Pzena Investment Management LLC Acquires 54,217 Shares of Tyson Foods, Inc. (NYSE:TSN)

Pzena Investment Management LLC grew its stake in Tyson Foods, Inc. (NYSE:TSN) by 0.4% in the third quarter, Holdings Channel.com reports. The institutional investor owned 12,543,781 shares of the company’s stock after buying an additional 54,217 shares during the quarter. Tyson Foods makes up approximately 2.4% of Pzena Investment Management LLC’s portfolio, making the stock its 19th largest holding. Pzena Investment Management LLC’s holdings in Tyson Foods were worth $747,108,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also made changes to their positions in the stock. Bellwether Advisors LLC acquired a new position in Tyson Foods during the third quarter valued at approximately $692,000. Commerce Bank raised its holdings in Tyson Foods by 455.8% in the 3rd quarter. Commerce Bank now owns 89,743 shares of the company’s stock worth $5,345,000 after acquiring an additional 73,597 shares during the period. PNC Financial Services Group Inc. lifted its position in Tyson Foods by 0.4% during the 3rd quarter. PNC Financial Services Group Inc. now owns 48,829 shares of the company’s stock worth $2,908,000 after acquiring an additional 189 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG bought a new stake in Tyson Foods during the third quarter valued at about $443,000. Finally, Prospera Financial Services Inc grew its position in shares of Tyson Foods by 11.7% in the third quarter. Prospera Financial Services Inc now owns 4,298 shares of the company’s stock valued at $256,000 after purchasing an additional 451 shares during the last quarter. Institutional investors and hedge funds own 67.00% of the company’s stock.

Tyson Foods Stock Performance

Shares of NYSE TSN traded up $0.30 during mid-day trading on Wednesday, reaching $63.22. 142,641 shares of the company were exchanged, compared to its average volume of 2,455,137. The stock has a market capitalization of $22.50 billion, a P/E ratio of 27.96, a P/E/G ratio of 0.97 and a beta of 0.78. The company has a quick ratio of 0.95, a current ratio of 2.04 and a debt-to-equity ratio of 0.52. Tyson Foods, Inc. has a twelve month low of $46.51 and a twelve month high of $66.88. The company’s 50-day simple moving average is $60.01 and its 200-day simple moving average is $59.77.

Insider Transactions at Tyson Foods

In related news, insider Wes Morris sold 25,080 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The stock was 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 approximately $687,543.75. The trade was a 70.24 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, General Counsel Adam S. Deckinger sold 10,500 shares of the firm’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $64.80, for a total value 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. Insiders sold a total of 58,363 shares of company stock worth $3,732,049 over the last quarter. Company insiders own 2.05% of the company’s stock.

Wall Street Analysts Forecast Growth

TSN has been the topic of a number of research analyst reports. StockNews.com raised Tyson Foods from a “hold” rating to a “buy” rating in a report on Tuesday, August 6th. Bank of America decreased their price target on shares of Tyson Foods from $65.00 to $62.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 15th. Stephens increased their target price on shares of Tyson Foods from $57.00 to $60.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 13th. JPMorgan Chase & Co. boosted their price target on Tyson Foods from $61.00 to $63.00 and gave the company a “neutral” rating in a research note on Tuesday, August 6th. Finally, Piper Sandler raised their price objective on Tyson Foods from $50.00 to $58.00 and gave the stock an “underweight” rating in a research report on Wednesday, November 13th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $60.67.

About Tyson Foods

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.