2023-05-22 13:06:34 ET
Tyson Foods ( NYSE: TSN ) shares fell sharply after its first quarter earnings and deep cuts to guidance disappointed the Street on May 8 . However, the confidence of company insiders appears unshaken.
According to ownership disclosures filed with the SEC, CEO Donnie King, Chief People Officer Johanna Soderstrom, Director Kevin McNamara, and the group presidents of both the Fresh Meats and Poultry divisions scooped up share after the earnings result and the ensuing nearly- 20% slide for the stock. Tyson touched a 52-week low on May 10.
Among the notable purchases, CEO Donnie King acquired 10,350 shares on May 11 at an average price of $48.35. McNamara, meanwhile, purchased a whopping 20,500 shares at an average price of $48.92.
Tyson Foods ( TSN ) stock rose modestly on Monday, moving above $50.
More on Tyson Foods:
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Tyson Foods Goes On Sale After Painful Q2 Earnings Slide
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Tyson Insiders gobble up shares after post-earnings plunge