State of Michigan Retirement System Sells 2,900 Shares of Tyson Foods, Inc. (NYSE:TSN)

State of Michigan Retirement System lowered its position in Tyson Foods, Inc. (NYSE:TSN) by 3.0% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 93,828 shares of the company’s stock after selling 2,900 shares during the quarter. State of Michigan Retirement System’s holdings in Tyson Foods were worth $5,361,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Retirement Systems of Alabama boosted its holdings in shares of Tyson Foods by 0.5% during the 1st quarter. Retirement Systems of Alabama now owns 63,199 shares of the company’s stock valued at $3,712,000 after purchasing an additional 337 shares during the last quarter. Pzena Investment Management LLC boosted its holdings in shares of Tyson Foods by 8.2% during the 4th quarter. Pzena Investment Management LLC now owns 5,887,724 shares of the company’s stock valued at $316,465,000 after purchasing an additional 446,904 shares during the last quarter. Oppenheimer & Co. Inc. boosted its holdings in shares of Tyson Foods by 100.7% during the 1st quarter. Oppenheimer & Co. Inc. now owns 10,315 shares of the company’s stock valued at $606,000 after purchasing an additional 5,175 shares during the last quarter. Cetera Advisors LLC boosted its holdings in shares of Tyson Foods by 149.2% during the 1st quarter. Cetera Advisors LLC now owns 19,083 shares of the company’s stock valued at $1,121,000 after purchasing an additional 11,425 shares during the last quarter. Finally, Eisler Capital UK Ltd. bought a new position in shares of Tyson Foods during the 4th quarter valued at about $1,399,000. Institutional investors own 67.00% of the company’s stock.

Analyst Upgrades and Downgrades

TSN has been the subject of several research reports. Bank of America dropped their price objective on shares of Tyson Foods from $62.00 to $60.00 and set a “neutral” rating for the company in a report on Wednesday, July 10th. BMO Capital Markets increased their price target on shares of Tyson Foods from $58.00 to $60.00 and gave the company a “market perform” rating in a report on Tuesday, August 6th. StockNews.com raised shares of Tyson Foods from a “hold” rating to a “buy” rating in a report on Tuesday, August 6th. Piper Sandler increased their price target on shares of Tyson Foods from $55.00 to $57.00 and gave the company a “neutral” rating in a report on Tuesday, May 7th. Finally, JPMorgan Chase & Co. increased their price target on shares of Tyson Foods from $61.00 to $63.00 and gave the company a “neutral” rating in a report on Tuesday, August 6th. One research analyst has rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, Tyson Foods presently has a consensus rating of “Hold” and a consensus price target of $61.00.

Tyson Foods Stock Performance

Tyson Foods stock opened at $64.02 on Tuesday. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.82 and a quick ratio of 0.95. Tyson Foods, Inc. has a 1-year low of $44.94 and a 1-year high of $64.32. The firm has a market capitalization of $22.86 billion, a P/E ratio of -36.02, a price-to-earnings-growth ratio of 0.44 and a beta of 0.74. The company’s 50-day moving average is $59.44 and its 200 day moving average is $58.03.

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

Tyson Foods Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be given a dividend of $0.49 per share. This represents a $1.96 dividend on an annualized basis and a dividend yield of 3.06%. The ex-dividend date of this dividend is Friday, November 29th. Tyson Foods’s dividend payout ratio (DPR) is presently -110.11%.

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.