Tyson Foods, Inc. (NYSE:TSN) Stake Raised by Cornerstone Investment Partners LLC

Cornerstone Investment Partners LLC boosted its stake in shares of Tyson Foods, Inc. (NYSE:TSN) by 5.2% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 467,384 shares of the company’s stock after buying an additional 23,085 shares during the period. Tyson Foods comprises 2.0% of Cornerstone Investment Partners LLC’s investment portfolio, making the stock its 25th largest holding. Cornerstone Investment Partners LLC owned about 0.13% of Tyson Foods worth $27,907,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently bought and sold shares of TSN. Aristotle Capital Management LLC grew its stake in Tyson Foods by 2.7% during the 1st quarter. Aristotle Capital Management LLC now owns 8,381,851 shares of the company’s stock valued at $485,058,000 after acquiring an additional 217,299 shares in the last quarter. AQR Capital Management LLC lifted its holdings in shares of Tyson Foods by 6.7% during the first quarter. AQR Capital Management LLC now owns 6,161,003 shares of the company’s stock worth $355,428,000 after buying an additional 387,483 shares during the last quarter. Principal Financial Group Inc. raised its stake in shares of Tyson Foods by 5.8% in the first quarter. Principal Financial Group Inc. now owns 2,823,413 shares of the company’s stock valued at $163,391,000 after purchasing an additional 154,905 shares in the last quarter. Nuveen Asset Management LLC raised its stake in shares of Tyson Foods by 40.9% in the first quarter. Nuveen Asset Management LLC now owns 2,697,409 shares of the company’s stock valued at $156,099,000 after purchasing an additional 783,528 shares in the last quarter. Finally, Iridian Asset Management LLC CT grew its position in Tyson Foods by 5.8% in the first quarter. Iridian Asset Management LLC CT now owns 2,285,751 shares of the company’s stock valued at $132,276,000 after acquiring an additional 124,573 shares during the period. Hedge funds and other institutional investors own 66.11% of the company’s stock.

Several research firms recently issued reports on TSN. Zacks Investment Research cut Tyson Foods from a “hold” rating to a “sell” rating and set a $66.00 price target on the stock. in a report on Saturday, May 2nd. JPMorgan Chase & Co. decreased their price objective on Tyson Foods from $64.00 to $63.00 and set an “overweight” rating for the company in a report on Tuesday, May 5th. Piper Sandler downgraded Tyson Foods from an “overweight” rating to a “neutral” rating and decreased their price objective for the stock from $100.00 to $66.00 in a report on Tuesday, April 28th. BMO Capital Markets decreased their price target on Tyson Foods from $98.00 to $78.00 and set an “outperform” rating for the company in a research note on Tuesday, May 5th. Finally, Bank of America downgraded Tyson Foods from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $70.00 to $60.00 in a research note on Tuesday, May 5th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have given a buy rating to the company’s stock. Tyson Foods has a consensus rating of “Hold” and an average price target of $76.92.

TSN stock traded down $0.12 during trading on Friday, reaching $61.45. 2,040,654 shares of the stock were exchanged, compared to its average volume of 1,759,439. The firm’s 50 day moving average is $60.30 and its 200 day moving average is $65.61. Tyson Foods, Inc. has a twelve month low of $42.57 and a twelve month high of $94.24. The company has a current ratio of 1.61, a quick ratio of 0.70 and a debt-to-equity ratio of 0.75. The firm has a market cap of $22.39 billion, a P/E ratio of 11.44, a price-to-earnings-growth ratio of 2.55 and a beta of 0.65.

Tyson Foods (NYSE:TSN) last posted its quarterly earnings results on Monday, May 4th. The company reported $0.77 earnings per share for the quarter, missing analysts’ consensus estimates of $1.04 by ($0.27). The firm had revenue of $10.89 billion for the quarter, compared to analyst estimates of $11.01 billion. Tyson Foods had a return on equity of 13.01% and a net margin of 4.52%. The firm’s quarterly revenue was up 4.3% compared to the same quarter last year. During the same period last year, the company posted $1.20 earnings per share. As a group, analysts predict that Tyson Foods, Inc. will post 4.43 earnings per share for the current fiscal year.

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 issued a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 2.73%. The ex-dividend date is Monday, August 31st. Tyson Foods’s dividend payout ratio is presently 30.77%.

In other news, EVP Scott Rouse sold 600 shares of the company’s stock in a transaction that occurred on Wednesday, May 13th. The stock was sold at an average price of $58.12, for a total value of $34,872.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 1.69% of the company’s stock.

About Tyson Foods

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 live market 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; and raises and processes chickens into fresh, frozen, and value-added chicken products.

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Institutional Ownership by Quarter for Tyson Foods (NYSE:TSN)

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