Cibc World Markets Corp Acquires 14,774 Shares of Tyson Foods, Inc. (NYSE:TSN)

Cibc World Markets Corp increased its holdings in Tyson Foods, Inc. (NYSE:TSN) by 15.2% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 112,144 shares of the company’s stock after buying an additional 14,774 shares during the period. Cibc World Markets Corp’s holdings in Tyson Foods were worth $6,442,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the stock. JPMorgan Chase & Co. raised its position in shares of Tyson Foods by 44.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,140,309 shares of the company’s stock worth $67,917,000 after acquiring an additional 352,863 shares in the last quarter. Handelsbanken Fonder AB raised its holdings in Tyson Foods by 17.2% in the fourth quarter. Handelsbanken Fonder AB now owns 4,975 shares of the company’s stock worth $286,000 after purchasing an additional 729 shares in the last quarter. Sound Income Strategies LLC lifted its position in shares of Tyson Foods by 14.0% during the fourth quarter. Sound Income Strategies LLC now owns 56,537 shares of the company’s stock valued at $3,248,000 after buying an additional 6,955 shares during the last quarter. Empowered Funds LLC boosted its holdings in shares of Tyson Foods by 289.9% in the 4th quarter. Empowered Funds LLC now owns 24,288 shares of the company’s stock valued at $1,395,000 after buying an additional 18,059 shares in the last quarter. Finally, Everence Capital Management Inc. purchased a new position in shares of Tyson Foods in the 4th quarter worth approximately $775,000. Hedge funds and other institutional investors own 67.00% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Hsbc Global Res upgraded Tyson Foods from a “moderate sell” rating to a “hold” rating in a research note on Monday, February 3rd. UBS Group assumed coverage on Tyson Foods in a research note on Friday, January 10th. They issued a “neutral” rating and a $62.00 target price for the company. Citigroup dropped their price target on Tyson Foods from $63.00 to $61.00 and set a “neutral” rating on the stock in a research note on Friday, January 31st. Stephens raised their price objective on Tyson Foods from $60.00 to $63.00 and gave the stock an “equal weight” rating in a research note on Tuesday, February 4th. Finally, Piper Sandler upgraded Tyson Foods from an “underweight” rating to a “neutral” rating and set a $58.00 target price on the stock in a research report on Tuesday, February 4th. Ten equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $61.10.

Tyson Foods Stock Performance

TSN opened at $60.44 on Wednesday. The firm has a fifty day moving average price of $58.22 and a 200 day moving average price of $59.79. Tyson Foods, Inc. has a 1 year low of $53.61 and a 1 year high of $66.88. The stock has a market cap of $21.53 billion, a P/E ratio of 20.42, a P/E/G ratio of 0.74 and a beta of 0.72. 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 (NYSE:TSN) last posted its earnings results on Monday, February 3rd. The company reported $1.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.79 by $0.35. Tyson Foods had a net margin of 1.96% and a return on equity of 6.87%. The business had revenue of $13.62 billion for the quarter, compared to analyst estimates of $13.46 billion. During the same period in the prior year, the company posted $0.69 EPS. The company’s revenue for the quarter was up 2.3% on a year-over-year basis. Equities research analysts anticipate that Tyson Foods, Inc. will post 3.8 earnings per share for the current year.

Tyson Foods Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Friday, May 30th will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 3.31%. The ex-dividend date of this dividend is Friday, May 30th. Tyson Foods’s payout ratio is 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.