Connor Clark & Lunn Investment Management Ltd. Reduces Holdings in Tyson Foods, Inc. (NYSE:TSN)

Connor Clark & Lunn Investment Management Ltd. lowered its position in shares of Tyson Foods, Inc. (NYSE:TSN) by 24.1% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 320,984 shares of the company’s stock after selling 101,765 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.09% of Tyson Foods worth $18,437,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in TSN. Principal Financial Group Inc. raised its stake in shares of Tyson Foods by 3.7% during the third quarter. Principal Financial Group Inc. now owns 368,743 shares of the company’s stock valued at $21,962,000 after purchasing an additional 13,066 shares during the period. Atria Investments Inc increased its stake in shares of Tyson Foods by 37.8% in the third quarter. Atria Investments Inc now owns 13,789 shares of the company’s stock worth $821,000 after buying an additional 3,782 shares during the last quarter. Crossmark Global Holdings Inc. increased its stake in shares of Tyson Foods by 0.9% in the third quarter. Crossmark Global Holdings Inc. now owns 19,482 shares of the company’s stock worth $1,160,000 after buying an additional 172 shares during the last quarter. Venturi Wealth Management LLC increased its stake in shares of Tyson Foods by 426.0% in the third quarter. Venturi Wealth Management LLC now owns 1,757 shares of the company’s stock worth $105,000 after buying an additional 1,423 shares during the last quarter. Finally, GSA Capital Partners LLP bought a new stake in shares of Tyson Foods in the third quarter worth $339,000. Hedge funds and other institutional investors own 67.00% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on the stock. Stephens lifted their price target on shares of Tyson Foods from $60.00 to $63.00 and gave the stock an “equal weight” rating in a research note on Tuesday, February 4th. 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 research note on Tuesday, February 4th. HSBC upgraded shares of Tyson Foods from a “reduce” rating to a “hold” rating in a research note on Monday, February 3rd. Barclays decreased their price objective on shares of Tyson Foods from $76.00 to $75.00 and set an “overweight” rating for the company in a report on Tuesday, January 21st. Finally, UBS Group assumed coverage on shares of Tyson Foods in a report on Friday, January 10th. They issued a “neutral” rating and a $62.00 price objective for the company. Ten investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, Tyson Foods has a consensus rating of “Hold” and an average price target of $61.10.

Tyson Foods Stock Performance

Shares of TSN opened at $59.96 on Friday. Tyson Foods, Inc. has a 1 year low of $53.61 and a 1 year high of $66.88. The company has a market cap of $21.36 billion, a price-to-earnings ratio of 20.26, 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 moving average of $58.01 and a 200-day moving average of $59.94.

Tyson Foods (NYSE:TSN) last announced its quarterly earnings results 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. Tyson Foods had a net margin of 1.96% and a return on equity of 6.87%. The company had revenue of $13.62 billion during the quarter, compared to the consensus estimate of $13.46 billion. During the same quarter in the previous year, the company posted $0.69 earnings per share. The company’s revenue for the quarter was up 2.3% compared to the same quarter last year. As a group, equities analysts anticipate that Tyson Foods, Inc. will post 3.8 earnings per share for the current year.

Tyson Foods Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Friday, May 30th will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 3.34%. The ex-dividend date of this dividend is Friday, May 30th. Tyson Foods’s payout ratio is currently 67.57%.

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.