Here Is How Investors Reacted To The Latest Stock Upgrades and Downgrades

Shareholders of Tyson Foods, Inc. (NYSE:TSN) were not pleased by the latest update from RBC Capital, as the stock was downgraded to ‘Sector Perform’ from the previous ‘Outperform’ rating. The firm has not changed its price target, which is currently at $53 per share. The poor performance of the company’s prepared food segment was one of the main reasons behind the revision. Shares of Tyson Foods fell by as much as 3.7% in Tuesday morning trading.

Some hedge funds sought to distance themselves from Tyson Foods, Inc. (NYSE:TSN) during the third quarter, as the number of positions held by the funds we track decreased to 46 by the end of September from 50 at the end of June. David Cohen and Harold Levy’s Iridian Asset Management believed the stock was poised for growth, having increased its stake by roughly 200% to 6.5 million shares during the third quarter.

Shares of Capital One Financial Corp. (NYSE:COF) are down by 2% this morning, after the stock was downgraded by Oppenheimer. The firm said it does not expect the company to meet its expectations for 2016 and 2017, as it sees the company’s new healthcare business as the only source for growth in the near future. As a result, analysts have downgraded the stock to ‘Market Perform’ from ‘Outperform’, having made no adjustment to their previous price target of $92 per share.

Ric Dillon and his fund, Diamond Hill Capital, hold the largest stake in Capital One Financial Corp. (NYSE:COF) among the funds we track, having reported ownership of 3.74 million shares, up by 5% over the third quarter. Although the number of hedge fund positions in Capital One Financial rose to 53 during the quarter, together they held a relatively insignificant 3.7% of the company’s outstanding stock.

Disclosure: none