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Poplar Forest Capital Adjusts Stake in Tyson Foods Amid Market Changes

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Poplar Forest Capital LLC has reduced its holdings in Tyson Foods, Inc. (NYSE: TSN) by 0.4% during the first quarter of 2023. According to the firm’s recent filing with the Securities & Exchange Commission (SEC), Poplar Forest Capital now owns 403,572 shares after selling 1,800 shares during the quarter. Tyson Foods represents approximately 4.6% of the firm’s investment portfolio, making it the sixth largest holding. As of the latest disclosure, Poplar Forest Capital’s stake in Tyson Foods is valued at $25,752,000.

Several other institutional investors have also adjusted their positions in Tyson Foods recently. Envestnet Portfolio Solutions Inc. increased its stake by 14.6% in the fourth quarter, acquiring an additional 1,532 shares to reach a total of 12,061 shares, valued at $693,000. Similarly, Mizuho Securities USA LLC boosted its stake by 46.2% during the same period, bringing its total to 27,093 shares worth $1,556,000 after purchasing an additional 8,559 shares.

American Century Companies Inc. made a significant move by increasing its stake by 65.2%, now owning 126,789 shares valued at $7,283,000, after acquiring 50,055 shares. LPL Financial LLC also raised its stake by 2.1%, while the Vanguard Group Inc. increased its position by 0.9%, culminating in ownership of over 35.7 million shares, worth approximately $2.05 billion. Currently, institutional investors control about 67.00% of Tyson Foods’ stock.

Market Performance and Dividend Announcement

On Wednesday, Tyson Foods’ stock opened at $54.50. The company has demonstrated solid financial metrics, including a quick ratio of 0.69, a current ratio of 1.67, and a debt-to-equity ratio of 0.44. Tyson Foods boasts a market capitalization of $19.42 billion, a price-to-earnings ratio of 21.21, and a P/E/G ratio of 0.72. The stock has fluctuated between a twelve-month low of $52.71 and a twelve-month high of $66.88.

In a recent development, Tyson Foods declared a quarterly dividend of $0.50, set to be paid on September 12, 2023. Shareholders on record as of August 29, 2023, will receive this dividend, reflecting an annualized payout of $2.00 and a dividend yield of 3.67%. The company’s dividend payout ratio (DPR) stands at 77.82%.

Analyst Ratings and Market Outlook

Tyson Foods has recently attracted attention from several analysts. Citigroup raised its price target for the stock from $59.00 to $60.00, maintaining a “neutral” rating. The Goldman Sachs Group initiated coverage with a “buy” rating and a price target of $67.00. Conversely, Stephens lowered its price target from $63.00 to $61.00, rating it as “equal weight.”

Sanford C. Bernstein downgraded Tyson Foods from “outperform” to “market perform” with a target of $59.00, while JPMorgan Chase & Co. reduced its price target from $63.00 to $61.00, also issuing a “neutral” rating. According to data from MarketBeat.com, the consensus rating for Tyson Foods is currently “Hold,” with a target price averaging $62.70.

Tyson Foods, Inc. operates globally through its subsidiaries, dividing its operations into four segments: Beef, Pork, Chicken, and Prepared Foods. The company processes livestock and poultry into various meat products, catering to a diverse consumer base.

For investors interested in the latest updates regarding Tyson Foods and other hedge fund holdings, information can be accessed through various financial news outlets and market analysis platforms.

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