Hodges Capital Management Inc. Invests $7.47 Million in Tyson Foods, Inc. (NYSE:TSN)

Hodges Capital Management Inc. acquired a new stake in shares of Tyson Foods, Inc. (NYSE:TSN) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 127,105 shares of the company’s stock, valued at approximately $7,465,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. First Financial Corp IN acquired a new stake in shares of Tyson Foods during the 1st quarter valued at $35,000. Massmutual Trust Co. FSB ADV boosted its position in Tyson Foods by 47.4% during the fourth quarter. Massmutual Trust Co. FSB ADV now owns 647 shares of the company’s stock valued at $35,000 after purchasing an additional 208 shares during the last quarter. Stone House Investment Management LLC purchased a new position in Tyson Foods in the fourth quarter valued at about $40,000. Headinvest LLC purchased a new position in Tyson Foods in the third quarter valued at about $43,000. Finally, Mather Group LLC. acquired a new position in Tyson Foods in the 1st quarter worth about $49,000. 67.00% of the stock is owned by hedge funds and other institutional investors.

Tyson Foods Stock Performance

Shares of Tyson Foods stock traded up $0.70 during trading on Friday, reaching $57.14. The company’s stock had a trading volume of 3,135,654 shares, compared to its average volume of 2,319,465. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.87 and a current ratio of 1.77. The business’s fifty day moving average price is $58.37 and its 200-day moving average price is $56.18. The firm has a market cap of $20.40 billion, a price-to-earnings ratio of -32.10, a price-to-earnings-growth ratio of 0.41 and a beta of 0.75. Tyson Foods, Inc. has a one year low of $44.94 and a one year high of $62.04.

Tyson Foods (NYSE:TSN) last announced its quarterly earnings data on Monday, May 6th. The company reported $0.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.39 by $0.23. Tyson Foods had a negative net margin of 1.16% and a positive return on equity of 3.53%. The business had revenue of $13.07 billion for the quarter, compared to the consensus estimate of $13.16 billion. During the same quarter last year, the company posted ($0.04) earnings per share. Tyson Foods’s quarterly revenue was down .5% on a year-over-year basis. As a group, equities research analysts predict that Tyson Foods, Inc. will post 2.58 earnings per share for the current year.

Tyson Foods Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 13th. Investors of record on Friday, August 30th will be paid a $0.49 dividend. This represents a $1.96 annualized dividend and a dividend yield of 3.43%. The ex-dividend date is Friday, August 30th. Tyson Foods’s payout ratio is presently -110.11%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on TSN. HSBC lifted their price target on Tyson Foods from $48.00 to $51.00 and gave the company a “reduce” rating in a report on Tuesday, May 7th. The Goldman Sachs Group boosted their target price on shares of Tyson Foods from $49.00 to $54.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 17th. BMO Capital Markets raised their price target on shares of Tyson Foods from $55.00 to $58.00 and gave the company a “market perform” rating in a report on Tuesday, May 7th. Barclays upgraded shares of Tyson Foods from an “underweight” rating to an “overweight” rating and upped their price objective for the stock from $53.00 to $69.00 in a report on Tuesday, April 16th. Finally, Piper Sandler raised their target price on Tyson Foods from $55.00 to $57.00 and gave the company a “neutral” rating in a report on Tuesday, May 7th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $60.22.

About Tyson Foods

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.