Readystate Asset Management LP Takes $1.55 Million Position in Tyson Foods, Inc. (NYSE:TSN)

Readystate Asset Management LP bought a new stake in Tyson Foods, Inc. (NYSE:TSN) in the 4th quarter, according to its most recent 13F filing with the SEC. The firm bought 28,849 shares of the company’s stock, valued at approximately $1,551,000.

A number of other hedge funds have also added to or reduced their stakes in TSN. Cantor Fitzgerald Investment Advisor L.P boosted its stake in Tyson Foods by 94.9% during the 1st quarter. Cantor Fitzgerald Investment Advisor L.P now owns 317,286 shares of the company’s stock valued at $28,439,000 after purchasing an additional 154,507 shares during the last quarter. Markel Corp boosted its stake in shares of Tyson Foods by 2.1% in the 1st quarter. Markel Corp now owns 384,500 shares of the company’s stock worth $34,463,000 after buying an additional 8,000 shares during the last quarter. Aviva PLC boosted its stake in shares of Tyson Foods by 25.5% in the 1st quarter. Aviva PLC now owns 121,466 shares of the company’s stock worth $10,887,000 after buying an additional 24,669 shares during the last quarter. Prudential PLC purchased a new position in shares of Tyson Foods in the 1st quarter worth approximately $747,000. Finally, Vanguard Group Inc. boosted its stake in shares of Tyson Foods by 6.4% in the 1st quarter. Vanguard Group Inc. now owns 37,179,555 shares of the company’s stock worth $3,332,404,000 after buying an additional 2,239,235 shares during the last quarter. Institutional investors and hedge funds own 67.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on TSN. The Goldman Sachs Group lifted their price target on shares of Tyson Foods from $49.00 to $54.00 and gave the stock a “neutral” rating in a report on Wednesday. Citigroup lifted their price target on shares of Tyson Foods from $57.00 to $62.00 and gave the stock a “neutral” rating in a report on Wednesday, April 3rd. Piper Sandler lifted their price target on shares of Tyson Foods from $44.00 to $48.00 and gave the stock a “neutral” rating in a report on Friday, January 26th. Bank of America raised shares of Tyson Foods from an “underperform” rating to a “neutral” rating and lifted their price target for the stock from $47.00 to $62.00 in a report on Tuesday, February 6th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Tyson Foods from $51.00 to $55.00 and gave the stock a “neutral” rating in a report on Thursday, February 1st. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, Tyson Foods currently has a consensus rating of “Hold” and a consensus price target of $58.80.

Tyson Foods Price Performance

NYSE:TSN traded up $0.43 during midday trading on Wednesday, hitting $58.58. The company had a trading volume of 1,543,276 shares, compared to its average volume of 2,892,545. Tyson Foods, Inc. has a 52-week low of $44.94 and a 52-week high of $63.28. The stock’s fifty day moving average price is $55.87 and its 200-day moving average price is $52.32. The company has a market capitalization of $20.87 billion, a PE ratio of -23.72, a P/E/G ratio of 0.46 and a beta of 0.77. The company has a quick ratio of 0.67, a current ratio of 1.49 and a debt-to-equity ratio of 0.46.

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

Tyson Foods Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Friday, May 31st will be given a dividend of $0.49 per share. The ex-dividend date of this dividend is Friday, May 31st. This represents a $1.96 annualized dividend and a yield of 3.35%. Tyson Foods’s payout ratio is -79.35%.

Insider Buying and Selling at Tyson Foods

In other news, Director Noel W. White sold 9,000 shares of the company’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $53.75, for a total transaction of $483,750.00. Following the completion of the transaction, the director now directly owns 31,115 shares of the company’s stock, valued at $1,672,431.25. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 2.05% of the company’s stock.

Tyson Foods 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.