Readystate Asset Management LP Makes New Investment in Tyson Foods, Inc. (NYSE:TSN)

Readystate Asset Management LP purchased a new position in shares of Tyson Foods, Inc. (NYSE:TSN) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 28,849 shares of the company’s stock, valued at approximately $1,551,000.

Several other institutional investors have also modified their holdings of the company. Burford Brothers Inc. acquired a new stake in shares of Tyson Foods in the fourth quarter valued at $295,000. Sanibel Captiva Trust Company Inc. acquired a new stake in shares of Tyson Foods in the fourth quarter valued at $229,000. Legal & General Group Plc lifted its holdings in shares of Tyson Foods by 20.2% in the fourth quarter. Legal & General Group Plc now owns 2,468,587 shares of the company’s stock valued at $132,686,000 after buying an additional 415,033 shares during the period. Barclays PLC lifted its holdings in shares of Tyson Foods by 0.5% in the fourth quarter. Barclays PLC now owns 780,752 shares of the company’s stock valued at $41,966,000 after buying an additional 3,509 shares during the period. Finally, Voloridge Investment Management LLC lifted its holdings in shares of Tyson Foods by 562.8% during the fourth quarter. Voloridge Investment Management LLC now owns 469,007 shares of the company’s stock valued at $25,209,000 after purchasing an additional 398,246 shares during the last quarter. Institutional investors and hedge funds own 67.00% of the company’s stock.

Insider Activity

In other news, Director Noel W. White sold 9,000 shares of the firm’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $53.75, for a total value of $483,750.00. Following the transaction, the director now directly owns 31,115 shares in the company, valued at approximately $1,672,431.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 2.05% of the company’s stock.

Tyson Foods Stock Up 0.7 %

Shares of NYSE TSN traded up $0.43 during mid-day trading on Wednesday, reaching $58.58. 1,543,276 shares of the company traded hands, compared to its average volume of 2,892,545. The company’s fifty day moving average is $55.87 and its two-hundred day moving average is $52.32. Tyson Foods, Inc. has a fifty-two week low of $44.94 and a fifty-two week high of $63.28. The stock has a market cap of $20.87 billion, a PE ratio of -23.72, a price-to-earnings-growth ratio of 0.46 and a beta of 0.77. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.67 and a current ratio of 1.49.

Tyson Foods (NYSE:TSN) last announced its quarterly earnings data on Monday, February 5th. The company reported $0.69 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.28. Tyson Foods had a positive return on equity of 2.23% and a negative net margin of 1.62%. The company had revenue of $13.32 billion during the quarter, compared to the consensus estimate of $13.34 billion. During the same quarter last year, the company earned $0.85 EPS. The company’s quarterly revenue was up .4% on a year-over-year basis. On average, analysts expect that Tyson Foods, Inc. will post 2.33 earnings per share for the current year.

Tyson Foods Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Friday, May 31st will be paid a $0.49 dividend. The ex-dividend date is Friday, May 31st. This represents a $1.96 annualized dividend and a dividend yield of 3.35%. Tyson Foods’s dividend payout ratio (DPR) is currently -79.35%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. Piper Sandler upped their price target on Tyson Foods from $44.00 to $48.00 and gave the company a “neutral” rating in a research report on Friday, January 26th. JPMorgan Chase & Co. upped their price target on Tyson Foods from $51.00 to $55.00 and gave the company a “neutral” rating in a research report on Thursday, February 1st. The Goldman Sachs Group upped their price target on Tyson Foods from $49.00 to $54.00 and gave the company a “neutral” rating in a research report on Wednesday. Bank of America raised Tyson Foods from an “underperform” rating to a “neutral” rating and upped their price target for the company from $47.00 to $62.00 in a research report on Tuesday, February 6th. Finally, BMO Capital Markets upped their target price on Tyson Foods from $52.00 to $55.00 and gave the stock a “market perform” rating in a research report on Tuesday, February 6th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $58.80.

About Tyson Foods

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.