Seeing as Tyson Foods, Inc. (NYSE:TSN) has witnessed falling interest from the entirety of the hedge funds we track, we can see that there is a sect of hedge funds who sold off their entire stakes in the third quarter. At the top of the heap, Gregg Moskowitz’s Interval Partners said goodbye to the biggest investment of all the hedgies followed by Insider Monkey, comprising about $19.6 million in stock, and Frank Brosens’s Taconic Capital was right behind this move, as the fund dropped about $14.9 million worth of shares. These moves are intriguing to say the least, as total hedge fund interest dropped by 4 funds in the third quarter.
Let’s go over hedge fund activity in other stocks similar to Tyson Foods, Inc. (NYSE:TSN). We will take a look at Telekomunikasi Indns Tbk Prshn PP PT-ADR (NYSE:TLK), ConAgra Foods, Inc. (NYSE:CAG), Under Armour Inc (NYSE:UA), and TD Ameritrade Holding Corp. (NYSE:AMTD). All of these stocks’ market caps are similar to Tyson Foods, Inc. (NYSE:TSN)’s market cap.
|Ticker||No of HFs with positions||Total Value of HF Positions (x1000)||Change in HF Position|
As you can see, these stocks had an average of 22 hedge funds with bullish positions and the average amount invested in these stocks was $845 million. That figure was $1.81 billion in Tyson Foods, Inc. (NYSE:TSN)’s case. ConAgra Foods, Inc. (NYSE:CAG) is the most popular stock in this table. On the other hand, Telekomunikasi Indns Tbk Prshn PP PT-ADR (NYSE:TLK) is the least popular one with only 9 bullish hedge fund positions. Compared to these stocks, Tyson Foods, Inc. (NYSE:TSN) is more popular among hedge funds. Considering that hedge funds are fond of this stock in relation to its market cap peers, it may be a good idea to analyze it in detail and potentially include it in your portfolio.