Renaissance Technologies LLC Trims Stake in Tyson Foods, Inc. (NYSE:TSN)

Renaissance Technologies LLC reduced its position in shares of Tyson Foods, Inc. (NYSE:TSN) by 13.0% during the 4th quarter, HoldingsChannel reports. The fund owned 993,714 shares of the company’s stock after selling 148,186 shares during the period. Renaissance Technologies LLC’s holdings in Tyson Foods were worth $57,079,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Vanguard Group Inc. increased its position in shares of Tyson Foods by 0.9% during the fourth quarter. Vanguard Group Inc. now owns 35,714,357 shares of the company’s stock worth $2,051,433,000 after purchasing an additional 325,361 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Tyson Foods by 2.6% in the fourth quarter. Geode Capital Management LLC now owns 6,994,356 shares of the company’s stock valued at $400,712,000 after purchasing an additional 178,785 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Tyson Foods by 14.8% in the fourth quarter. Bank of New York Mellon Corp now owns 3,315,701 shares of the company’s stock valued at $190,454,000 after purchasing an additional 427,582 shares during the last quarter. Norges Bank acquired a new stake in Tyson Foods during the fourth quarter worth $175,086,000. Finally, Charles Schwab Investment Management Inc. increased its stake in Tyson Foods by 4.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,456,740 shares of the company’s stock worth $141,115,000 after acquiring an additional 98,799 shares during the last quarter. 67.00% of the stock is currently owned by hedge funds and other institutional investors.

Tyson Foods Stock Performance

Shares of NYSE:TSN opened at $59.80 on Thursday. The business has a 50-day moving average of $59.94 and a two-hundred day moving average of $59.56. The firm has a market capitalization of $21.30 billion, a PE ratio of 20.20, a P/E/G ratio of 0.74 and a beta of 0.62. Tyson Foods, Inc. has a 12 month low of $53.61 and a 12 month high of $66.88. 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 released its quarterly earnings results on Monday, February 3rd. The company reported $1.14 EPS for the quarter, topping the consensus estimate of $0.79 by $0.35. Tyson Foods had a return on equity of 6.87% and a net margin of 1.96%. The business had revenue of $13.62 billion for the quarter, compared to analysts’ expectations of $13.46 billion. During the same quarter in the previous year, the firm posted $0.69 earnings per share. The company’s revenue was up 2.3% compared to the same quarter last year. As a group, research analysts forecast that Tyson Foods, Inc. will post 3.8 earnings per share for the current year.

Tyson Foods Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Friday, May 30th will be paid a dividend of $0.50 per share. The ex-dividend date is Friday, May 30th. This represents a $2.00 annualized dividend and a yield of 3.34%. Tyson Foods’s dividend payout ratio is currently 67.57%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. Stephens raised their target price on Tyson Foods from $60.00 to $63.00 and gave the stock an “equal weight” rating in a research note on Tuesday, February 4th. Citigroup cut their price objective on shares of Tyson Foods from $63.00 to $61.00 and set a “neutral” rating on the stock in a report on Friday, January 31st. Piper Sandler upgraded shares of Tyson Foods from an “underweight” rating to a “neutral” rating and set a $58.00 price target for the company in a research report on Tuesday, February 4th. UBS Group initiated coverage on Tyson Foods in a research note on Friday, January 10th. They issued a “neutral” rating and a $62.00 target price on the stock. Finally, Hsbc Global Res upgraded shares of Tyson Foods from a “moderate sell” rating to a “hold” rating in a research report on Monday, February 3rd. Ten research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $61.10.

Tyson Foods Company 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.