Fifth Third Bancorp Has $8.65 Million Position in Tyson Foods, Inc. $TSN

Fifth Third Bancorp grew its position in Tyson Foods, Inc. (NYSE:TSN) by 1,605.1% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 135,024 shares of the company’s stock after acquiring an additional 127,105 shares during the quarter. Fifth Third Bancorp’s holdings in Tyson Foods were worth $8,651,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Norges Bank acquired a new stake in shares of Tyson Foods during the 4th quarter valued at about $308,297,000. Davis Selected Advisers raised its position in Tyson Foods by 28.8% in the fourth quarter. Davis Selected Advisers now owns 12,827,540 shares of the company’s stock worth $751,951,000 after purchasing an additional 2,865,413 shares in the last quarter. Life Cycle Investment Partners Ltd bought a new position in Tyson Foods during the fourth quarter worth about $165,220,000. Pzena Investment Management LLC boosted its holdings in Tyson Foods by 12.1% during the first quarter. Pzena Investment Management LLC now owns 17,155,713 shares of the company’s stock valued at $1,099,167,000 after purchasing an additional 1,845,200 shares in the last quarter. Finally, AQR Capital Management LLC boosted its holdings in Tyson Foods by 34.4% during the third quarter. AQR Capital Management LLC now owns 6,726,796 shares of the company’s stock valued at $363,852,000 after purchasing an additional 1,720,009 shares in the last quarter. Institutional investors and hedge funds own 67.00% of the company’s stock.

Tyson Foods Price Performance

Tyson Foods stock opened at $57.41 on Thursday. The business’s 50-day simple moving average is $60.40 and its 200 day simple moving average is $61.81. The company has a quick ratio of 0.70, a current ratio of 1.83 and a debt-to-equity ratio of 0.44. The stock has a market cap of $20.22 billion, a price-to-earnings ratio of 45.21, a P/E/G ratio of 1.19 and a beta of 0.40. Tyson Foods, Inc. has a 12-month low of $50.56 and a 12-month high of $69.48.

Tyson Foods (NYSE:TSN) last announced its quarterly earnings data on Monday, May 4th. The company reported $0.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.76 by $0.11. Tyson Foods had a net margin of 0.81% and a return on equity of 7.59%. The firm had revenue of $13.65 billion for the quarter, compared to analysts’ expectations of $13.63 billion. During the same period last year, the firm earned $0.92 earnings per share. The business’s revenue for the quarter was up 4.4% on a year-over-year basis. As a group, research analysts anticipate that Tyson Foods, Inc. will post 4.09 earnings per share for the current year.

Tyson Foods Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st will be given a dividend of $0.51 per share. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $2.04 dividend on an annualized basis and a dividend yield of 3.6%. Tyson Foods’s dividend payout ratio (DPR) is currently 160.63%.

Analyst Ratings Changes

TSN has been the topic of a number of analyst reports. Sanford C. Bernstein lowered their price target on Tyson Foods from $72.00 to $63.00 and set a “market perform” rating on the stock in a research report on Thursday, July 2nd. Mizuho initiated coverage on Tyson Foods in a report on Thursday, March 26th. They set an “outperform” rating and a $72.00 price objective for the company. JPMorgan Chase & Co. reduced their target price on shares of Tyson Foods from $71.00 to $65.00 and set a “neutral” rating on the stock in a research note on Tuesday. Piper Sandler reiterated an “overweight” rating and set a $78.00 target price (down from $80.00) on shares of Tyson Foods in a research report on Thursday, June 18th. Finally, Stephens increased their target price on shares of Tyson Foods from $65.00 to $70.00 and gave the stock an “equal weight” rating in a research report on Tuesday, May 5th. Four research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. Based on data from MarketBeat, Tyson Foods currently has an average rating of “Hold” and an average price target of $69.56.

Tyson Foods Company Profile

Tyson Foods, Inc (NYSE: TSN) is a multinational food company primarily engaged in the production, processing and marketing of protein-based and prepared food products. Founded in 1935 and headquartered in Springdale, Arkansas, the company is one of the world’s largest processors of chicken, beef and pork. Its operations span live animal procurement and farming relationships through slaughter, further processing and distribution, supplying raw protein and value-added prepared foods to retail, foodservice and industrial customers.

The company’s product portfolio covers fresh and frozen meats, branded and private-label prepared foods, and a range of value-added items such as ready-to-eat and ready-to-cook meals, snack and sandwich meats.