Mirae Asset Global Investments Co. Ltd. Buys 4,510 Shares of Tyson Foods, Inc. (NYSE:TSN)

Mirae Asset Global Investments Co. Ltd. grew its stake in Tyson Foods, Inc. (NYSE:TSN) by 16.5% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 31,780 shares of the company’s stock after purchasing an additional 4,510 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Tyson Foods were worth $1,982,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Money Concepts Capital Corp raised its holdings in shares of Tyson Foods by 16.0% in the first quarter. Money Concepts Capital Corp now owns 18,658 shares of the company’s stock worth $1,191,000 after buying an additional 2,574 shares during the period. Achmea Investment Management B.V. raised its holdings in shares of Tyson Foods by 24.2% in the first quarter. Achmea Investment Management B.V. now owns 76,332 shares of the company’s stock worth $4,871,000 after buying an additional 14,857 shares during the period. Philip James Wealth Mangement LLC purchased a new stake in shares of Tyson Foods in the first quarter worth approximately $215,000. Artemis Investment Management LLP purchased a new stake in shares of Tyson Foods in the first quarter worth approximately $5,096,000. Finally, Illinois Municipal Retirement Fund raised its holdings in shares of Tyson Foods by 6.6% in the first quarter. Illinois Municipal Retirement Fund now owns 208,376 shares of the company’s stock worth $13,296,000 after buying an additional 12,858 shares during the period. 67.00% of the stock is currently owned by hedge funds and other institutional investors.

Tyson Foods Trading Down 0.9%

Shares of NYSE:TSN opened at $56.93 on Friday. Tyson Foods, Inc. has a 12-month low of $54.01 and a 12-month high of $66.88. The business’s fifty day simple moving average is $56.21 and its 200-day simple moving average is $58.02. The company has a market capitalization of $20.28 billion, a PE ratio of 22.15, a P/E/G ratio of 0.75 and a beta of 0.59. The company has a current ratio of 1.67, a quick ratio of 0.69 and a debt-to-equity ratio of 0.44.

Tyson Foods (NYSE:TSN) last announced its quarterly earnings results on Monday, May 5th. The company reported $0.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.85 by $0.07. Tyson Foods had a return on equity of 7.43% and a net margin of 1.70%. The business had revenue of $13.07 billion for the quarter, compared to the consensus estimate of $13.15 billion. During the same period last year, the business posted $0.62 EPS. The business’s revenue was up .0% compared to the same quarter last year. As a group, equities research analysts predict that Tyson Foods, Inc. will post 3.8 earnings per share for the current fiscal year.

Tyson Foods Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 12th. Stockholders of record on Friday, August 29th will be given a $0.50 dividend. The ex-dividend date is Friday, August 29th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.51%. Tyson Foods’s payout ratio is 77.82%.

Analyst Ratings Changes

TSN has been the topic of several recent analyst reports. The Goldman Sachs Group initiated coverage on Tyson Foods in a report on Monday, June 23rd. They issued a “buy” rating and a $67.00 price target on the stock. Stephens reduced their price objective on Tyson Foods from $63.00 to $61.00 and set an “equal weight” rating on the stock in a report on Tuesday, May 6th. JPMorgan Chase & Co. reduced their price objective on Tyson Foods from $63.00 to $61.00 and set a “neutral” rating on the stock in a report on Tuesday, May 6th. Citigroup raised their price objective on Tyson Foods from $59.00 to $60.00 and gave the stock a “neutral” rating in a report on Tuesday, April 15th. Finally, Wall Street Zen downgraded Tyson Foods from a “buy” rating to a “hold” rating in a report on Tuesday, May 6th. Ten analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $63.11.

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.