Stock Traders Buy High Volume of Put Options on Tyson Foods (NYSE:TSN)

Tyson Foods, Inc. (NYSE:TSN) saw unusually large options trading activity on Tuesday. Stock traders purchased 5,034 put options on the company. This represents an increase of 100% compared to the average volume of 2,518 put options.

Insiders Place Their Bets

In other Tyson Foods news, Director Noel W. White sold 171,057 shares of the stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $63.70, for a total value of $10,896,330.90. Following the sale, the director now directly owns 36,179 shares of the company’s stock, valued at approximately $2,304,602.30. This represents a 82.54 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Chairman John H. Tyson sold 185,394 shares of the firm’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $63.77, for a total transaction of $11,822,575.38. Following the completion of the sale, the chairman now owns 3,003,374 shares in the company, valued at $191,525,159.98. The trade was a 5.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 414,814 shares of company stock worth $26,450,955 in the last ninety days. 2.05% of the stock is owned by corporate insiders.

Institutional Trading of Tyson Foods

A number of large investors have recently bought and sold shares of TSN. Franklin Resources Inc. raised its stake in Tyson Foods by 146.3% during the 3rd quarter. Franklin Resources Inc. now owns 79,506 shares of the company’s stock valued at $4,758,000 after acquiring an additional 47,232 shares during the last quarter. Synovus Financial Corp raised its stake in shares of Tyson Foods by 12.9% during the third quarter. Synovus Financial Corp now owns 6,286 shares of the company’s stock worth $374,000 after purchasing an additional 720 shares during the last quarter. Tidal Investments LLC lifted its holdings in shares of Tyson Foods by 37.5% during the third quarter. Tidal Investments LLC now owns 47,059 shares of the company’s stock worth $2,803,000 after purchasing an additional 12,830 shares during the period. Arvest Bank Trust Division purchased a new position in Tyson Foods in the 3rd quarter valued at $270,000. Finally, Sanctuary Advisors LLC increased its stake in Tyson Foods by 47.0% in the 3rd quarter. Sanctuary Advisors LLC now owns 31,118 shares of the company’s stock valued at $1,984,000 after buying an additional 9,947 shares during the period. Institutional investors and hedge funds own 67.00% of the company’s stock.

Tyson Foods Stock Performance

Shares of TSN opened at $64.44 on Thursday. The company’s 50 day simple moving average is $60.26 and its 200-day simple moving average is $59.96. The firm has a market cap of $22.93 billion, a PE ratio of 28.64, a price-to-earnings-growth ratio of 0.96 and a beta of 0.78. Tyson Foods has a 12-month low of $46.51 and a 12-month high of $66.88. The company has a current ratio of 2.04, a quick ratio of 0.95 and a debt-to-equity ratio of 0.52.

Analyst Ratings Changes

A number of analysts have weighed in on TSN shares. Bank of America cut 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. Citigroup cut their target price on Tyson Foods from $63.00 to $60.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 9th. BMO Capital Markets upped their price target on Tyson Foods from $60.00 to $62.00 and gave the company a “market perform” rating in a report on Wednesday, November 13th. Piper Sandler boosted their price objective on shares of Tyson Foods from $50.00 to $58.00 and gave the stock an “underweight” rating in a research report on Wednesday, November 13th. Finally, JPMorgan Chase & Co. increased their target price on shares of Tyson Foods from $61.00 to $63.00 and gave the company a “neutral” rating in a research report on Tuesday, August 6th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $60.67.

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.