Hennessy Advisors Inc. Makes New Investment in Tyson Foods, Inc. $TSN

Hennessy Advisors Inc. acquired a new stake in shares of Tyson Foods, Inc. (NYSE:TSN) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 34,068 shares of the company’s stock, valued at approximately $1,950,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of TSN. Instrumental Wealth LLC bought a new position in Tyson Foods in the 2nd quarter worth $549,000. Crossmark Global Holdings Inc. lifted its position in Tyson Foods by 1.5% during the second quarter. Crossmark Global Holdings Inc. now owns 19,661 shares of the company’s stock valued at $1,126,000 after purchasing an additional 298 shares in the last quarter. Matrix Asset Advisors Inc. NY grew its holdings in Tyson Foods by 31.9% during the second quarter. Matrix Asset Advisors Inc. NY now owns 495,030 shares of the company’s stock valued at $28,340,000 after purchasing an additional 119,862 shares during the period. Tectonic Advisors LLC increased its position in Tyson Foods by 5.5% in the second quarter. Tectonic Advisors LLC now owns 18,950 shares of the company’s stock worth $1,085,000 after buying an additional 983 shares in the last quarter. Finally, QRG Capital Management Inc. increased its position in Tyson Foods by 2.6% in the second quarter. QRG Capital Management Inc. now owns 120,407 shares of the company’s stock worth $6,893,000 after buying an additional 3,076 shares in the last quarter. 67.00% of the stock is currently owned by hedge funds and other institutional investors.

Tyson Foods Stock Down 1.0%

Shares of TSN opened at $55.87 on Thursday. The business’s 50 day moving average is $57.78 and its 200 day moving average is $61.73. The company has a current ratio of 1.43, a quick ratio of 0.55 and a debt-to-equity ratio of 0.36. Tyson Foods, Inc. has a 12-month low of $50.56 and a 12-month high of $69.48. The company has a market capitalization of $19.66 billion, a PE ratio of 34.49, a price-to-earnings-growth ratio of 1.21 and a beta of 0.40.

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

Tyson Foods Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 15th. Investors of record on Tuesday, December 1st will be given a dividend of $0.51 per share. The ex-dividend date is Tuesday, December 1st. This represents a $2.04 dividend on an annualized basis and a dividend yield of 3.7%. Tyson Foods’s dividend payout ratio is currently 125.93%.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. Stephens lifted their price objective on Tyson Foods from $65.00 to $70.00 and gave the company an “equal weight” rating in a research report on Tuesday, May 5th. Zacks Research lowered shares of Tyson Foods from a “hold” rating to a “strong sell” rating in a report on Thursday, August 6th. Piper Sandler restated an “overweight” rating and set a $78.00 target price (down from $80.00) on shares of Tyson Foods in a research note on Thursday, June 18th. Weiss Ratings downgraded shares of Tyson Foods from a “hold (c+)” rating to a “hold (c)” rating in a report on Thursday, July 9th. Finally, HSBC dropped their price target on shares of Tyson Foods from $74.00 to $69.00 and set a “hold” rating for the company in a research report on Wednesday, July 29th. Four analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Tyson Foods currently 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.