Bank of Nova Scotia Acquires 164,325 Shares of Tyson Foods, Inc. (NYSE:TSN)

Bank of Nova Scotia boosted its stake in shares of Tyson Foods, Inc. (NYSE:TSN - Free Report) by 449.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 200,909 shares of the company's stock after purchasing an additional 164,325 shares during the period. Bank of Nova Scotia owned approximately 0.06% of Tyson Foods worth $11,540,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. Riverview Trust Co increased its position in Tyson Foods by 3,423.1% in the 4th quarter. Riverview Trust Co now owns 458 shares of the company's stock valued at $26,000 after acquiring an additional 445 shares during the period. Brooklyn Investment Group grew its position in Tyson Foods by 2,478.3% in the 4th quarter. Brooklyn Investment Group now owns 593 shares of the company's stock worth $34,000 after purchasing an additional 570 shares in the last quarter. SRS Capital Advisors Inc. raised its holdings in shares of Tyson Foods by 58.6% in the 4th quarter. SRS Capital Advisors Inc. now owns 620 shares of the company's stock valued at $36,000 after acquiring an additional 229 shares in the last quarter. TCTC Holdings LLC boosted its holdings in shares of Tyson Foods by 140.7% during the 4th quarter. TCTC Holdings LLC now owns 662 shares of the company's stock valued at $38,000 after buying an additional 387 shares in the last quarter. Finally, ST Germain D J Co. Inc. bought a new stake in Tyson Foods during the 4th quarter valued at approximately $42,000. Hedge funds and other institutional investors own 67.00% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. UBS Group initiated coverage on Tyson Foods in a research note on Friday, January 10th. They set a "neutral" rating and a $62.00 target price for the company. HSBC raised Tyson Foods from a "reduce" rating to a "hold" rating in a report on Monday, February 3rd. Stephens upped their price target on shares of Tyson Foods from $60.00 to $63.00 and gave the stock an "equal weight" rating in a report on Tuesday, February 4th. Piper Sandler upgraded shares of Tyson Foods from an "underweight" rating to a "neutral" rating and set a $58.00 target price for the company in a research note on Tuesday, February 4th. Finally, Citigroup boosted their price objective on Tyson Foods from $59.00 to $60.00 and gave the company a "neutral" rating in a research report on Tuesday. Ten analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $61.00.

Tyson Foods Stock Performance

Shares of Tyson Foods stock traded up $0.22 during mid-day trading on Wednesday, hitting $61.21. 245,606 shares of the stock were exchanged, compared to its average volume of 2,311,959. 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 company has a market capitalization of $21.80 billion, a P/E ratio of 20.68, a P/E/G ratio of 0.74 and a beta of 0.62. The company has a 50-day simple moving average of $60.22 and a 200 day simple moving average of $59.60. Tyson Foods, Inc. has a 12 month low of $53.61 and a 12 month high of $66.88.

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

Tyson Foods Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Friday, May 30th will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 3.27%. The ex-dividend date is Friday, May 30th. Tyson Foods's payout ratio is currently 67.57%.

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.