LITTLE ROCK — Don Tyson, the son of Tyson Foods Inc.'s founder, continues to shed millions of dollars of stock in the company he ran for more than three decades.
In transactions revealed in recent filings with the U.S. Securities and Exchange Commission, Don Tyson sold more than $21.16 million worth of stock in the Springdale-based food companythrough his limited partnership. The 76-year-old personally netted $11.45 million through transactions logged Friday through Tuesday with the Security and Exchange Commission.
Farha Aslam, an analyst in New York who covers Tyson Foods and Pilgrim's Pride for Little Rock-based Stephens Inc., would not speculate about Tyson's reasons for selling.
"The market always takes notice when an insider sells shares; however, the fact that Don Tyson still maintains a significant interest in the company is also noted," Aslam said.
As a private investor, Tyson owns 40.7 million shares worth about $740 million of the world's largest meat producer.
The shares he sold amount to 1.5 percent of his stake in the company, Wednesday's SEC filing shows.
The Tyson Limited Partnership he heads owns 75.3 million shares, and the recent sales also equaled 1.5 percent of the partnership's stake in the company.
Although Tyson could not be reached for comment Wednesday, in May he said he would sell part of his holdings in the food company, noting his age and his intentionto diversify the family fortune.
About that time his son, John Tyson, stepped down as chief executive officer, and the board installed Richard Bond in the leadership role.
Since May, Don Tyson's partnership has filed transactions of $237 million with the SEC. Before each sale, Tyson converts his shares to Class A, which can be sold on the New York StockExchange under the ticker symbol TSN.
Tyson and his limited partnership own the vast majority of the Class B shares, which gives him more voting power in company business.
Most of the shares were sold before Tuesday, when a Chinese market scare sent the Dow Jones industrial average tumbling more than 400 points. Tyson Foods' share price rebounded Wednesday after dropping more than 2.5 percent during Tuesday's market decline.
Shares of Tyson Foods closed up 23 cents, or 1.28 percent, at $18.25 in trading Wednesday on the New York Stock Exchange. Shares have traded as low as $12.57 and as high as $19.20 over the past year.
Business, Pages 29, 30 on 03/01/2007