5 Best Beef Stocks to Buy Now

4. Tyson Foods, Inc. (NYSE:TSN)

Number of Hedge Fund Holders: 38  

Tyson Foods, Inc. (NYSE:TSN) operates as a food company worldwide. The firm is one of the most innovative businesses in the beef world, recently launching a new street taco kit in time for Cinco de Mayo, an yearly festival celebrated in the memory of Spanish victory. The kit taps into the increased consumer demand for Asian and Latin flavors, capturing the popular trend of street food at home. Alongside these offerings, Tyson has introduced other meal kits, including a hibachi-style beef stir-fry kit with noodles, an Italian-style beef marinara, and a cheesy beef melt kit. During the pandemic, consumer eating habits shifted towards more experimentation and cooking at home. While meals at home remain popular, consumers seek convenient options that are delicious, flavorful, and quick. Tyson is responding to these changing needs and preferences.

On May 9, investment advisory BMO Capital maintained a Market Perform rating on Tyson Foods, Inc. (NYSE:TSN) stock and lowered the price target to $48 from $66. Analyst Andrew Strelzik issued the ratings update.

At the end of the first quarter of 2023, 38 hedge funds in the database of Insider Monkey held stakes worth $1.1 billion in Tyson Foods, Inc. (NYSE:TSN), compared to 31 in the preceding quarter worth $1.4 billion. 

In its Q4 2022 investor letter, Aristotle Capital Management, LLC, an asset management firm, highlighted a few stocks and Tyson Foods, Inc. (NYSE:TSN) was one of them. Here is what the fund said:

“During the quarter, we exited our investments in Sun Communities, Elanco Animal Health and Tyson Foods, Inc. (NYSE:TSN) and established new positions in Merck and Sysco.

We first invested in Tyson Foods during the second quarter of 2019. At the time, we were encouraged by what we had identified as the company’s demonstrated ability to “brand” what had been previously considered pure commodity products. Furthermore, we were attracted to Tyson’s Prepared Food business, consisting of a strong portfolio of brands with attractive margins and the opportunity to gain market share as consumer preferences shifted toward prepared foods. While we believe catalysts remain, we decided to sell, as we were concerned with management changes over the past year, starting with the CEO resigning in 2021 for personal reasons, followed by the resignation of the head of Prepared Foods and exacerbated by the company’s decision to name John R. Tyson, the 32-year-old son of the firm’s chairman, as CFO.”