HSBC Raises Tyson Foods (NYSE:TSN) Price Target to $51.00

Tyson Foods (NYSE:TSN) had its price objective increased by equities research analysts at HSBC from $48.00 to $51.00 in a note issued to investors on Tuesday, Benzinga reports. The firm currently has a “reduce” rating on the stock. HSBC’s price target would suggest a potential downside of 12.98% from the company’s current price.

Other equities analysts have also issued reports about the stock. The Goldman Sachs Group boosted their target price on shares of Tyson Foods from $49.00 to $54.00 and gave the company a “neutral” rating in a report on Wednesday, April 17th. Barclays upgraded shares of Tyson Foods from an “underweight” rating to an “overweight” rating and upped their price objective for the stock from $53.00 to $69.00 in a report on Tuesday, April 16th. BMO Capital Markets upped their price objective on shares of Tyson Foods from $55.00 to $58.00 and gave the stock a “market perform” rating in a report on Tuesday. Piper Sandler upped their target price on shares of Tyson Foods from $55.00 to $57.00 and gave the stock a “neutral” rating in a research note on Tuesday. Finally, Citigroup upped their target price on shares of Tyson Foods from $57.00 to $62.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 3rd. One analyst has rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $60.60.

Tyson Foods Stock Performance

TSN traded up $0.11 on Tuesday, reaching $58.61. The stock had a trading volume of 2,104,385 shares, compared to its average volume of 2,855,784. Tyson Foods has a 12-month low of $44.94 and a 12-month high of $62.04. The company has a current ratio of 1.49, a quick ratio of 0.67 and a debt-to-equity ratio of 0.46. The business’s 50-day moving average price is $57.80 and its two-hundred day moving average price is $53.53. The company has a market cap of $20.89 billion, a P/E ratio of -23.74, a price-to-earnings-growth ratio of 0.49 and a beta of 0.74.

Tyson Foods (NYSE:TSN) last released its quarterly earnings data on Monday, May 6th. The company reported $0.62 earnings per share for the quarter, beating analysts’ consensus estimates of $0.39 by $0.23. The company had revenue of $13.07 billion during the quarter, compared to analysts’ expectations of $13.16 billion. Tyson Foods had a negative net margin of 1.62% and a positive return on equity of 2.23%. The firm’s revenue for the quarter was down .5% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.04) earnings per share. Sell-side analysts forecast that Tyson Foods will post 2.33 earnings per share for the current year.

Insider Activity

In related news, Director Noel W. White sold 9,000 shares of Tyson Foods stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $53.75, for a total value of $483,750.00. Following the completion of the sale, the director now owns 31,115 shares in the company, valued at $1,672,431.25. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 2.05% of the company’s stock.

Hedge Funds Weigh In On Tyson Foods

Several hedge funds and other institutional investors have recently modified their holdings of TSN. Pzena Investment Management LLC lifted its holdings in Tyson Foods by 79.2% in the 1st quarter. Pzena Investment Management LLC now owns 10,550,056 shares of the company’s stock valued at $619,605,000 after acquiring an additional 4,662,332 shares during the last quarter. Wellington Management Group LLP lifted its position in shares of Tyson Foods by 6.2% in the fourth quarter. Wellington Management Group LLP now owns 10,335,646 shares of the company’s stock worth $555,541,000 after purchasing an additional 606,518 shares in the last quarter. FMR LLC raised its position in Tyson Foods by 16.1% during the third quarter. FMR LLC now owns 7,448,930 shares of the company’s stock valued at $376,096,000 after acquiring an additional 1,034,915 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in Tyson Foods by 0.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 6,647,913 shares of the company’s stock valued at $357,325,000 after acquiring an additional 49,540 shares in the last quarter. Finally, Northern Trust Corp grew its holdings in Tyson Foods by 2.6% during the third quarter. Northern Trust Corp now owns 5,228,277 shares of the company’s stock valued at $263,976,000 after purchasing an additional 134,778 shares during the last quarter. Institutional investors and hedge funds own 67.00% of the company’s stock.

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.