Summit Global Investments Buys New Shares in Tyson Foods, Inc. (NYSE:TSN)

Summit Global Investments acquired a new stake in Tyson Foods, Inc. (NYSE:TSN - Free Report) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 52,340 shares of the company's stock, valued at approximately $3,117,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Catalyst Capital Advisors LLC grew its holdings in Tyson Foods by 56.1% during the 3rd quarter. Catalyst Capital Advisors LLC now owns 584 shares of the company's stock valued at $35,000 after purchasing an additional 210 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. raised its holdings in shares of Tyson Foods by 301.6% in 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 stake in Tyson Foods during the second quarter worth $54,000. Northwest Investment Counselors LLC purchased a new position in shares of Tyson Foods in the 3rd quarter valued at $59,000. Finally, SYSTM Wealth Solutions LLC boosted its position in Tyson Foods by 1,566.2% during the second quarter. SYSTM Wealth Solutions LLC now owns 1,083 shares of the company's stock valued at $62,000 after purchasing an additional 1,018 shares in the last quarter. 67.00% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on TSN shares. Piper Sandler downgraded shares of Tyson Foods from a "neutral" rating to an "underweight" rating and cut their price objective for the stock from $57.00 to $50.00 in a research report on Wednesday, September 25th. Stephens initiated coverage on Tyson Foods in a research report on Thursday, October 3rd. They issued an "equal weight" rating and a $57.00 price objective for the company. Bank of America lowered their price target on Tyson Foods from $65.00 to $62.00 and set a "neutral" rating for the company in a report on Tuesday, October 15th. BMO Capital Markets upped their price objective on shares of Tyson Foods from $58.00 to $60.00 and gave the company a "market perform" rating in a report on Tuesday, August 6th. Finally, Citigroup lowered their target price on shares of Tyson Foods from $63.00 to $60.00 and set a "neutral" rating for the company in a research note on Wednesday, October 9th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $59.22.

Tyson Foods Trading Up 2.0 %

TSN stock traded up $1.19 during midday trading on Friday, reaching $59.90. The company had a trading volume of 1,343,216 shares, compared to its average volume of 2,427,366. The company has a 50 day moving average of $60.51 and a two-hundred day moving average of $59.70. The company has a quick ratio of 0.95, a current ratio of 1.82 and a debt-to-equity ratio of 0.53. Tyson Foods, Inc. has a 1 year low of $45.13 and a 1 year high of $66.88.

Tyson Foods (NYSE:TSN - Get Free Report) last posted its earnings results on Monday, August 5th. The company reported $0.87 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.65 by $0.22. The business had revenue of $13.35 billion for the quarter, compared to analyst estimates of $13.21 billion. Tyson Foods had a negative net margin of 0.01% and a positive return on equity of 4.97%. Tyson Foods's revenue was up 1.6% compared to the same quarter last year. During the same period last year, the business posted $0.15 EPS. As a group, equities analysts expect that Tyson Foods, Inc. will post 2.83 EPS for the current fiscal year.

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.