Wells Fargo & Company MN lowered its position in Tyson Foods, Inc. (NYSE:TSN) by 22.4% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 2,934,299 shares of the company’s stock after selling 849,131 shares during the period. Wells Fargo & Company MN owned 0.80% of Tyson Foods worth $174,679,000 at the end of the most recent quarter.
A number of other hedge funds have also recently made changes to their positions in the business. BerganKDV Wealth Management LLC acquired a new stake in shares of Tyson Foods in the 2nd quarter worth $103,000. Trust Department MB Financial Bank N A acquired a new stake in shares of Tyson Foods in the 2nd quarter worth $106,000. MUFG Americas Holdings Corp increased its stake in shares of Tyson Foods by 99.3% in the 2nd quarter. MUFG Americas Holdings Corp now owns 1,722 shares of the company’s stock worth $119,000 after acquiring an additional 858 shares during the last quarter. Fort L.P. acquired a new stake in shares of Tyson Foods in the 2nd quarter worth $119,000. Finally, Cerebellum GP LLC acquired a new stake in shares of Tyson Foods in the 3rd quarter worth $170,000. Institutional investors own 70.18% of the company’s stock.
Shares of NYSE:TSN opened at $62.08 on Friday. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.48 and a quick ratio of 0.66. The stock has a market cap of $22.71 billion, a P/E ratio of 11.69, a price-to-earnings-growth ratio of 0.94 and a beta of 0.17. Tyson Foods, Inc. has a 12-month low of $56.79 and a 12-month high of $84.65.
A number of analysts have issued reports on the company. Barclays cut their target price on Tyson Foods from $80.00 to $73.00 and set a “buy” rating for the company in a research note on Monday, July 30th. BMO Capital Markets cut their target price on Tyson Foods from $89.00 to $82.00 and set an “outperform” rating for the company in a research note on Tuesday, August 7th. Stephens cut their target price on Tyson Foods to $73.00 and set an “overweight” rating for the company in a research note on Monday, July 30th. They noted that the move was a valuation call. Argus downgraded Tyson Foods from a “buy” rating to a “hold” rating in a research note on Wednesday, September 5th. Finally, Zacks Investment Research downgraded Tyson Foods from a “buy” rating to a “hold” rating in a research note on Tuesday, October 16th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and nine have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $74.56.
Tyson Foods Profile
Tyson Foods, Inc, together with its subsidiaries, operates as a food company worldwide. It operates through four segments: Chicken, Beef, Pork, and Prepared Foods. The company raises and processes chickens into fresh, frozen, and value-added chicken products; processes live fed cattle and live market hogs; and 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.
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