Econ Financial Services Corp Makes New Investment in Tyson Foods, Inc. $TSN

Econ Financial Services Corp bought a new position in Tyson Foods, Inc. (NYSE:TSN) during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 48,772 shares of the company’s stock, valued at approximately $3,125,000. Tyson Foods comprises 1.5% of Econ Financial Services Corp’s holdings, making the stock its 27th largest holding.

Several other institutional investors also recently modified their holdings of the business. City Holding Co. bought a new stake in Tyson Foods during the fourth quarter worth $29,000. Cary Street Partners Investment Advisory LLC grew its stake in Tyson Foods by 62.3% in the 4th quarter. Cary Street Partners Investment Advisory LLC now owns 516 shares of the company’s stock valued at $30,000 after purchasing an additional 198 shares during the period. Activest Wealth Management increased its position in shares of Tyson Foods by 3,842.9% during the 4th quarter. Activest Wealth Management now owns 552 shares of the company’s stock valued at $32,000 after purchasing an additional 538 shares during the last quarter. ORG Partners LLC increased its position in shares of Tyson Foods by 2,519.2% during the 4th quarter. ORG Partners LLC now owns 681 shares of the company’s stock valued at $40,000 after purchasing an additional 655 shares during the last quarter. Finally, Brown Brothers Harriman & Co. increased its position in shares of Tyson Foods by 110.3% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 732 shares of the company’s stock valued at $40,000 after purchasing an additional 384 shares during the last quarter. 67.00% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Stephens boosted their price target on shares of Tyson Foods from $65.00 to $70.00 and gave the stock an “equal weight” rating in a report on Tuesday, May 5th. Piper Sandler restated an “overweight” rating and set a $78.00 price objective (down from $80.00) on shares of Tyson Foods in a report on Thursday, June 18th. Mizuho started coverage on shares of Tyson Foods in a research report on Thursday, March 26th. They issued an “outperform” rating and a $72.00 price objective on the stock. Weiss Ratings upgraded shares of Tyson Foods from a “hold (c)” rating to a “hold (c+)” rating in a research note on Tuesday. Finally, Wall Street Zen downgraded shares of Tyson Foods from a “buy” rating to a “hold” rating in a research report on Saturday, June 20th. Four equities research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. According to data from MarketBeat, Tyson Foods has an average rating of “Hold” and an average target price of $68.20.

Tyson Foods Stock Performance

Shares of TSN opened at $58.54 on Friday. Tyson Foods, Inc. has a 1 year low of $50.56 and a 1 year high of $69.48. 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 stock’s fifty day moving average price is $62.13 and its two-hundred day moving average price is $61.79. The firm has a market cap of $20.61 billion, a PE ratio of 46.09, a PEG ratio of 1.17 and a beta of 0.38.

Tyson Foods (NYSE:TSN) last posted its quarterly earnings results on Monday, May 4th. The company reported $0.87 earnings per share for the quarter, topping the consensus estimate of $0.76 by $0.11. Tyson Foods had a return on equity of 7.59% and a net margin of 0.81%.The company had revenue of $13.65 billion during the quarter, compared to the consensus estimate of $13.63 billion. During the same quarter in the prior year, the company earned $0.92 EPS. The firm’s quarterly revenue was up 4.4% compared to the same quarter last year. On average, equities research analysts forecast that Tyson Foods, Inc. will post 4.16 EPS for the current year.

Tyson Foods Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st will be issued 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 yield of 3.5%. Tyson Foods’s dividend payout ratio is 160.63%.

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.