KLP Kapitalforvaltning AS Makes New Investment in Tyson Foods, Inc. (NYSE:TSN)

KLP Kapitalforvaltning AS acquired a new position in Tyson Foods, Inc. (NYSE:TSN - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 282,731 shares of the company's stock, valued at approximately $16,240,000. KLP Kapitalforvaltning AS owned approximately 0.08% of Tyson Foods as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of TSN. JPMorgan Chase & Co. raised its stake in Tyson Foods by 44.8% in the third quarter. JPMorgan Chase & Co. now owns 1,140,309 shares of the company's stock valued at $67,917,000 after buying an additional 352,863 shares during the last quarter. Handelsbanken Fonder AB lifted its holdings in shares of Tyson Foods by 17.2% during the fourth quarter. Handelsbanken Fonder AB now owns 4,975 shares of the company's stock worth $286,000 after purchasing an additional 729 shares during the period. Sound Income Strategies LLC increased its holdings in Tyson Foods by 14.0% in the 4th quarter. Sound Income Strategies LLC now owns 56,537 shares of the company's stock worth $3,248,000 after buying an additional 6,955 shares during the period. Empowered Funds LLC raised its position in Tyson Foods by 289.9% during the 4th quarter. Empowered Funds LLC now owns 24,288 shares of the company's stock worth $1,395,000 after buying an additional 18,059 shares during the last quarter. Finally, Everence Capital Management Inc. acquired a new stake in Tyson Foods during the 4th quarter valued at approximately $775,000. Institutional investors own 67.00% of the company's stock.

Tyson Foods Stock Up 1.1 %

TSN stock traded up $0.69 during mid-day trading on Thursday, reaching $62.28. The company had a trading volume of 757,545 shares, compared to its average volume of 2,145,740. Tyson Foods, Inc. has a fifty-two week low of $53.61 and a fifty-two week high of $66.88. The company has a market capitalization of $22.18 billion, a price-to-earnings ratio of 21.02, a price-to-earnings-growth ratio of 0.74 and a beta of 0.72. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.04 and a current ratio of 2.11. The firm has a fifty day simple moving average of $58.85 and a 200 day simple moving average of $59.63.

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Tyson Foods (NYSE:TSN - Get Free Report) last announced its quarterly earnings data on Monday, February 3rd. The company reported $1.14 earnings per share for the quarter, beating analysts' consensus estimates of $0.79 by $0.35. The business had revenue of $13.62 billion for the quarter, compared to analyst estimates of $13.46 billion. Tyson Foods had a net margin of 1.96% and a return on equity of 6.87%. The company's revenue was up 2.3% on a year-over-year basis. During the same period last year, the business earned $0.69 EPS. Analysts forecast that Tyson Foods, Inc. will post 3.8 earnings per share for the current fiscal year.

Tyson Foods Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Friday, May 30th will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 3.21%. The ex-dividend date of this dividend is Friday, May 30th. Tyson Foods's payout ratio is currently 67.57%.

Analyst Ratings Changes

Several analysts have commented on TSN shares. Hsbc Global Res raised Tyson Foods from a "moderate sell" rating to a "hold" rating in a report on Monday, February 3rd. HSBC raised shares of Tyson Foods from a "reduce" rating to a "hold" rating in a report on Monday, February 3rd. UBS Group initiated coverage on Tyson Foods in a research note on Friday, January 10th. They issued a "neutral" rating and a $62.00 price target on the stock. Citigroup dropped their price target on Tyson Foods from $63.00 to $61.00 and set a "neutral" rating for the company in a research report on Friday, January 31st. Finally, Piper Sandler upgraded shares of Tyson Foods from an "underweight" rating to a "neutral" rating and set a $58.00 price target for the company in a report on Tuesday, February 4th. Ten equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, Tyson Foods currently has an average rating of "Hold" and an average target price of $61.10.

Tyson Foods Company 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.