Tyson Foods (NYSE:TSN) PT Lowered to $60.00

Tyson Foods (NYSE:TSN) had its price target reduced by Bank of America from $62.00 to $60.00 in a research note issued on Wednesday, Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Bank of America‘s target price points to a potential upside of 7.47% from the company’s previous close.

Several other research analysts also recently commented on TSN. HSBC raised their price objective on Tyson Foods from $48.00 to $51.00 and gave the stock a “reduce” rating in a report on Tuesday, May 7th. Piper Sandler raised their price objective on Tyson Foods from $55.00 to $57.00 and gave the stock a “neutral” rating in a report on Tuesday, May 7th. Citigroup raised their price objective on Tyson Foods from $57.00 to $62.00 and gave the stock a “neutral” rating in a report on Wednesday, April 3rd. BMO Capital Markets raised their price objective on Tyson Foods from $55.00 to $58.00 and gave the stock a “market perform” rating in a report on Tuesday, May 7th. Finally, Barclays upgraded Tyson Foods from an “underweight” rating to an “overweight” rating and raised their price objective for the stock from $53.00 to $69.00 in a report on Tuesday, April 16th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, Tyson Foods has a consensus rating of “Hold” and an average price target of $60.00.

Tyson Foods Trading Down 0.1 %

Shares of TSN stock traded down $0.08 on Wednesday, reaching $55.83. 383,267 shares of the company’s stock were exchanged, compared to its average volume of 2,691,387. Tyson Foods has a 52 week low of $44.94 and a 52 week high of $62.04. The company has a current ratio of 1.77, a quick ratio of 0.87 and a debt-to-equity ratio of 0.53. The stock has a market capitalization of $19.93 billion, a PE ratio of -31.38, a P/E/G ratio of 0.40 and a beta of 0.74. The company’s fifty day simple moving average is $57.77 and its 200 day simple moving average is $56.49.

Tyson Foods (NYSE:TSN) last issued its quarterly earnings results on Monday, May 6th. The company reported $0.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.39 by $0.23. Tyson Foods had a positive return on equity of 3.53% and a negative net margin of 1.16%. The firm had revenue of $13.07 billion during the quarter, compared to analyst estimates of $13.16 billion. During the same period last year, the company earned ($0.04) EPS. Tyson Foods’s quarterly revenue was down .5% compared to the same quarter last year. As a group, analysts forecast that Tyson Foods will post 2.6 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in TSN. Pzena Investment Management LLC grew its stake in Tyson Foods by 79.2% during the 1st quarter. Pzena Investment Management LLC now owns 10,550,056 shares of the company’s stock worth $619,605,000 after buying an additional 4,662,332 shares during the last quarter. Capital Research Global Investors grew its stake in Tyson Foods by 153.2% during the 4th quarter. Capital Research Global Investors now owns 4,827,091 shares of the company’s stock worth $259,456,000 after buying an additional 2,920,479 shares during the last quarter. Norges Bank purchased a new position in Tyson Foods during the 4th quarter worth $89,286,000. Royal London Asset Management Ltd. grew its stake in Tyson Foods by 76.9% during the 4th quarter. Royal London Asset Management Ltd. now owns 3,369,708 shares of the company’s stock worth $181,122,000 after buying an additional 1,465,139 shares during the last quarter. Finally, Assenagon Asset Management S.A. grew its stake in Tyson Foods by 14,668.0% during the 1st quarter. Assenagon Asset Management S.A. now owns 632,366 shares of the company’s stock worth $37,139,000 after buying an additional 628,084 shares during the last quarter. 67.00% of the stock is currently owned by hedge funds and other institutional investors.

Tyson Foods Company Profile

Tyson Foods, Inc, together with its subsidiaries, operates as a food company worldwide. It operates through four segments: Beef, Pork, Chicken, and Prepared Foods. The company processes live fed cattle and hogs; fabricates dressed beef and pork carcasses into primal and sub-primal meat cuts, as well as case ready beef and pork, and fully cooked meats; raises and processes chickens into fresh, frozen, and value-added chicken products, including breaded chicken strips, nuggets, patties, and other ready-to-fix or fully cooked chicken parts; and supplies poultry breeding stock.