Allstate Corp Purchases 9,436 Shares of Tyson Foods, Inc. $TSN

Allstate Corp raised its stake in Tyson Foods, Inc. (NYSE:TSNFree Report) by 91.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,791 shares of the company’s stock after acquiring an additional 9,436 shares during the period. Allstate Corp’s holdings in Tyson Foods were worth $1,160,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. JPMorgan Chase & Co. raised its stake in Tyson Foods by 73.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,879,219 shares of the company’s stock worth $102,042,000 after buying an additional 795,710 shares during the period. Meiji Yasuda Asset Management Co Ltd. raised its position in shares of Tyson Foods by 306.4% in the third quarter. Meiji Yasuda Asset Management Co Ltd. now owns 48,009 shares of the company’s stock worth $2,607,000 after buying an additional 36,197 shares in the last quarter. AIA Group Ltd raised its position in shares of Tyson Foods by 78.8% in the third quarter. AIA Group Ltd now owns 51,197 shares of the company’s stock worth $2,780,000 after buying an additional 22,571 shares in the last quarter. Arnhold LLC purchased a new stake in Tyson Foods during the third quarter valued at about $3,166,000. Finally, National Pension Service raised its position in Tyson Foods by 35.1% during the third quarter. National Pension Service now owns 210,307 shares of the company’s stock valued at $11,420,000 after purchasing an additional 54,678 shares in the last quarter. Institutional investors own 67.00% of the company’s stock.

Tyson Foods Stock Down 1.3%

TSN stock opened at $61.20 on Friday. The firm has a 50-day moving average of $64.55 and a two-hundred day moving average of $61.57. Tyson Foods, Inc. has a 12 month low of $50.56 and a 12 month high of $69.48. The company has a current ratio of 1.83, a quick ratio of 0.70 and a debt-to-equity ratio of 0.44. The company has a market cap of $21.55 billion, a price-to-earnings ratio of 48.19, a PEG ratio of 1.27 and a beta of 0.40.

Tyson Foods (NYSE:TSNGet Free Report) last issued its quarterly earnings results on Monday, May 4th. The company reported $0.87 EPS for the quarter, beating the consensus estimate of $0.76 by $0.11. Tyson Foods had a net margin of 0.81% and a return on equity of 7.59%. The company had revenue of $13.65 billion during the quarter, compared to analysts’ expectations of $13.63 billion. During the same quarter last year, the company posted $0.92 EPS. The firm’s revenue was up 4.4% compared to the same quarter last year. As a group, analysts forecast that Tyson Foods, Inc. will post 4.1 earnings per share for the current fiscal year.

Tyson Foods Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st will be given a dividend of $0.51 per share. The ex-dividend date is Tuesday, September 1st. This represents a $2.04 dividend on an annualized basis and a yield of 3.3%. Tyson Foods’s payout ratio is presently 160.63%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. Barclays upped their target price on Tyson Foods from $75.00 to $78.00 and gave the stock an “overweight” rating in a report on Tuesday, February 3rd. Sanford C. Bernstein restated a “market perform” rating and set a $69.00 target price on shares of Tyson Foods in a research report on Tuesday, February 3rd. Stephens boosted their price objective on shares of Tyson Foods from $65.00 to $70.00 and gave the stock an “equal weight” rating in a research note on Tuesday, May 5th. Mizuho initiated coverage on shares of Tyson Foods in a research note on Thursday, March 26th. They issued an “outperform” rating and a $72.00 price objective for the company. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Tyson Foods from $67.00 to $65.00 and set a “neutral” rating for the company in a research note on Tuesday, March 24th. Five equities research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $68.27.

Read Our Latest Stock Analysis on Tyson Foods

About Tyson Foods

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Tyson Foods (NYSE:TSN)

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