Montecito Bank & Trust increased its stake in shares of Tyson Foods, Inc. (NYSE:TSN) by 51.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 7,332 shares of the company’s stock after purchasing an additional 2,490 shares during the quarter. Montecito Bank & Trust’s holdings in Tyson Foods were worth $437,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently modified their holdings of the company. BerganKDV Wealth Management LLC acquired a new stake in shares of Tyson Foods during the second quarter worth $103,000. Trust Department MB Financial Bank N A acquired a new stake in shares of Tyson Foods during the second quarter worth $106,000. MUFG Americas Holdings Corp lifted its holdings in shares of Tyson Foods by 99.3% during the second quarter. MUFG Americas Holdings Corp now owns 1,722 shares of the company’s stock worth $119,000 after purchasing an additional 858 shares during the period. Fort L.P. acquired a new stake in shares of Tyson Foods during the second quarter worth $119,000. Finally, Cerebellum GP LLC acquired a new stake in shares of Tyson Foods during the third quarter worth $170,000. 70.21% of the stock is owned by hedge funds and other institutional investors.
Tyson Foods stock opened at $60.29 on Friday. Tyson Foods, Inc. has a one year low of $56.79 and a one year high of $84.65. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.48 and a quick ratio of 0.66. The firm has a market capitalization of $21.79 billion, a price-to-earnings ratio of 11.35, a price-to-earnings-growth ratio of 0.92 and a beta of 0.14.
Tyson Foods (NYSE:TSN) last released its earnings results on Monday, August 6th. The company reported $1.50 EPS for the quarter, beating analysts’ consensus estimates of $1.33 by $0.17. Tyson Foods had a return on equity of 18.84% and a net margin of 7.17%. The company had revenue of $10.05 billion during the quarter, compared to the consensus estimate of $10.22 billion. During the same quarter last year, the company earned $1.28 earnings per share. Tyson Foods’s quarterly revenue was up 2.0% compared to the same quarter last year. On average, analysts predict that Tyson Foods, Inc. will post 5.89 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 14th. Shareholders of record on Friday, November 30th will be issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 1.99%. Tyson Foods’s dividend payout ratio (DPR) is currently 22.60%.
Several equities research analysts recently weighed in on the company. Zacks Investment Research raised Tyson Foods from a “hold” rating to a “buy” rating and set a $71.00 price target for the company in a report on Thursday. ValuEngine raised Tyson Foods from a “strong sell” rating to a “sell” rating in a report on Tuesday. Mizuho set a $82.00 price target on Tyson Foods and gave the stock a “buy” rating in a report on Monday, September 17th. Jefferies Financial Group reaffirmed a “buy” rating and set a $75.00 price target on shares of Tyson Foods in a report on Monday, September 17th. Finally, Argus downgraded Tyson Foods from a “buy” rating to a “hold” rating in a report on Wednesday, September 5th. Three analysts have rated the stock with a sell rating, seven have given a hold rating and nine have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $74.60.
Tyson Foods Profile
Tyson Foods, Inc, together with its subsidiaries, operates as a food company worldwide. It operates through four segments: Chicken, Beef, Pork, and Prepared Foods. The company raises and processes chickens into fresh, frozen, and value-added chicken products; processes live fed cattle and live market hogs; and 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.
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