Palisade Asset Management LLC Cuts Stock Position in Tyson Foods, Inc. (NYSE:TSN)

Palisade Asset Management LLC decreased its position in shares of Tyson Foods, Inc. (NYSE:TSN) by 5.0% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 19,775 shares of the company’s stock after selling 1,033 shares during the period. Palisade Asset Management LLC’s holdings in Tyson Foods were worth $1,063,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in TSN. Sugarloaf Wealth Management LLC increased its stake in Tyson Foods by 74.7% during the 3rd quarter. Sugarloaf Wealth Management LLC now owns 594 shares of the company’s stock worth $30,000 after buying an additional 254 shares during the period. Manchester Capital Management LLC increased its stake in Tyson Foods by 501.9% during the 3rd quarter. Manchester Capital Management LLC now owns 620 shares of the company’s stock worth $31,000 after buying an additional 517 shares during the period. Massmutual Trust Co. FSB ADV increased its position in shares of Tyson Foods by 47.4% in the 4th quarter. Massmutual Trust Co. FSB ADV now owns 647 shares of the company’s stock worth $35,000 after purchasing an additional 208 shares during the last quarter. Lindbrook Capital LLC increased its position in shares of Tyson Foods by 306.8% in the 3rd quarter. Lindbrook Capital LLC now owns 716 shares of the company’s stock worth $36,000 after purchasing an additional 540 shares during the last quarter. Finally, Montag A & Associates Inc. bought a new stake in shares of Tyson Foods in the 3rd quarter worth about $39,000. Hedge funds and other institutional investors own 67.00% of the company’s stock.

Tyson Foods Trading Up 0.7 %

Shares of TSN stock traded up $0.39 during trading hours on Tuesday, reaching $58.89. 3,502,995 shares of the stock traded hands, compared to its average volume of 2,877,537. Tyson Foods, Inc. has a 1-year low of $44.94 and a 1-year high of $62.04. The business has a fifty day moving average price of $57.89 and a 200 day moving average price of $53.62. The company has a quick ratio of 0.67, a current ratio of 1.49 and a debt-to-equity ratio of 0.46. The firm has a market capitalization of $20.99 billion, a PE ratio of -23.84, a PEG ratio of 0.49 and a beta of 0.74.

Tyson Foods (NYSE:TSN) last announced its quarterly earnings data on Monday, May 6th. The company reported $0.62 EPS for the quarter, beating analysts’ consensus estimates of $0.39 by $0.23. Tyson Foods had a negative net margin of 1.62% and a positive return on equity of 2.23%. The firm had revenue of $13.07 billion for the quarter, compared to the consensus estimate of $13.16 billion. During the same period in the previous year, the firm posted ($0.04) earnings per share. The firm’s revenue was down .5% on a year-over-year basis. On average, equities research analysts forecast that Tyson Foods, Inc. will post 2.33 EPS for the current year.

Tyson Foods Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Friday, May 31st will be given a $0.49 dividend. This represents a $1.96 annualized dividend and a yield of 3.33%. The ex-dividend date of this dividend is Friday, May 31st. Tyson Foods’s dividend payout ratio is -79.35%.

Analysts Set New Price Targets

TSN has been the subject of several research analyst reports. Piper Sandler boosted their target price on shares of Tyson Foods from $55.00 to $57.00 and gave the stock a “neutral” rating in a research report on Tuesday. HSBC boosted their target price on shares of Tyson Foods from $48.00 to $51.00 and gave the company a “reduce” rating in a research note on Tuesday. BMO Capital Markets boosted their target price on shares of Tyson Foods from $55.00 to $58.00 and gave the company a “market perform” rating in a research note on Tuesday. JPMorgan Chase & Co. boosted their price target on shares of Tyson Foods from $58.00 to $59.00 in a research report on Monday. Finally, Barclays upgraded shares of Tyson Foods from an “underweight” rating to an “overweight” rating and boosted their price target for the stock from $53.00 to $69.00 in a research report on Tuesday, April 16th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $60.60.

Insiders Place Their Bets

In related news, Director Noel W. White sold 9,000 shares of the company’s stock in a transaction on 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 sale, the director now directly owns 31,115 shares of the company’s stock, valued at approximately $1,672,431.25. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 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.