Westpac Banking Corp decreased its stake in Tyson Foods, Inc. (NYSE:TSN) by 3.1% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 55,805 shares of the company’s stock after selling 1,800 shares during the period. Westpac Banking Corp’s holdings in Tyson Foods were worth $4,506,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Geode Capital Management LLC increased its position in shares of Tyson Foods by 6.6% in the fourth quarter. Geode Capital Management LLC now owns 4,527,942 shares of the company’s stock valued at $241,434,000 after buying an additional 278,988 shares in the last quarter. Retirement Systems of Alabama boosted its stake in shares of Tyson Foods by 0.7% during the first quarter. Retirement Systems of Alabama now owns 137,486 shares of the company’s stock valued at $9,546,000 after acquiring an additional 1,022 shares during the last quarter. Raymond James Trust N.A. acquired a new stake in shares of Tyson Foods during the first quarter valued at $237,000. Nisa Investment Advisors LLC boosted its stake in shares of Tyson Foods by 21.1% during the first quarter. Nisa Investment Advisors LLC now owns 132,801 shares of the company’s stock valued at $9,220,000 after acquiring an additional 23,100 shares during the last quarter. Finally, IFM Investors Pty Ltd boosted its stake in shares of Tyson Foods by 10.3% during the first quarter. IFM Investors Pty Ltd now owns 18,698 shares of the company’s stock valued at $1,298,000 after acquiring an additional 1,753 shares during the last quarter. Institutional investors own 69.03% of the company’s stock.
A number of research firms recently commented on TSN. Piper Jaffray Companies increased their price objective on Tyson Foods from $72.00 to $84.00 and gave the company a “positive” rating in a research note on Monday, May 6th. Zacks Investment Research raised Tyson Foods from a “hold” rating to a “buy” rating and set a $91.00 price objective on the stock in a research note on Thursday, August 8th. Credit Suisse Group increased their price objective on Tyson Foods from $96.00 to $98.00 and gave the company an “outperform” rating in a research note on Tuesday, August 6th. Standpoint Research lowered Tyson Foods from a “buy” rating to a “hold” rating in a research note on Monday, April 29th. Finally, ValuEngine lowered Tyson Foods from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. Tyson Foods currently has a consensus rating of “Buy” and a consensus target price of $82.86.
Tyson Foods (NYSE:TSN) last issued its quarterly earnings results on Monday, August 5th. The company reported $1.47 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.47. Tyson Foods had a return on equity of 15.92% and a net margin of 5.27%. The firm had revenue of $10.89 billion for the quarter, compared to analyst estimates of $10.95 billion. During the same period last year, the company earned $1.50 EPS. The firm’s quarterly revenue was up 8.3% on a year-over-year basis. As a group, research analysts forecast that Tyson Foods, Inc. will post 5.89 earnings per share for the current fiscal year.
In other news, EVP Mary Oleksiuk sold 43,592 shares of the firm’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $82.60, for a total value of $3,600,699.20. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Sally Grimes sold 57,774 shares of the firm’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $85.00, for a total value of $4,910,790.00. The disclosure for this sale can be found here. Company insiders own 1.69% of the company’s stock.
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 live market 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; and raises and processes chickens into fresh, frozen, and value-added chicken products.
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