Apollon Wealth Management Expands Stake in Tyson Foods, Inc.

Apollon Wealth Management LLC has acquired a new stake in Tyson Foods, Inc. (NYSE:TSN), purchasing approximately 10,397 shares valued at around $565,000. This acquisition occurred during the third quarter of 2023 and was disclosed in the company’s recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also adjusted their positions in Tyson Foods. 180 Wealth Advisors LLC purchased shares worth about $210,000, while Blue Trust Inc. increased its holdings by 39.0%, now owning 2,564 shares valued at $139,000. Additionally, CWM LLC significantly expanded its stake by 95.8%, acquiring an additional 64,368 shares, bringing its total to 131,525 shares valued at $7.14 million. Inspire Investing LLC and Iams Wealth Management LLC also made new investments during this period, showcasing growing interest from institutional investors in the company.

As of the last trading session, shares of Tyson Foods opened at $58.02, reflecting a decrease of 1.0%. The company’s stock has seen a yearly fluctuation, with a low of $50.56 and a high of $64.36. With a market capitalization of $20.48 billion, Tyson Foods holds a P/E ratio of 43.62 and a P/E/G ratio of 1.35. The company has also demonstrated a solid financial position, with a debt-to-equity ratio of 0.43 and a current ratio of 1.55.

Tyson Foods reported its earnings results on November 10, 2023, revealing earnings per share (EPS) of $1.15, surpassing the consensus estimate of $0.85 by $0.30. The company recorded a revenue of $13.86 billion for the quarter, which was slightly below analysts’ expectations of $14.08 billion but marked a 2.2% increase compared to the same quarter last year.

In a positive development for shareholders, Tyson Foods announced an increase in its quarterly dividend, which will be distributed on March 13, 2024. Investors on record as of February 27, 2024 will receive a $0.51 dividend, up from the previous $0.50. This change reflects an annualized dividend of $2.04, equating to a yield of 3.5%. The company’s payout ratio currently stands at a high 153.38%.

In terms of insider transactions, CFO Curt Calaway sold 6,539 shares at an average price of $57.19, totaling approximately $373,965.41. Following this sale, he retains 31,833 shares valued at about $1.82 million, reflecting a 17.04% reduction in his holdings. Additionally, Chairman John H. Tyson sold 100,301 shares at an average price of $58.05, amounting to about $5.82 million. After this transaction, he holds 2,989,415 shares valued at approximately $173.54 million, representing a 3.25% decrease in his position.

Market analysts have varied opinions on Tyson Foods. Recently, Piper Sandler raised their target price from $58.00 to $61.00, maintaining a “neutral” rating. In contrast, Bank of America reduced its price objective from $59.00 to $58.00 while also suggesting a “neutral” rating. Meanwhile, Zacks Research upgraded its rating from “strong sell” to “hold.” Overall, the consensus maintains a “Hold” rating with an average target price of $61.00.

Tyson Foods, headquartered in Springdale, Arkansas, is a leading global food company specializing in the production and marketing of protein-based products. Established in 1935, the company is one of the largest processors of chicken, beef, and pork, serving a diverse range of customers across retail, foodservice, and industrial sectors. Its extensive product portfolio includes fresh and frozen meats, as well as a variety of prepared foods and value-added items.