Matrix Asset Advisors, an asset management company, released its fourth-quarter 2022 investor letter. A copy of the same can be downloaded here. In the fourth quarter, Matrix’s Large Cap Value Portfolio rebounded from the difficult 9 months period of the year and performed in line with the S&P 500 Index but lagged the Russell 1000 Value Index. For the full year, the LCV portfolio modestly lagged the S&P 500 Index and significantly lagged the Russell 1000 Value Index. The Matrix Dividend Income portfolio performed in line with the Russell 1000 Value index and well ahead of the S&P 500 in the quarter. In 2022 MDI portfolio navigated well in the bear market and performed well ahead of the S&P 500 Index and outperformed the Russell 1000 Value Index. In addition, you can check the top 5 holdings of the fund to know its best picks in 2022.
Matrix Asset Advisors highlighted stocks like Tyson Foods, Inc. (NYSE:TSN) in the Q4 2022 investor letter. Headquartered in Springdale, Arkansas, Tyson Foods, Inc. (NYSE:TSN) is a food company that operates through Beef, Pork, Chicken, and Prepared Foods segments. On March 29, 2023, Tyson Foods, Inc. (NYSE:TSN) stock closed at $58.25 per share. One-month return of Tyson Foods, Inc. (NYSE:TSN) was -1.37%, and its shares lost 35.01% of their value over the last 52 weeks. Tyson Foods, Inc. (NYSE:TSN) has a market capitalization of $20.858 billion.
Matrix Asset Advisors made the following comment about Tyson Foods, Inc. (NYSE:TSN) in its Q4 2022 investor letter:
“In the 4th quarter, we started a new position in Tyson Foods, Inc. (NYSE:TSN) and added to Morgan Stanley (MS).
Tyson Foods is one of the world’s largest chicken, beef, pork, and prepared foods companies. Major customers include grocery chains, wholesale clubs, food distributors, fast-food franchises, and military commissaries. Walmart is its largest customer, accounting for more than 18% of fiscal 2021 sales. Tyson’s share price topped out at over $100 in February of 2022. Since then, the shares dropped below $65 on falling earnings estimates for the upcoming year. Some of the reasons for the earnings are falling beef prices, rising commodity prices, foreign exchange, and higher investment spending. But the big picture is that the company has an outstanding long-term record of earnings and dividend growth, a strong balance sheet, and a valuation now at a multiyear low with a dividend yield of 3%. The company should benefit from the growing worldwide demand for protein. Exports generated just 10% of fiscal 2021 sales, providing a long runway for growth.”
Tyson Foods, Inc. (NYSE:TSN) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 31 hedge fund portfolios held Tyson Foods, Inc. (NYSE:TSN) at the end of the fourth quarter which was 35 in the previous quarter.
We discussed Tyson Foods, Inc. (NYSE:TSN) in another article and shared Aristotle Value Equity Strategy’s views on the company. In addition, please check out our hedge fund investor letters Q4 2022 page for more investor letters from hedge funds and other leading investors.
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Disclosure: None. This article is originally published at Insider Monkey.
