Panagora Asset Management Inc. Purchases 400,960 Shares of Tyson Foods, Inc. $TSN

Panagora Asset Management Inc. increased its position in shares of Tyson Foods, Inc. (NYSE:TSN) by 69.3% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 979,941 shares of the company’s stock after buying an additional 400,960 shares during the period. Panagora Asset Management Inc. owned 0.28% of Tyson Foods worth $57,444,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. Empowered Funds LLC increased its stake in Tyson Foods by 15.6% in the first quarter. Empowered Funds LLC now owns 28,076 shares of the company’s stock valued at $1,792,000 after purchasing an additional 3,788 shares in the last quarter. Woodline Partners LP increased its stake in Tyson Foods by 40.8% in the first quarter. Woodline Partners LP now owns 24,178 shares of the company’s stock valued at $1,543,000 after purchasing an additional 7,011 shares in the last quarter. Focus Partners Wealth increased its stake in Tyson Foods by 84.0% in the first quarter. Focus Partners Wealth now owns 12,597 shares of the company’s stock valued at $804,000 after purchasing an additional 5,749 shares in the last quarter. Sivia Capital Partners LLC increased its stake in Tyson Foods by 100.3% in the second quarter. Sivia Capital Partners LLC now owns 7,393 shares of the company’s stock valued at $414,000 after purchasing an additional 3,702 shares in the last quarter. Finally, Cerity Partners LLC increased its stake in Tyson Foods by 129.2% in the second quarter. Cerity Partners LLC now owns 85,939 shares of the company’s stock valued at $4,807,000 after purchasing an additional 48,451 shares in the last quarter. Institutional investors own 67.00% of the company’s stock.

Tyson Foods Trading Down 0.0%

NYSE:TSN opened at $57.41 on Monday. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.83 and a quick ratio of 0.70. The firm has a 50-day moving average of $63.69 and a 200-day moving average of $61.86. The company has a market cap of $20.22 billion, a PE ratio of 45.21, a PEG ratio of 1.17 and a beta of 0.38. Tyson Foods, Inc. has a one year low of $50.56 and a one year high of $69.48.

Tyson Foods (NYSE:TSN) last posted its earnings results on Monday, May 4th. The company reported $0.87 EPS for the quarter, topping the consensus estimate of $0.76 by $0.11. The company had revenue of $13.65 billion during the quarter, compared to the consensus estimate of $13.63 billion. Tyson Foods had a net margin of 0.81% and a return on equity of 7.59%. The firm’s revenue for the quarter was up 4.4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.92 earnings per share. As a group, equities research analysts expect that Tyson Foods, Inc. will post 4.14 EPS for the current fiscal year.

Tyson Foods Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st will be given a dividend of $0.51 per share. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $2.04 annualized dividend and a dividend yield of 3.6%. Tyson Foods’s payout ratio is presently 160.63%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. Mizuho assumed coverage on shares of Tyson Foods in a research note on Thursday, March 26th. They issued an “outperform” rating and a $72.00 price target for the company. Piper Sandler reaffirmed an “overweight” rating and issued a $80.00 price target on shares of Tyson Foods in a research note on Monday, May 4th. JPMorgan Chase & Co. decreased their price target on shares of Tyson Foods from $67.00 to $65.00 and set a “neutral” rating for the company in a research note on Tuesday, March 24th. Stephens lifted their price target on shares of Tyson Foods from $65.00 to $70.00 and gave the company an “equal weight” rating in a research note on Tuesday, May 5th. Finally, Weiss Ratings downgraded shares of Tyson Foods from a “hold (c+)” rating to a “hold (c)” rating in a research note on Monday, June 8th. Five analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $68.27.

About Tyson Foods

Tyson Foods, Inc (NYSE: TSN) is a multinational food company primarily engaged in the production, processing and marketing of protein-based and prepared food products. Founded in 1935 and headquartered in Springdale, Arkansas, the company is one of the world’s largest processors of chicken, beef and pork. Its operations span live animal procurement and farming relationships through slaughter, further processing and distribution, supplying raw protein and value-added prepared foods to retail, foodservice and industrial customers.

The company’s product portfolio covers fresh and frozen meats, branded and private-label prepared foods, and a range of value-added items such as ready-to-eat and ready-to-cook meals, snack and sandwich meats.