Tyson Foods, Inc. (NYSE:TSN) Sees Large Increase in Short Interest

Tyson Foods, Inc. (NYSE:TSN) was the recipient of a significant growth in short interest in November. As of November 15th, there was short interest totalling 5,370,000 shares, a growth of 22.0% from the October 31st total of 4,400,000 shares. Based on an average daily volume of 2,230,000 shares, the days-to-cover ratio is currently 2.4 days. Currently, 1.9% of the shares of the stock are sold short.

Insider Buying and Selling

In other Tyson Foods news, insider Wes Morris sold 22,783 shares of the company’s stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $62.71, for a total value of $1,428,721.93. Following the completion of the sale, the insider now directly owns 15,937 shares in the company, valued at $999,409.27. This represents a 58.84 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Adam S. Deckinger sold 10,500 shares of the company’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $64.80, for a total value of $680,400.00. Following the completion of the transaction, the general counsel now directly 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. Over the last ninety days, insiders sold 414,814 shares of company stock worth $26,450,955. 2.05% of the stock is owned by corporate insiders.

Institutional Trading of Tyson Foods

A number of hedge funds have recently added to or reduced their stakes in the stock. Catalyst Capital Advisors LLC lifted its holdings in shares of Tyson Foods by 56.1% in the 3rd quarter. Catalyst Capital Advisors LLC now owns 584 shares of the company’s stock valued at $35,000 after buying an additional 210 shares during the period. Harvest Fund Management Co. Ltd acquired a new stake in shares of Tyson Foods in the 3rd quarter valued at approximately $36,000. Thurston Springer Miller Herd & Titak Inc. lifted 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 buying an additional 561 shares during the period. Hantz Financial Services Inc. acquired a new stake in shares of Tyson Foods in the 2nd quarter valued at approximately $54,000. Finally, Northwest Investment Counselors LLC acquired a new stake in shares of Tyson Foods in the 3rd quarter valued at approximately $59,000. 67.00% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have recently commented on TSN. Bank of America decreased their price target on Tyson Foods from $65.00 to $62.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 15th. BMO Capital Markets increased their price objective on Tyson Foods from $60.00 to $62.00 and gave the company a “market perform” rating in a report on Wednesday, November 13th. Barclays increased their price objective on Tyson Foods from $72.00 to $76.00 and gave the company an “overweight” rating in a report on Monday, September 9th. StockNews.com upgraded Tyson Foods from a “hold” rating to a “buy” rating in a research note on Tuesday, August 6th. Finally, Piper Sandler raised their price target on Tyson Foods from $50.00 to $58.00 and gave the stock an “underweight” rating in a research note on Wednesday, November 13th. Two analysts have rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, Tyson Foods presently has a consensus rating of “Hold” and an average price target of $60.67.

Tyson Foods Stock Performance

Tyson Foods stock traded down $0.17 during mid-day trading on Monday, reaching $64.33. 1,755,593 shares of the company were exchanged, compared to its average volume of 2,465,733. Tyson Foods has a twelve month low of $47.92 and a twelve month high of $66.88. The firm’s 50-day simple moving average is $60.41 and its two-hundred day simple moving average is $60.02. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.95 and a current ratio of 2.04. The firm has a market cap of $22.89 billion, a PE ratio of 28.60, a price-to-earnings-growth ratio of 0.97 and a beta of 0.78.

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.