QRG Capital Management Inc. Sells 5,166 Shares of Tyson Foods, Inc. (NYSE:TSN)

QRG Capital Management Inc. reduced its holdings in Tyson Foods, Inc. (NYSE:TSN) by 5.6% in the 3rd quarter, Holdings Channel reports. The fund owned 87,696 shares of the company’s stock after selling 5,166 shares during the quarter. QRG Capital Management Inc.’s holdings in Tyson Foods were worth $5,223,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the business. Davis Selected Advisers acquired a new stake in Tyson Foods during the 2nd quarter worth approximately $177,439,000. Pzena Investment Management LLC lifted its position in Tyson Foods by 18.4% in the 2nd quarter. Pzena Investment Management LLC now owns 12,489,564 shares of the company’s stock valued at $713,654,000 after acquiring an additional 1,939,508 shares in the last quarter. Jupiter Asset Management Ltd. acquired a new position in Tyson Foods in the 2nd quarter worth $29,537,000. Van ECK Associates Corp increased its holdings in Tyson Foods by 45.5% during the 2nd quarter. Van ECK Associates Corp now owns 1,274,741 shares of the company’s stock worth $72,839,000 after purchasing an additional 398,404 shares in the last quarter. Finally, National Bank of Canada FI raised its stake in shares of Tyson Foods by 138.7% in the 1st quarter. National Bank of Canada FI now owns 579,079 shares of the company’s stock valued at $34,542,000 after purchasing an additional 336,487 shares during the period. Institutional investors and hedge funds own 67.00% of the company’s stock.

Analyst Upgrades and Downgrades

TSN has been the subject of several recent research reports. Barclays upped their price objective on Tyson Foods from $72.00 to $76.00 and gave the stock an “overweight” rating in a research report on Monday, September 9th. JPMorgan Chase & Co. upped their price target on Tyson Foods from $61.00 to $63.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 6th. Citigroup decreased their price target on shares of Tyson Foods from $63.00 to $60.00 and set a “neutral” rating for the company in a research note on Wednesday, October 9th. Piper Sandler cut shares of Tyson Foods from a “neutral” rating to an “underweight” rating and reduced their target price for the stock from $57.00 to $50.00 in a report on Wednesday, September 25th. Finally, Stephens initiated coverage on shares of Tyson Foods in a research report on Thursday, October 3rd. They issued an “equal weight” rating and a $57.00 target price for the company. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $59.22.

Tyson Foods Stock Performance

Shares of TSN opened at $59.26 on Wednesday. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.82 and a quick ratio of 0.95. The firm has a 50-day moving average of $60.64 and a 200-day moving average of $59.71. The company has a market cap of $21.09 billion, a PE ratio of -987.67, a price-to-earnings-growth ratio of 0.37 and a beta of 0.78. Tyson Foods, Inc. has a one year low of $45.13 and a one year high of $66.88.

Tyson Foods (NYSE:TSN) last announced its quarterly earnings results on Monday, August 5th. The company reported $0.87 earnings per share for the quarter, topping analysts’ consensus estimates of $0.65 by $0.22. Tyson Foods had a positive return on equity of 4.97% and a negative net margin of 0.01%. The firm had revenue of $13.35 billion for the quarter, compared to the consensus estimate of $13.21 billion. During the same quarter in the previous year, the business earned $0.15 earnings per share. The business’s revenue was up 1.6% compared to the same quarter last year. As a group, equities analysts forecast that Tyson Foods, Inc. will post 2.82 earnings per share for the current year.

Tyson Foods Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be issued a dividend of $0.49 per share. This represents a $1.96 annualized dividend and a yield of 3.31%. The ex-dividend date is Friday, November 29th. Tyson Foods’s dividend payout ratio is -3,266.67%.

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.