Brighton Jones Expands Portfolio with Tyson Foods Shares

Brighton Jones LLC has acquired a new stake in Tyson Foods, Inc. (NYSE: TSN) during the second quarter of the fiscal year, as detailed in a recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 10,573 shares valued at approximately $591,000. This acquisition reflects a growing interest among institutional investors in Tyson Foods, as several firms have adjusted their stakes in the company.

Zions Bancorporation National Association added a new position in Tyson Foods worth $28,000 in the first quarter. Meanwhile, Matrix Trust Co significantly increased its stake by an astonishing 28,200%, now holding 566 shares valued at $32,000 after acquiring an additional 564 shares. Other notable investors include Beacon Capital Management LLC, which invested $37,000, and Armstrong Advisory Group Inc., which raised its stake by 130.6%, now owning 685 shares worth $38,000. ST Germain D J Co. Inc. also entered the market with a new position valued at $41,000. Currently, institutional investors and hedge funds own 67% of Tyson Foods stock.

Analysts on Wall Street are closely monitoring the performance of Tyson Foods, with various research reports released recently. Santander initiated coverage on the company with a “neutral” rating on September 25, while JPMorgan Chase & Co. set a price target of $60.00 and also issued a “neutral” rating. In a contrasting move, JP Morgan Cazenove lowered its price target from $61.00 to $60.00 but maintained a “neutral” stance on the stock. Zacks Research revised its rating from “hold” to “strong sell” on October 1, while Weiss Ratings reiterated a “hold (c)” rating on October 8. Overall, two investment analysts rate the stock as a Buy, fourteen as Hold, and one as Sell, leading to an average rating of “Hold” and a consensus target price of $60.92, according to MarketBeat.com.

Tyson Foods’ stock opened at $52.20 on Wednesday, with a market capitalization of $18.57 billion, a PE ratio of 23.73, and a price-to-earnings-growth ratio of 0.87. The company’s fifty-day moving average price stands at $54.41, while the two-hundred-day moving average price is $55.61. Tyson Foods has recorded a twelve-month low of $51.04 and a high of $65.95.

In its latest earnings report, released on August 4, 2023, Tyson Foods posted earnings per share (EPS) of $0.91 for the quarter, surpassing consensus estimates of $0.72 by $0.19. The company reported revenues of $13.88 billion, exceeding analyst expectations of $13.54 billion. This marked a 4.0% year-over-year increase in revenue. The firm’s return on equity was recorded at 7.49%, with a net margin of 1.45%. Tyson Foods has projected its EPS guidance for FY 2025, with analysts forecasting an average of $3.80 for the current fiscal year.

Additionally, Tyson Foods has declared a quarterly dividend of $0.50, scheduled for payment on December 15, 2023, to investors of record on December 1. This results in an annualized dividend of $2.00 and a yield of 3.8%. The ex-dividend date is also December 1. The company’s dividend payout ratio stands at 90.91%.

On August 7, 2023, the Tyson Foods board approved a stock repurchase plan allowing the company to repurchase up to 43 million outstanding shares. This strategy often indicates that the board believes the company’s stock is undervalued.

Tyson Foods, Inc., along with its subsidiaries, operates as a prominent food company globally. It functions through four segments: Beef, Pork, Chicken, and Prepared Foods, processing a variety of meat products and supplying poultry breeding stock.

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