Tyson Foods (NYSE:TSN – Get Free Report) had its price objective reduced by analysts at HSBC from $74.00 to $69.00 in a research report issued on Wednesday,MarketScreener (Pasted) reports. The brokerage presently has a “hold” rating on the stock. HSBC’s price objective suggests a potential upside of 16.07% from the stock’s previous close.
Other equities research analysts have also recently issued research reports about the company. Bank of America reduced their price objective on Tyson Foods from $70.00 to $68.00 and set a “neutral” rating for the company in a report on Thursday, July 2nd. JPMorgan Chase & Co. dropped their price target on Tyson Foods from $71.00 to $65.00 and set a “neutral” rating for the company in a report on Tuesday, July 14th. Piper Sandler reaffirmed an “overweight” rating and issued a $78.00 price objective (down from $80.00) on shares of Tyson Foods in a report on Thursday, June 18th. Sanford C. Bernstein lowered their price objective on Tyson Foods from $72.00 to $63.00 and set a “market perform” rating on the stock in a research report on Thursday, July 2nd. Finally, Wall Street Zen downgraded Tyson Foods from a “buy” rating to a “hold” rating in a report on Saturday, June 20th. Four analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Tyson Foods presently has an average rating of “Hold” and a consensus price target of $70.67.
Get Our Latest Stock Analysis on TSN
Tyson Foods Stock Performance
Tyson Foods (NYSE:TSN – Get Free Report) last posted its earnings results on Monday, May 4th. The company reported $0.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.76 by $0.11. The company had revenue of $13.65 billion during the quarter, compared to analysts’ expectations of $13.63 billion. Tyson Foods had a net margin of 0.81% and a return on equity of 7.59%. Tyson Foods’s quarterly revenue was up 4.4% compared to the same quarter last year. During the same quarter last year, the company posted $0.92 EPS. Analysts expect that Tyson Foods will post 4.08 EPS for the current year.
Institutional Investors Weigh In On Tyson Foods
A number of large investors have recently added to or reduced their stakes in the stock. Norges Bank bought a new position in Tyson Foods during the 4th quarter worth $308,297,000. Davis Selected Advisers lifted its position in shares of Tyson Foods by 28.8% during the 4th quarter. Davis Selected Advisers now owns 12,827,540 shares of the company’s stock valued at $751,951,000 after acquiring an additional 2,865,413 shares during the period. Life Cycle Investment Partners Ltd acquired a new stake in shares of Tyson Foods during the 4th quarter worth $165,220,000. Pzena Investment Management LLC increased its position in shares of Tyson Foods by 12.1% in the first quarter. Pzena Investment Management LLC now owns 17,155,713 shares of the company’s stock worth $1,099,167,000 after purchasing an additional 1,845,200 shares during the period. Finally, AQR Capital Management LLC increased its position in shares of Tyson Foods by 34.4% in the third quarter. AQR Capital Management LLC now owns 6,726,796 shares of the company’s stock worth $363,852,000 after purchasing an additional 1,720,009 shares during the period. Institutional investors and hedge funds own 67.00% of the company’s stock.
Tyson Foods Company Profile
Tyson Foods, Inc (NYSE: TSN) is a multinational food company primarily engaged in the production, processing and marketing of protein-based and prepared food products. Founded in 1935 and headquartered in Springdale, Arkansas, the company is one of the world’s largest processors of chicken, beef and pork. Its operations span live animal procurement and farming relationships through slaughter, further processing and distribution, supplying raw protein and value-added prepared foods to retail, foodservice and industrial customers.
The company’s product portfolio covers fresh and frozen meats, branded and private-label prepared foods, and a range of value-added items such as ready-to-eat and ready-to-cook meals, snack and sandwich meats.
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