Summit Global Investments Purchases New Position in Tyson Foods, Inc. (NYSE:TSN)

Summit Global Investments acquired a new position in shares of Tyson Foods, Inc. (NYSE:TSN) during the 3rd quarter, Holdings Channel.com reports. The fund acquired 52,340 shares of the company’s stock, valued at approximately $3,117,000.

Other hedge funds also recently modified their holdings of the company. Catalyst Capital Advisors LLC grew its position in Tyson Foods by 56.1% during the 3rd quarter. Catalyst Capital Advisors LLC now owns 584 shares of the company’s stock worth $35,000 after acquiring an additional 210 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. boosted its stake in Tyson Foods by 301.6% in the third quarter. Thurston Springer Miller Herd & Titak Inc. now owns 747 shares of the company’s stock worth $44,000 after purchasing an additional 561 shares in the last quarter. Hantz Financial Services Inc. bought a new stake in shares of Tyson Foods during the second quarter worth $54,000. Northwest Investment Counselors LLC acquired a new stake in shares of Tyson Foods in the third quarter valued at $59,000. Finally, SYSTM Wealth Solutions LLC raised its holdings in shares of Tyson Foods by 1,566.2% in the second quarter. SYSTM Wealth Solutions LLC now owns 1,083 shares of the company’s stock valued at $62,000 after buying an additional 1,018 shares during the last quarter. Institutional investors and hedge funds own 67.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. Piper Sandler lowered shares of Tyson Foods from a “neutral” rating to an “underweight” rating and decreased their price objective for the stock from $57.00 to $50.00 in a report on Wednesday, September 25th. Stephens began coverage on shares of Tyson Foods in a research report on Thursday, October 3rd. They set an “equal weight” rating and a $57.00 target price on the stock. StockNews.com raised shares of Tyson Foods from a “hold” rating to a “buy” rating in a report on Tuesday, August 6th. Citigroup reduced their price objective on Tyson Foods from $63.00 to $60.00 and set a “neutral” rating on the stock in a report 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 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 data from MarketBeat.com, Tyson Foods currently has an average rating of “Hold” and a consensus price target of $59.22.

Tyson Foods Stock Performance

TSN stock opened at $58.71 on Friday. Tyson Foods, Inc. has a twelve month low of $45.13 and a twelve month high of $66.88. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.82 and a quick ratio of 0.95. The business’s fifty day moving average is $60.51 and its 200-day moving average is $59.70.

Tyson Foods (NYSE:TSN) last issued its earnings results on Monday, August 5th. The company reported $0.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.65 by $0.22. The firm had revenue of $13.35 billion for the quarter, compared to analysts’ expectations of $13.21 billion. Tyson Foods had a positive return on equity of 4.97% and a negative net margin of 0.01%. The company’s revenue was up 1.6% compared to the same quarter last year. During the same quarter last year, the business earned $0.15 earnings per share. Research analysts predict that Tyson Foods, Inc. will post 2.83 earnings per share for the current fiscal year.

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.