Peapack Gladstone Financial Corp Trims Holdings in Tyson Foods, Inc. (NYSE:TSN)

Peapack Gladstone Financial Corp cut its stake in Tyson Foods, Inc. (NYSE:TSN) by 0.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 34,740 shares of the company’s stock after selling 190 shares during the period. Peapack Gladstone Financial Corp’s holdings in Tyson Foods were worth $2,069,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the stock. Wealth Enhancement Advisory Services LLC lifted its position in shares of Tyson Foods by 10.7% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 10,427 shares of the company’s stock worth $596,000 after purchasing an additional 1,006 shares during the last quarter. Envestnet Portfolio Solutions Inc. lifted its holdings in Tyson Foods by 15.5% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 10,039 shares of the company’s stock worth $574,000 after buying an additional 1,349 shares during the last quarter. Blue Trust Inc. grew its position in shares of Tyson Foods by 35.2% in the 2nd quarter. Blue Trust Inc. now owns 2,383 shares of the company’s stock worth $140,000 after acquiring an additional 621 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its holdings in shares of Tyson Foods by 6.9% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 735,185 shares of the company’s stock valued at $42,008,000 after acquiring an additional 47,334 shares during the last quarter. Finally, Raymond James & Associates raised its position in shares of Tyson Foods by 12.7% during the 2nd quarter. Raymond James & Associates now owns 178,166 shares of the company’s stock valued at $10,180,000 after acquiring an additional 20,136 shares in the last quarter. 67.00% of the stock is currently owned by institutional investors.

Insider Activity

In related news, insider Wes Morris sold 22,783 shares of the business’s stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $62.71, for a total transaction of $1,428,721.93. Following the sale, the insider now owns 15,937 shares of the company’s stock, valued at $999,409.27. The trade was a 58.84 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman John H. Tyson sold 185,394 shares of Tyson Foods stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $63.77, for a total value of $11,822,575.38. Following the transaction, the chairman now owns 3,003,374 shares in the company, valued at approximately $191,525,159.98. This trade represents a 5.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 414,814 shares of company stock valued at $26,450,955. Company insiders own 2.05% of the company’s stock.

Tyson Foods Stock Down 1.2 %

TSN opened at $60.48 on Friday. The stock’s 50 day moving average price is $61.09 and its 200 day moving average price is $60.20. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.04 and a quick ratio of 0.95. The stock has a market cap of $21.52 billion, a P/E ratio of 26.88, a P/E/G ratio of 0.91 and a beta of 0.79. Tyson Foods, Inc. has a 12 month low of $50.97 and a 12 month high of $66.88.

Analysts Set New Price Targets

Several analysts have weighed in on the stock. Piper Sandler boosted their target price on shares of Tyson Foods from $50.00 to $58.00 and gave the company an “underweight” rating in a research note on Wednesday, November 13th. Citigroup lowered their price objective on shares of Tyson Foods from $63.00 to $60.00 and set a “neutral” rating for the company in a research report on Wednesday, October 9th. Barclays raised their target price on shares of Tyson Foods from $72.00 to $76.00 and gave the stock an “overweight” rating in a report on Monday, September 9th. Bank of America dropped their price target on Tyson Foods from $65.00 to $62.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 15th. Finally, BMO Capital Markets boosted their price objective on Tyson Foods from $60.00 to $62.00 and gave the company a “market perform” rating in a research report on Wednesday, November 13th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $60.67.

Tyson Foods Company Profile

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.