Mackenzie Financial Corp Acquires 62,875 Shares of Tyson Foods, Inc. (NYSE:TSN)

Mackenzie Financial Corp boosted its position in shares of Tyson Foods, Inc. (NYSE:TSN - Free Report) by 199.3% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 94,419 shares of the company's stock after purchasing an additional 62,875 shares during the quarter. Mackenzie Financial Corp's holdings in Tyson Foods were worth $5,395,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Bank of Nova Scotia lifted its stake in Tyson Foods by 106.6% during the 4th quarter. Bank of Nova Scotia now owns 163,632 shares of the company's stock valued at $8,795,000 after acquiring an additional 84,446 shares during the period. KBC Group NV lifted its stake in Tyson Foods by 128.6% during the 4th quarter. KBC Group NV now owns 365,994 shares of the company's stock valued at $19,672,000 after acquiring an additional 205,909 shares during the period. The Manufacturers Life Insurance Company lifted its stake in shares of Tyson Foods by 2.1% in the 4th quarter. The Manufacturers Life Insurance Company now owns 410,324 shares of the company's stock worth $22,055,000 after purchasing an additional 8,606 shares during the period. NEOS Investment Management LLC bought a new position in shares of Tyson Foods in the 4th quarter worth approximately $217,000. Finally, Capital Research Global Investors lifted its stake in shares of Tyson Foods by 153.2% in the 4th quarter. Capital Research Global Investors now owns 4,827,091 shares of the company's stock worth $259,456,000 after purchasing an additional 2,920,479 shares during the period. 67.00% of the stock is owned by hedge funds and other institutional investors.

Tyson Foods Price Performance

Shares of TSN stock traded down $0.55 on Wednesday, reaching $59.21. The company's stock had a trading volume of 1,753,132 shares, compared to its average volume of 2,525,313. The stock's fifty day simple moving average is $62.07 and its 200-day simple moving average is $59.61. Tyson Foods, Inc. has a 1 year low of $44.94 and a 1 year high of $66.88. The company has a current ratio of 1.82, a quick ratio of 0.95 and a debt-to-equity ratio of 0.53. The company has a market capitalization of $21.14 billion, a price-to-earnings ratio of -33.57, a price-to-earnings-growth ratio of 0.41 and a beta of 0.78.

Tyson Foods (NYSE:TSN - Get Free Report) last posted its earnings results on Monday, August 5th. The company reported $0.87 earnings per share for the quarter, beating analysts' consensus estimates of $0.65 by $0.22. Tyson Foods had a negative net margin of 0.01% and a positive return on equity of 4.97%. The firm had revenue of $13.35 billion during the quarter, compared to analyst estimates of $13.21 billion. During the same period last year, the firm posted $0.15 earnings per share. Tyson Foods's revenue for the quarter was up 1.6% compared to the same quarter last year. Analysts forecast that Tyson Foods, Inc. will post 2.82 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, December 13th. Shareholders of record on Friday, November 29th will be paid a dividend of $0.49 per share. This represents a $1.96 annualized dividend and a yield of 3.31%. The ex-dividend date is Friday, November 29th. Tyson Foods's payout ratio is -110.11%.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. Barclays raised their target price on shares of Tyson Foods from $72.00 to $76.00 and gave the stock an "overweight" rating in a research note on Monday, September 9th. StockNews.com upgraded shares of Tyson Foods from a "hold" rating to a "buy" rating in a research note on Tuesday, August 6th. Bank of America decreased their target price on shares of Tyson Foods from $62.00 to $60.00 and set a "neutral" rating on the stock in a research note on Wednesday, July 10th. BMO Capital Markets raised their target price on shares of Tyson Foods from $58.00 to $60.00 and gave the stock a "market perform" rating in a research note on Tuesday, August 6th. Finally, JPMorgan Chase & Co. increased their price objective 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. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat, Tyson Foods currently has a consensus rating of "Hold" and an average price target of $60.67.

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.