78,303 Shares in Tyson Foods, Inc. $TSN Acquired by Wedge Capital Management L L P NC
Wedge Capital Management L L P NC acquired 78,303 shares of Tyson Foods, Inc. (NYSE:TSN) valued at approximately $4.38 million in Q2, as per its recent SEC filing. Other institutional investors have also increased their stakes in the company. Tyson Foods' stock opened at $53.60, with a market cap of $19.07 billion. The company reported a quarterly EPS of $0.91, exceeding estimates, and declared a quarterly dividend of $0.50 per share. Additionally, a stock repurchase plan for 43 million shares was initiated, indicating management's belief in the stock's undervaluation.
Wedge Capital Management L L P NC acquired a new position in Tyson Foods, Inc. (NYSE:TSN - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 78,303 shares of the company's stock, valued at approximately $4,380,000.
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Other institutional investors have also recently bought and sold shares of the company. Bessemer Group Inc. raised its position in Tyson Foods by 11.3% in the 1st quarter. Bessemer Group Inc. now owns 6,399 shares of the company's stock worth $408,000 after purchasing an additional 651 shares during the last quarter. Tabor Asset Management LP bought a new position in Tyson Foods in the 1st quarter worth approximately $2,180,000. VELA Investment Management LLC grew its holdings in Tyson Foods by 45.6% during the 1st quarter. VELA Investment Management LLC now owns 17,678 shares of the company's stock worth $1,128,000 after acquiring an additional 5,537 shares during the period. World Investment Advisors grew its holdings in Tyson Foods by 54.2% during the 1st quarter. World Investment Advisors now owns 14,861 shares of the company's stock worth $948,000 after acquiring an additional 5,226 shares during the period. Finally, Summit Global Investments grew its holdings in Tyson Foods by 212.8% during the 1st quarter. Summit Global Investments now owns 230,921 shares of the company's stock worth $14,735,000 after acquiring an additional 157,092 shares during the period. Institutional investors own 67.00% of the company's stock.
Tyson Foods Trading Down 0.8%
Shares of NYSE:TSN opened at $53.60 on Friday. The company's 50-day moving average price is $55.29 and its two-hundred day moving average price is $57.08. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.73 and a quick ratio of 0.78. Tyson Foods, Inc. has a one year low of $51.85 and a one year high of $65.95. The stock has a market capitalization of $19.07 billion, a PE ratio of 24.36, a price-to-earnings-growth ratio of 0.73 and a beta of 0.59.
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Tyson Foods (NYSE:TSN - Get Free Report) last issued its quarterly earnings results on Monday, August 4th. The company reported $0.91 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 firm had revenue of $13.88 billion for the quarter, compared to analysts' expectations of $13.54 billion. During the same period in the previous year, the firm posted $0.87 EPS. The company's revenue for the quarter was up 4.0% on a year-over-year basis. Tyson Foods has set its FY 2025 guidance at EPS. On average, equities analysts forecast that Tyson Foods, Inc. will post 3.8 EPS for the current fiscal year.
Tyson Foods Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 1st will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Monday, December 1st. This represents a $2.00 annualized dividend and a yield of 3.7%. Tyson Foods's payout ratio is 90.91%.
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Tyson Foods announced that its board has initiated a stock repurchase plan on Thursday, August 7th that allows the company to repurchase 43,000,000 outstanding shares. This repurchase authorization allows the company to reacquire shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's leadership believes its shares are undervalued.
Wall Street Analysts Forecast Growth
TSN has been the subject of a number of analyst reports. JP Morgan Cazenove lowered their target price on shares of Tyson Foods from $61.00 to $60.00 and set a "neutral" rating for the company in a report on Monday, July 7th. JPMorgan Chase & Co. initiated coverage on shares of Tyson Foods in a report on Wednesday, August 20th. They set a "neutral" rating and a $60.00 target price for the company. BMO Capital Markets lowered their target price on shares of Tyson Foods from $62.00 to $58.00 and set a "market perform" rating for the company in a report on Monday, July 28th. Sanford C. Bernstein lowered shares of Tyson Foods from an "outperform" rating to a "market perform" rating and lowered their target price for the stock from $74.00 to $59.00 in a report on Wednesday, July 23rd. Finally, Stephens lowered their target price on shares of Tyson Foods from $61.00 to $55.00 in a report on Tuesday, July 15th. Two equities research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $61.25.
View Our Latest Report on Tyson Foods
About Tyson Foods
(Free Report)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.
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