Cornercap Investment Counsel Inc. Trims Stake in Tyson Foods, Inc. (NYSE:TSN)

Cornercap Investment Counsel Inc. lessened its holdings in shares of Tyson Foods, Inc. (NYSE:TSN) by 3.8% during the 4th quarter, HoldingsChannel reports. The fund owned 12,507 shares of the company’s stock after selling 497 shares during the quarter. Cornercap Investment Counsel Inc.’s holdings in Tyson Foods were worth $718,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of the business. JPMorgan Chase & Co. increased its holdings in Tyson Foods by 44.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,140,309 shares of the company’s stock worth $67,917,000 after acquiring an additional 352,863 shares in the last quarter. Handelsbanken Fonder AB grew its stake in Tyson Foods by 17.2% during the fourth quarter. Handelsbanken Fonder AB now owns 4,975 shares of the company’s stock valued at $286,000 after acquiring an additional 729 shares in the last quarter. Sound Income Strategies LLC increased its holdings in Tyson Foods by 14.0% in the 4th quarter. Sound Income Strategies LLC now owns 56,537 shares of the company’s stock valued at $3,248,000 after acquiring an additional 6,955 shares during the last quarter. Empowered Funds LLC lifted its stake in Tyson Foods by 289.9% in the 4th quarter. Empowered Funds LLC now owns 24,288 shares of the company’s stock worth $1,395,000 after purchasing an additional 18,059 shares in the last quarter. Finally, Everence Capital Management Inc. purchased a new position in shares of Tyson Foods during the fourth quarter valued at about $775,000. Institutional investors own 67.00% of the company’s stock.

Tyson Foods Stock Performance

Tyson Foods stock opened at $62.36 on Friday. Tyson Foods, Inc. has a 1-year low of $53.61 and a 1-year high of $66.88. The company’s 50-day moving average is $59.11 and its 200 day moving average is $59.60. The firm has a market capitalization of $22.21 billion, a P/E ratio of 21.07, a price-to-earnings-growth ratio of 0.74 and a beta of 0.72. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.11 and a quick ratio of 1.04.

Tyson Foods (NYSE:TSN) last issued its quarterly earnings results on Monday, February 3rd. The company reported $1.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.79 by $0.35. The firm had revenue of $13.62 billion during the quarter, compared to analyst estimates of $13.46 billion. Tyson Foods had a return on equity of 6.87% and a net margin of 1.96%. Tyson Foods’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same period last year, the company earned $0.69 EPS. Research analysts forecast that Tyson Foods, Inc. will post 3.8 EPS for the current year.

Tyson Foods Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Friday, May 30th will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 3.21%. The ex-dividend date is Friday, May 30th. Tyson Foods’s dividend payout ratio is 67.57%.

Analysts Set New Price Targets

A number of brokerages recently commented on TSN. Barclays dropped their price target on Tyson Foods from $76.00 to $75.00 and set an “overweight” rating for the company in a research note on Tuesday, January 21st. Citigroup lowered their target price on Tyson Foods from $63.00 to $61.00 and set a “neutral” rating for the company in a research report on Friday, January 31st. Stephens boosted their price target on shares of Tyson Foods from $60.00 to $63.00 and gave the stock an “equal weight” rating in a research report on Tuesday, February 4th. HSBC upgraded shares of Tyson Foods from a “reduce” rating to a “hold” rating in a research report on Monday, February 3rd. Finally, UBS Group started coverage on shares of Tyson Foods in a report on Friday, January 10th. They issued a “neutral” rating and a $62.00 target price on the stock. Ten analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, Tyson Foods has an average rating of “Hold” and a consensus target price of $61.10.

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.