Tyson Foods, Inc. (NYSE:TSN) Shares Sold by Comerica Bank

Comerica Bank trimmed its position in Tyson Foods, Inc. (NYSE:TSN) by 3.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 60,336 shares of the company’s stock after selling 1,936 shares during the quarter. Comerica Bank’s holdings in Tyson Foods were worth $3,466,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. Norges Bank acquired a new position in Tyson Foods in the fourth quarter valued at approximately $175,086,000. Arrowstreet Capital Limited Partnership lifted its stake in shares of Tyson Foods by 83.5% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,211,722 shares of the company’s stock valued at $69,601,000 after purchasing an additional 551,530 shares during the last quarter. Barclays PLC grew its holdings in shares of Tyson Foods by 66.1% during the 3rd quarter. Barclays PLC now owns 1,122,285 shares of the company’s stock worth $66,841,000 after purchasing an additional 446,648 shares during the period. Bank of New York Mellon Corp increased its position in shares of Tyson Foods by 14.8% during the 4th quarter. Bank of New York Mellon Corp now owns 3,315,701 shares of the company’s stock worth $190,454,000 after purchasing an additional 427,582 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in Tyson Foods in the 4th quarter valued at about $22,059,000. Hedge funds and other institutional investors own 67.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on TSN. Barclays dropped their price target on shares of Tyson Foods from $76.00 to $75.00 and set an “overweight” rating for the company in a research report on Tuesday, January 21st. Piper Sandler raised shares of Tyson Foods from an “underweight” rating to a “neutral” rating and set a $58.00 price target on the stock in a research report on Tuesday, February 4th. UBS Group assumed coverage on shares of Tyson Foods in a research report on Friday, January 10th. They issued a “neutral” rating and a $62.00 price target for the company. Stephens reduced their price objective on Tyson Foods from $63.00 to $61.00 and set an “equal weight” rating on the stock in a research note on Tuesday. Finally, StockNews.com cut Tyson Foods from a “buy” rating to a “hold” rating in a research note on Tuesday. Ten research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $61.33.

Tyson Foods Stock Down 0.5 %

TSN stock opened at $55.81 on Wednesday. The company has a market cap of $19.88 billion, a price-to-earnings ratio of 18.85, a price-to-earnings-growth ratio of 0.74 and a beta of 0.63. The company has a fifty day moving average price of $60.66 and a 200 day moving average price of $59.72. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.11 and a quick ratio of 1.04. Tyson Foods, Inc. has a 12 month low of $53.61 and a 12 month high of $66.88.

Tyson Foods (NYSE:TSN) last announced its earnings results on Monday, May 5th. The company reported $0.92 earnings per share for the quarter, topping the consensus estimate of $0.85 by $0.07. The business had revenue of $13.07 billion during the quarter, compared to the consensus estimate of $13.15 billion. Tyson Foods had a net margin of 1.96% and a return on equity of 6.87%. The business’s quarterly revenue was up .0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.62 earnings per share. Sell-side analysts expect that Tyson Foods, Inc. will post 3.8 earnings per share for the current year.

Tyson Foods Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Friday, May 30th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Friday, May 30th. This represents a $2.00 dividend on an annualized basis and a yield of 3.58%. Tyson Foods’s payout ratio is currently 67.57%.

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.