Bank of New York Mellon Corp Buys 427,582 Shares of Tyson Foods, Inc. (NYSE:TSN)

Bank of New York Mellon Corp increased its position in Tyson Foods, Inc. (NYSE:TSN) by 14.8% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,315,701 shares of the company’s stock after purchasing an additional 427,582 shares during the period. Bank of New York Mellon Corp owned approximately 0.93% of Tyson Foods worth $190,454,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of TSN. Brooklyn Investment Group lifted its stake in shares of Tyson Foods by 2,478.3% in the fourth quarter. Brooklyn Investment Group now owns 593 shares of the company’s stock worth $34,000 after buying an additional 570 shares in the last quarter. Catalyst Capital Advisors LLC raised its holdings in Tyson Foods by 56.1% in the 3rd quarter. Catalyst Capital Advisors LLC now owns 584 shares of the company’s stock worth $35,000 after acquiring an additional 210 shares during the last quarter. Harvest Fund Management Co. Ltd bought a new position in Tyson Foods in the 3rd quarter valued at approximately $36,000. ST Germain D J Co. Inc. purchased a new stake in Tyson Foods during the 4th quarter valued at $42,000. Finally, Fiduciary Advisors Inc. bought a new stake in shares of Tyson Foods in the 4th quarter worth $53,000. 67.00% of the stock is owned by hedge funds and other institutional investors.

Tyson Foods Trading Up 1.2 %

Shares of TSN stock opened at $61.01 on Friday. Tyson Foods, Inc. has a 1 year low of $52.11 and a 1 year high of $66.88. The firm has a fifty day moving average price of $57.37 and a 200-day moving average price of $60.03. The company has a market cap of $21.73 billion, a price-to-earnings ratio of 20.61, a PEG ratio of 0.74 and a beta of 0.80. 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 issued its quarterly earnings results on Monday, February 3rd. The company reported $1.14 EPS for the quarter, topping analysts’ consensus estimates of $0.79 by $0.35. Tyson Foods had a return on equity of 6.87% and a net margin of 1.96%. The business had revenue of $13.62 billion during the quarter, compared to analysts’ expectations of $13.46 billion. During the same quarter in the prior year, the business posted $0.69 earnings per share. The business’s quarterly revenue was up 2.3% on a year-over-year basis. As a group, equities analysts predict that Tyson Foods, Inc. will post 3.8 earnings per share for the current year.

Tyson Foods Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Friday, May 30th will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 3.28%. The ex-dividend date is Friday, May 30th. Tyson Foods’s dividend payout ratio is currently 67.57%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on TSN. Piper Sandler raised Tyson Foods from an “underweight” rating to a “neutral” rating and set a $58.00 price target on the stock in a report on Tuesday, February 4th. Citigroup lowered their target price on shares of Tyson Foods from $63.00 to $61.00 and set a “neutral” rating on the stock in a research note on Friday, January 31st. BMO Capital Markets lifted their price target on shares of Tyson Foods from $60.00 to $62.00 and gave the stock a “market perform” rating in a research note on Wednesday, November 13th. UBS Group began coverage on shares of Tyson Foods in a research report on Friday, January 10th. They set a “neutral” rating and a $62.00 price objective on the stock. Finally, Stephens lifted their target price on shares of Tyson Foods from $60.00 to $63.00 and gave the stock an “equal weight” rating in a research report on Tuesday, February 4th. Ten research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $61.10.

Tyson Foods Company Profile

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.