Bank of New York Mellon Corp Purchases 13,736 Shares of Tyson Foods, Inc. $TSN

Bank of New York Mellon Corp lifted its holdings in Tyson Foods, Inc. (NYSE:TSN) by 0.6% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 2,194,379 shares of the company’s stock after buying an additional 13,736 shares during the period. Bank of New York Mellon Corp’s holdings in Tyson Foods were worth $122,754,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in TSN. State of Alaska Department of Revenue raised its holdings in Tyson Foods by 70.5% during the second quarter. State of Alaska Department of Revenue now owns 57,141 shares of the company’s stock worth $3,195,000 after buying an additional 23,625 shares during the last quarter. Robeco Institutional Asset Management B.V. grew its holdings in shares of Tyson Foods by 66.6% during the second quarter. Robeco Institutional Asset Management B.V. now owns 332,578 shares of the company’s stock valued at $18,604,000 after buying an additional 132,947 shares during the last quarter. Y Intercept Hong Kong Ltd increased its position in shares of Tyson Foods by 128.9% during the second quarter. Y Intercept Hong Kong Ltd now owns 54,548 shares of the company’s stock worth $3,051,000 after acquiring an additional 30,713 shares in the last quarter. Tabor Asset Management LP acquired a new stake in shares of Tyson Foods in the 1st quarter worth about $2,180,000. Finally, Public Employees Retirement System of Ohio lifted its position in Tyson Foods by 7.9% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 93,491 shares of the company’s stock valued at $5,230,000 after acquiring an additional 6,875 shares in the last quarter. Institutional investors own 67.00% of the company’s stock.

Analyst Ratings Changes

TSN has been the subject of a number of recent research reports. Zacks Research raised Tyson Foods from a “strong sell” rating to a “hold” rating in a report on Thursday, October 30th. Stephens cut their target price on Tyson Foods from $61.00 to $55.00 in a research report on Tuesday, July 15th. Bernstein Bank lowered Tyson Foods to a “market perform” rating and lowered their price target for the company from $74.00 to $59.00 in a research report on Wednesday, July 23rd. Sanford C. Bernstein lowered Tyson Foods from an “outperform” rating to a “market perform” rating and lowered their price target for the company from $74.00 to $59.00 in a research report on Wednesday, July 23rd. Finally, JPMorgan Chase & Co. assumed coverage on Tyson Foods in a research note on Wednesday, August 20th. They set a “neutral” rating and a $60.00 price objective on the stock. Two investment analysts have rated the stock with a Buy rating and fifteen have assigned a Hold rating to the company. According to MarketBeat, Tyson Foods has an average rating of “Hold” and an average price target of $60.92.

Tyson Foods Stock Performance

Shares of TSN opened at $51.75 on Friday. The stock has a 50 day moving average of $53.65 and a 200 day moving average of $55.19. The company has a market capitalization of $18.41 billion, a price-to-earnings ratio of 23.52, a PEG ratio of 0.85 and a beta of 0.56. Tyson Foods, Inc. has a 12 month low of $50.56 and a 12 month high of $65.95. The company has a current ratio of 1.73, a quick ratio of 0.78 and a debt-to-equity ratio of 0.44.

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

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

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.