Tyson Foods Sees Unusually High Options Volume (NYSE:TSN)

Tyson Foods, Inc. (NYSE:TSN - Get Free Report) was the recipient of unusually large options trading on Tuesday. Stock investors purchased 20,346 put options on the company. This is an increase of 701% compared to the average volume of 2,539 put options.

Tyson Foods Stock Performance

Shares of NYSE TSN traded up $0.30 during mid-day trading on Tuesday, hitting $57.44. The company had a trading volume of 3,708,653 shares, compared to its average volume of 2,437,958. Tyson Foods has a 12 month low of $51.16 and a 12 month high of $66.88. The stock has a market cap of $20.44 billion, a price-to-earnings ratio of 25.53, a PEG ratio of 0.91 and a beta of 0.79. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.04 and a quick ratio of 0.95. The firm's 50 day simple moving average is $60.85 and its two-hundred day simple moving average is $60.41.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Barclays lifted their price target 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. Stephens upped their price target on shares of Tyson Foods from $57.00 to $60.00 and gave the stock an "equal weight" rating in a research report on Wednesday, November 13th. Piper Sandler increased their price target on Tyson Foods from $50.00 to $58.00 and gave the company an "underweight" rating in a report on Wednesday, November 13th. 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. Finally, Bank of America lowered their target price on Tyson Foods from $65.00 to $62.00 and set a "neutral" rating for the company in a research note on Tuesday, October 15th. Two equities 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. According to MarketBeat.com, Tyson Foods presently has a consensus rating of "Hold" and an average price target of $60.67.

Insiders Place Their Bets

In other news, General Counsel Adam S. Deckinger sold 10,500 shares of the company's stock in a transaction on Friday, November 15th. The stock was 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 directly owns 19,260 shares in the company, valued at $1,248,048. This represents a 35.28 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Noel W. White sold 171,057 shares of Tyson Foods stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $63.70, for a total value of $10,896,330.90. Following the completion of the transaction, the director now owns 36,179 shares in the company, valued at $2,304,602.30. The trade was a 82.54 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 414,814 shares of company stock valued at $26,450,955. Insiders own 2.03% of the company's stock.

Hedge Funds Weigh In On Tyson Foods

Several hedge funds and other institutional investors have recently modified their holdings of the company. Mizuho Securities USA LLC lifted its position in Tyson Foods by 517.7% in the 3rd quarter. Mizuho Securities USA LLC now owns 136,235 shares of the company's stock valued at $8,114,000 after purchasing an additional 114,179 shares during the last quarter. Y Intercept Hong Kong Ltd acquired a new position in shares of Tyson Foods during the third quarter worth approximately $1,036,000. The Manufacturers Life Insurance Company grew its holdings in Tyson Foods by 4.1% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 466,588 shares of the company's stock worth $27,790,000 after buying an additional 18,317 shares in the last quarter. Primecap Management Co. CA increased its position in Tyson Foods by 28.7% in the 3rd quarter. Primecap Management Co. CA now owns 433,700 shares of the company's stock valued at $25,831,000 after acquiring an additional 96,600 shares during the period. Finally, Citigroup Inc. raised its stake in Tyson Foods by 9.3% during the 3rd quarter. Citigroup Inc. now owns 310,210 shares of the company's stock valued at $18,476,000 after acquiring an additional 26,352 shares in the last quarter. Institutional investors and hedge funds own 67.00% of the company's stock.

Tyson Foods Company 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.