Wedge Capital Management L L P NC Grows Stock Holdings in Tyson Foods, Inc. $TSN

Wedge Capital Management L L P NC boosted its stake in shares of Tyson Foods, Inc. (NYSE:TSN) by 10.6% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 621,639 shares of the company’s stock after acquiring an additional 59,451 shares during the quarter. Wedge Capital Management L L P NC owned about 0.18% of Tyson Foods worth $35,589,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of the stock. Pzena Investment Management LLC lifted its stake in shares of Tyson Foods by 12.1% in the 1st quarter. Pzena Investment Management LLC now owns 17,155,713 shares of the company’s stock worth $1,099,167,000 after acquiring an additional 1,845,200 shares during the period. State Street Corp increased its holdings in shares of Tyson Foods by 0.6% in the 3rd quarter. State Street Corp now owns 14,075,676 shares of the company’s stock valued at $764,309,000 after purchasing an additional 85,282 shares in the last quarter. Davis Selected Advisers lifted its stake in shares of Tyson Foods by 28.8% in the fourth quarter. Davis Selected Advisers now owns 12,827,540 shares of the company’s stock valued at $751,951,000 after purchasing an additional 2,865,413 shares during the period. AQR Capital Management LLC grew its position in Tyson Foods by 20.6% during the fourth quarter. AQR Capital Management LLC now owns 8,114,441 shares of the company’s stock worth $475,669,000 after buying an additional 1,387,645 shares during the period. Finally, Invesco Ltd. increased its holdings in Tyson Foods by 1.4% in the fourth quarter. Invesco Ltd. now owns 6,055,876 shares of the company’s stock valued at $354,995,000 after buying an additional 83,861 shares in the last quarter. Hedge funds and other institutional investors own 67.00% of the company’s stock.

Tyson Foods Trading Down 1.2%

TSN opened at $56.49 on Wednesday. The firm has a market capitalization of $19.87 billion, a P/E ratio of 34.87, a P/E/G ratio of 1.22 and a beta of 0.40. The firm’s 50 day moving average is $57.81 and its 200-day moving average is $61.76. The company has a quick ratio of 0.55, a current ratio of 1.43 and a debt-to-equity ratio of 0.36. Tyson Foods, Inc. has a 52-week low of $50.56 and a 52-week high of $69.48.

Tyson Foods (NYSE:TSN) last announced its earnings results on Monday, August 3rd. The company reported $0.99 earnings per share for the quarter, meeting the consensus estimate of $0.99. Tyson Foods had a return on equity of 7.77% and a net margin of 1.03%.The company had revenue of $13.87 billion during the quarter, compared to the consensus estimate of $14.07 billion. During the same period last year, the firm earned $0.91 earnings per share. The company’s revenue was down .1% on a year-over-year basis. Analysts expect that Tyson Foods, Inc. will post 3.95 EPS for the current fiscal year.

Tyson Foods Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 15th. Shareholders of record on Tuesday, December 1st will be issued a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a yield of 3.6%. The ex-dividend date of this dividend is Tuesday, December 1st. Tyson Foods’s dividend payout ratio (DPR) is currently 125.93%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on TSN shares. Zacks Research cut Tyson Foods from a “hold” rating to a “strong sell” rating in a report on Thursday, August 6th. BMO Capital Markets reiterated an “outperform” rating on shares of Tyson Foods in a research report on Tuesday, May 5th. Weiss Ratings downgraded shares of Tyson Foods from a “hold (c+)” rating to a “hold (c)” rating in a report on Thursday, July 9th. Piper Sandler reaffirmed an “overweight” rating and issued a $78.00 target price (down from $80.00) on shares of Tyson Foods in a research note on Thursday, June 18th. Finally, JPMorgan Chase & Co. reduced their price objective on Tyson Foods from $71.00 to $65.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 14th. Four analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $70.67.

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.