equities analysts predict that Tyson Foods, Inc. will post 3.8 EPS for the current fiscal year.

Tyson Foods Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Friday, May 30th will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 3.58%. The ex-dividend date of this dividend is Friday, May 30th. Tyson Foods’s dividend payout ratio (DPR) is currently 67.57%.

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.