iA Global Asset Management Inc. Raises Stock Position in Tyson Foods, Inc. $TSN

iA Global Asset Management Inc. lifted its stake in shares of Tyson Foods, Inc. (NYSE:TSN) by 573.4% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 23,804 shares of the company’s stock after buying an additional 20,269 shares during the quarter. iA Global Asset Management Inc.’s holdings in Tyson Foods were worth $1,332,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of TSN. State of Alaska Department of Revenue grew its stake in shares of Tyson Foods by 70.5% during the 2nd quarter. State of Alaska Department of Revenue now owns 57,141 shares of the company’s stock worth $3,195,000 after purchasing an additional 23,625 shares during the period. Robeco Institutional Asset Management B.V. grew its stake in Tyson Foods by 66.6% in the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 332,578 shares of the company’s stock valued at $18,604,000 after acquiring an additional 132,947 shares during the last quarter. Y Intercept Hong Kong Ltd grew its stake in Tyson Foods by 128.9% in the 2nd quarter. Y Intercept Hong Kong Ltd now owns 54,548 shares of the company’s stock valued at $3,051,000 after acquiring an additional 30,713 shares during the last quarter. Tabor Asset Management LP acquired a new stake in Tyson Foods in the 1st quarter valued at about $2,180,000. Finally, World Investment Advisors grew its stake in Tyson Foods by 54.2% in the 1st quarter. World Investment Advisors now owns 14,861 shares of the company’s stock valued at $948,000 after acquiring an additional 5,226 shares during the last quarter. Hedge funds and other institutional investors own 67.00% of the company’s stock.

Tyson Foods Price Performance

TSN opened at $51.61 on Tuesday. The company’s 50 day simple moving average is $53.94 and its 200 day simple moving average is $55.30. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.78 and a current ratio of 1.73. Tyson Foods, Inc. has a 1 year low of $50.56 and a 1 year high of $65.95. The stock has a market capitalization of $18.36 billion, a PE ratio of 23.46, a P/E/G ratio of 0.85 and a beta of 0.57.

Tyson Foods (NYSE:TSN) last released its earnings results on Monday, August 4th. The company reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.72 by $0.19. Tyson Foods had a net margin of 1.45% and a return on equity of 7.49%. The business had revenue of $13.88 billion for the quarter, compared to analysts’ expectations of $13.54 billion. During the same period last year, the company earned $0.87 earnings per share. The company’s quarterly revenue was up 4.0% on a year-over-year basis. As a group, sell-side analysts expect that Tyson Foods, Inc. will post 3.8 EPS for the current year.

Tyson Foods announced that its board has initiated a stock buyback program on Thursday, August 7th that authorizes the company to repurchase 43,000,000 outstanding shares. This repurchase authorization authorizes the company to repurchase shares of its stock through open market purchases. Shares repurchase programs are usually a sign that the company’s board believes its shares are undervalued.

Tyson Foods Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 1st will be given a $0.50 dividend. The ex-dividend date of this dividend is Monday, December 1st. This represents a $2.00 annualized dividend and a dividend yield of 3.9%. Tyson Foods’s dividend payout ratio (DPR) is currently 90.91%.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on TSN shares. Bernstein Bank cut shares of Tyson Foods to a “market perform” rating and lowered their price objective for the company from $74.00 to $59.00 in a research note on Wednesday, July 23rd. Sanford C. Bernstein cut shares of Tyson Foods from an “outperform” rating to a “market perform” rating and lowered their price objective for the company from $74.00 to $59.00 in a research note on Wednesday, July 23rd. BMO Capital Markets lowered their price objective on shares of Tyson Foods from $62.00 to $58.00 and set a “market perform” rating on the stock in a research note on Monday, July 28th. Weiss Ratings reissued a “hold (c)” rating on shares of Tyson Foods in a research note on Wednesday, October 8th. Finally, JP Morgan Cazenove lowered their price objective on shares of Tyson Foods from $61.00 to $60.00 and set a “neutral” rating on the stock in a research note on Monday, July 7th. Two equities research analysts have rated the stock with a Buy rating and fifteen have given a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $60.92.

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.