Tyson Foods (NYSE:TSN) Shares Gap Up – Should You Buy?

Tyson Foods, Inc. (NYSE:TSN)’s stock price gapped up before the market opened on Tuesday . The stock had previously closed at $58.81, but opened at $62.62. Tyson Foods shares last traded at $63.91, with a volume of 910,587 shares.

Analyst Ratings Changes

TSN has been the topic of several research reports. Piper Sandler upped their price target on Tyson Foods from $50.00 to $58.00 and gave the company an “underweight” rating in a report on Wednesday. Barclays boosted their target price on Tyson Foods from $72.00 to $76.00 and gave the stock an “overweight” rating in a research report on Monday, September 9th. Citigroup dropped their price target on Tyson Foods from $63.00 to $60.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 9th. JPMorgan Chase & Co. upped their price objective on shares of Tyson Foods from $61.00 to $63.00 and gave the company a “neutral” rating in a research note on Tuesday, August 6th. Finally, StockNews.com raised shares of Tyson Foods from a “hold” rating to a “buy” rating in a research report on Tuesday, August 6th. Two research 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. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $60.67.

Tyson Foods Stock Performance

The company has a market capitalization of $22.53 billion, a price-to-earnings ratio of 28.14, a price-to-earnings-growth ratio of 0.40 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 firm has a 50-day simple moving average of $60.14 and a two-hundred day simple moving average of $59.67.

Institutional Trading of Tyson Foods

A number of institutional investors have recently added to or reduced their stakes in TSN. Envestnet Portfolio Solutions Inc. boosted its holdings in Tyson Foods by 16.3% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 8,690 shares of the company’s stock worth $510,000 after purchasing an additional 1,220 shares in the last quarter. Empowered Funds LLC raised its stake in shares of Tyson Foods by 145.2% in the 1st quarter. Empowered Funds LLC now owns 11,087 shares of the company’s stock valued at $651,000 after acquiring an additional 6,565 shares in the last quarter. Oppenheimer & Co. Inc. boosted its position in Tyson Foods by 100.7% during the first quarter. Oppenheimer & Co. Inc. now owns 10,315 shares of the company’s stock worth $606,000 after purchasing an additional 5,175 shares during the period. Sei Investments Co. raised its position in shares of Tyson Foods by 14.9% in the first quarter. Sei Investments Co. now owns 197,108 shares of the company’s stock valued at $11,576,000 after purchasing an additional 25,527 shares during the period. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its stake in shares of Tyson Foods by 32.6% in the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 19,053 shares of the company’s stock worth $1,119,000 after buying an additional 4,679 shares during the last quarter. 67.00% of the stock is currently owned by institutional investors and hedge funds.

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.