CIBC Asset Management Inc raised its holdings in Tyson Foods, Inc. (NYSE:TSN – Free Report) by 7.9% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 41,661 shares of the company’s stock after buying an additional 3,043 shares during the quarter. CIBC Asset Management Inc’s holdings in Tyson Foods were worth $2,481,000 at the end of the most recent quarter.
Several other hedge funds have also recently made changes to their positions in the business. Catalyst Capital Advisors LLC boosted its holdings in Tyson Foods by 56.1% in the third quarter. Catalyst Capital Advisors LLC now owns 584 shares of the company’s stock valued at $35,000 after acquiring an additional 210 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. boosted its stake in shares of Tyson Foods by 301.6% during the 3rd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 747 shares of the company’s stock valued at $44,000 after purchasing an additional 561 shares in the last quarter. Hantz Financial Services Inc. purchased a new position in shares of Tyson Foods during the second quarter valued at about $54,000. Northwest Investment Counselors LLC bought a new position in Tyson Foods in the third quarter worth about $59,000. Finally, SYSTM Wealth Solutions LLC lifted its holdings in Tyson Foods by 1,566.2% in the second quarter. SYSTM Wealth Solutions LLC now owns 1,083 shares of the company’s stock worth $62,000 after buying an additional 1,018 shares during the period. 67.00% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
Several research analysts have recently issued reports on TSN shares. JPMorgan Chase & Co. increased their target price on Tyson Foods from $61.00 to $63.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 6th. StockNews.com raised Tyson Foods from a “hold” rating to a “buy” rating in a research report on Tuesday, August 6th. Barclays upped their target price on shares of Tyson Foods from $72.00 to $76.00 and gave the stock an “overweight” rating in a research report on Monday, September 9th. BMO Capital Markets increased their price target on shares of Tyson Foods from $60.00 to $62.00 and gave the stock a “market perform” rating in a research note on Wednesday, November 13th. Finally, Stephens boosted their price objective on shares of Tyson Foods from $57.00 to $60.00 and gave the stock an “equal weight” rating in a research note on Wednesday, November 13th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $60.67.
Tyson Foods Price Performance
Shares of TSN opened at $62.92 on Wednesday. Tyson Foods, Inc. has a twelve month low of $46.51 and a twelve month high of $66.88. The company has a market capitalization of $22.39 billion, a P/E ratio of 27.96, a price-to-earnings-growth ratio of 0.97 and a beta of 0.78. The firm has a 50 day moving average of $60.01 and a 200 day moving average of $59.77. The company has a quick ratio of 0.95, a current ratio of 2.04 and a debt-to-equity ratio of 0.52.
Insiders Place Their Bets
In other news, insider Wes Morris sold 25,080 shares of Tyson Foods stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $64.71, for a total value of $1,622,926.80. Following the completion of the sale, the insider now directly owns 10,625 shares in the company, valued at $687,543.75. The trade was a 70.24 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, General Counsel Adam S. Deckinger sold 10,500 shares of the stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $64.80, for a total transaction of $680,400.00. Following the transaction, the general counsel now owns 19,260 shares in the company, valued at approximately $1,248,048. This trade represents a 35.28 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 58,363 shares of company stock valued at $3,732,049. Corporate insiders own 2.05% of the company’s stock.
Tyson Foods 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.
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