JPMorgan Chase & Co. Increases Position in Tyson Foods, Inc. (NYSE:TSN)

JPMorgan Chase & Co. increased its position in Tyson Foods, Inc. (NYSE:TSN) by 44.8% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 1,140,309 shares of the company’s stock after buying an additional 352,863 shares during the quarter. JPMorgan Chase & Co.’s holdings in Tyson Foods were worth $67,917,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of the business. Principal Financial Group Inc. raised its stake in Tyson Foods by 3.7% during the 3rd quarter. Principal Financial Group Inc. now owns 368,743 shares of the company’s stock valued at $21,962,000 after purchasing an additional 13,066 shares during the period. Franklin Resources Inc. grew its stake in Tyson Foods by 146.3% during the third quarter. Franklin Resources Inc. now owns 79,506 shares of the company’s stock valued at $4,758,000 after acquiring an additional 47,232 shares in the last quarter. Synovus Financial Corp lifted its stake in Tyson Foods by 12.9% in the 3rd quarter. Synovus Financial Corp now owns 6,286 shares of the company’s stock worth $374,000 after purchasing an additional 720 shares in the last quarter. Tidal Investments LLC boosted its holdings in shares of Tyson Foods by 37.5% during the 3rd quarter. Tidal Investments LLC now owns 47,059 shares of the company’s stock valued at $2,803,000 after purchasing an additional 12,830 shares during the last quarter. Finally, Arvest Bank Trust Division purchased a new position in shares of Tyson Foods during the third quarter valued at about $270,000. Hedge funds and other institutional investors own 67.00% of the company’s stock.

Insider Activity

In related news, insider Wes Morris sold 25,080 shares of the firm’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $64.71, for a total transaction of $1,622,926.80. Following the sale, the insider now owns 10,625 shares of the company’s stock, valued at $687,543.75. This trade represents a 70.24 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, General Counsel Adam S. Deckinger sold 10,500 shares of the firm’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $64.80, for a total transaction of $680,400.00. Following the completion of the sale, the general counsel now owns 19,260 shares in the company, valued at $1,248,048. This represents a 35.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 414,814 shares of company stock worth $26,450,955. 2.03% of the stock is currently owned by corporate insiders.

Tyson Foods Stock Performance

Shares of Tyson Foods stock opened at $58.18 on Friday. Tyson Foods, Inc. has a 12 month low of $51.16 and a 12 month high of $66.88. The stock’s fifty day moving average price is $60.81 and its 200-day moving average price is $60.38. The firm has a market cap of $20.70 billion, a P/E ratio of 25.86, a P/E/G ratio of 0.91 and a beta of 0.79. The company has a current ratio of 2.04, a quick ratio of 0.95 and a debt-to-equity ratio of 0.52.

Analysts Set New Price Targets

A number of research firms have issued reports on TSN. Citigroup reduced their price objective on Tyson Foods from $63.00 to $60.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 9th. Piper Sandler upped their target price on shares of Tyson Foods from $50.00 to $58.00 and gave the company an “underweight” rating in a research report on Wednesday, November 13th. BMO Capital Markets raised their price objective on Tyson Foods from $60.00 to $62.00 and gave the company a “market perform” rating in a research note on Wednesday, November 13th. Stephens increased their price target on Tyson Foods from $57.00 to $60.00 and gave the company an “equal weight” rating in a report on Wednesday, November 13th. Finally, Barclays boosted their price objective on shares of Tyson Foods from $72.00 to $76.00 and gave the company an “overweight” rating in a research report on Monday, September 9th. Two analysts have rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $60.67.

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.