Primecap Management Co. CA Purchases 96,600 Shares of Tyson Foods, Inc. (NYSE:TSN)

Primecap Management Co. CA increased its position in shares of Tyson Foods, Inc. (NYSE:TSN - Free Report) by 28.7% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 433,700 shares of the company's stock after purchasing an additional 96,600 shares during the period. Primecap Management Co. CA owned about 0.12% of Tyson Foods worth $25,831,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Acadian Asset Management LLC boosted its position in Tyson Foods by 1,978.9% in the 1st quarter. Acadian Asset Management LLC now owns 11,912 shares of the company's stock valued at $698,000 after buying an additional 11,339 shares during the last quarter. O Shaughnessy Asset Management LLC increased its holdings in Tyson Foods by 127.0% during the first quarter. O Shaughnessy Asset Management LLC now owns 14,287 shares of the company's stock worth $839,000 after buying an additional 7,992 shares during the last quarter. CANADA LIFE ASSURANCE Co raised its holdings in shares of Tyson Foods by 0.4% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 149,049 shares of the company's stock valued at $8,758,000 after purchasing an additional 552 shares during the period. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of Tyson Foods in the first quarter valued at approximately $527,000. Finally, Natixis bought a new position in Tyson Foods during the first quarter worth $2,389,000. 67.00% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Bank of America dropped their target price on Tyson Foods from $65.00 to $62.00 and set a "neutral" rating for the company in a report on Tuesday, October 15th. StockNews.com raised shares of Tyson Foods from a "hold" rating to a "buy" rating in a report on Tuesday, August 6th. BMO Capital Markets boosted their target price on shares of Tyson Foods from $60.00 to $62.00 and gave the stock a "market perform" rating in a research note on Wednesday, November 13th. JPMorgan Chase & Co. increased 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 upped their target price on Tyson Foods from $50.00 to $58.00 and gave the stock an "underweight" rating in a report on Wednesday, November 13th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $60.67.

Tyson Foods Stock Performance

Shares of TSN stock remained flat at $63.77 during mid-day trading on Friday. The stock had a trading volume of 3,068,271 shares, compared to its average volume of 2,473,900. The company has a market cap of $22.69 billion, a P/E ratio of 28.34, a PEG ratio of 0.95 and a beta of 0.78. The company has a current ratio of 2.04, a quick ratio of 0.95 and a debt-to-equity ratio of 0.52. The stock's 50 day simple moving average is $60.08 and its two-hundred day simple moving average is $59.82. Tyson Foods, Inc. has a 1 year low of $46.51 and a 1 year high of $66.88.

Insider Activity

In other Tyson Foods news, General Counsel Adam S. Deckinger sold 10,500 shares of Tyson Foods stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $64.80, for a total transaction of $680,400.00. Following the transaction, the general counsel now owns 19,260 shares of the company's stock, valued at $1,248,048. This trade represents a 35.28 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Wes Morris sold 25,080 shares of Tyson Foods stock in a transaction 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 sale, the insider now owns 10,625 shares in the company, valued at $687,543.75. This trade represents a 70.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 58,363 shares of company stock worth $3,732,049 in the last quarter. 2.05% of the stock is owned by corporate insiders.

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.