Mirae Asset Global Investments Co. Ltd. Buys New Position in Tyson Foods, Inc. $TSN

Key Points

• Mirae Asset Global Investments established a new Tyson Foods position in the third quarter, buying 72,660 shares valued at approximately $3.67 million.
• Institutional investors collectively own 67% of Tyson Foods; several other funds also recently opened or increased positions.
• Analyst sentiment is mixed: the consensus rating is Hold, with a consensus price target of $66.78. Five analysts rate the stock Buy, six Hold, and one Sell.

Mirae Asset Global Investments Co. Ltd. bought a new stake in Tyson Foods, Inc. (NYSE:TSN - Free Report) during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 72,660 shares of the company's stock, valued at approximately $3,672,000.

Several other large investors have also modified their holdings of TSN. Reyes Financial Architecture Inc. acquired a new stake in shares of Tyson Foods during the third quarter worth $28,000. Ascentis Independent Advisors purchased a new position in Tyson Foods during the 1st quarter worth $30,000. Basecamp Wealth Advisors LLC lifted its stake in shares of Tyson Foods by 272.8% in the 1st quarter. Basecamp Wealth Advisors LLC now owns 466 shares of the company's stock worth $30,000 after acquiring an additional 341 shares during the period. Cedar Mountain Advisors LLC lifted its stake in shares of Tyson Foods by 293.5% in the 1st quarter. Cedar Mountain Advisors LLC now owns 488 shares of the company's stock worth $31,000 after acquiring an additional 364 shares during the period. Finally, Archer Investment Corp purchased a new stake in shares of Tyson Foods in the second quarter valued at about $31,000. Hedge funds and other institutional investors own 67.00% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on TSN shares. Piper Sandler dropped their price target on shares of Tyson Foods from $66.00 to $56.00 and set an "overweight" rating on the stock in a research note on Wednesday, October 7th. Barclays reduced their price objective on shares of Tyson Foods from $78.00 to $75.00 and set an "overweight" rating for the company in a research report on Friday, September 4th. JPMorgan Chase & Co. raised Tyson Foods from a "neutral" rating to an "overweight" rating and lowered their price objective for the company from $65.00 to $63.00 in a report on Friday, September 18th. BMO Capital Markets dropped their target price on Tyson Foods from $75.00 to $65.00 and set an "outperform" rating on the stock in a research report on Friday, September 4th. Finally, HSBC dropped their price objective on Tyson Foods from $74.00 to $69.00 and set a "hold" rating on the stock in a report on Wednesday, July 29th. Five equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $66.78.

Tyson Foods Price Performance

TSN stock traded down $0.41 during trading on Friday, reaching $59.70. 3,458,645 shares of the company were exchanged, compared to its average volume of 3,130,137. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.55 and a current ratio of 1.43. The stock's 50 day moving average price is $53.88 and its 200 day moving average price is $59.53. Tyson Foods, Inc. has a 52-week low of $49.96 and a 52-week high of $69.48. The company has a market cap of $21.00 billion, a P/E ratio of 36.85, a PEG ratio of 0.95 and a beta of 0.38.

Tyson Foods Profile

Tyson Foods, Inc is a global food company that produces and markets protein-based food products. Its operations include poultry, beef, pork and prepared foods, serving retail grocery, foodservice and industrial customers.

The company sells products under brands including Tyson, Jimmy Dean, Hillshire Farm, Ball Park, Wright, Aidells and State Fair. Its offerings include fresh and frozen meat, deli products, sausages, bacon, prepared meals, snacks and other convenience foods.

Founded in 1935 by John W.

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