Tyson Foods (NYSE:TSN) Upgraded to Strong-Buy at BMO Capital Markets

Tyson Foods (NYSE:TSN) was upgraded by equities researchers at BMO Capital Markets from a “hold” rating to a “strong-buy” rating in a report released on Thursday,Zacks.com reports.

A number of other brokerages have also weighed in on TSN. Weiss Ratings restated a “hold (c-)” rating on shares of Tyson Foods in a report on Monday, December 29th. Piper Sandler increased their target price on Tyson Foods from $58.00 to $61.00 and gave the company a “neutral” rating in a report on Friday, December 12th. Santander initiated coverage on Tyson Foods in a research note on Thursday, September 25th. They issued a “neutral” rating on the stock. Bank of America lowered their price objective on Tyson Foods from $59.00 to $58.00 and set a “neutral” rating for the company in a research report on Wednesday, October 8th. Finally, Zacks Research upgraded Tyson Foods from a “strong sell” rating to a “hold” rating in a report on Thursday, October 30th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and fourteen have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Tyson Foods presently has an average rating of “Hold” and an average target price of $61.92.

Tyson Foods Stock Performance

Shares of Tyson Foods stock opened at $57.40 on Thursday. The business has a 50-day simple moving average of $56.34 and a 200-day simple moving average of $55.23. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.66 and a current ratio of 1.55. Tyson Foods has a one year low of $50.56 and a one year high of $64.36. The company has a market cap of $20.26 billion, a PE ratio of 43.15, a P/E/G ratio of 1.29 and a beta of 0.48.

Tyson Foods (NYSE:TSN) last issued its earnings results on Monday, November 10th. The company reported $1.15 earnings per share for the quarter, beating the consensus estimate of $0.85 by $0.30. Tyson Foods had a net margin of 0.87% and a return on equity of 7.95%. The firm had revenue of $13.86 billion for the quarter, compared to analysts’ expectations of $14.08 billion. During the same quarter last year, the company earned $0.92 earnings per share. The firm’s revenue was up 2.2% compared to the same quarter last year. On average, equities research analysts forecast that Tyson Foods will post 3.8 EPS for the current fiscal year.

Insider Transactions at Tyson Foods

In related news, Chairman John H. Tyson sold 100,301 shares of the firm’s stock in a transaction that occurred on Friday, November 28th. The stock was sold at an average price of $58.05, for a total transaction of $5,822,473.05. Following the transaction, the chairman owned 2,989,415 shares in the company, valued at $173,535,540.75. This trade represents a 3.25% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Curt Calaway sold 6,539 shares of Tyson Foods stock in a transaction that occurred on Tuesday, November 25th. The stock was sold at an average price of $57.19, for a total value of $373,965.41. Following the transaction, the chief financial officer directly owned 31,833 shares in the company, valued at approximately $1,820,529.27. This trade represents a 17.04% decrease in their position. The disclosure for this sale is available in the SEC filing. 2.11% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Tyson Foods

A number of hedge funds have recently modified their holdings of the business. CIBC Private Wealth Group LLC increased its holdings in shares of Tyson Foods by 10.6% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 1,862 shares of the company’s stock valued at $101,000 after acquiring an additional 179 shares during the period. Generali Investments Towarzystwo Funduszy Inwestycyjnych grew its position in Tyson Foods by 10.0% during the 3rd quarter. Generali Investments Towarzystwo Funduszy Inwestycyjnych now owns 2,200 shares of the company’s stock worth $119,000 after purchasing an additional 200 shares during the last quarter. DekaBank Deutsche Girozentrale increased its stake in Tyson Foods by 0.4% in the second quarter. DekaBank Deutsche Girozentrale now owns 56,200 shares of the company’s stock valued at $3,099,000 after purchasing an additional 206 shares during the period. Focus Partners Advisor Solutions LLC increased its stake in Tyson Foods by 1.2% in the third quarter. Focus Partners Advisor Solutions LLC now owns 18,074 shares of the company’s stock valued at $975,000 after purchasing an additional 210 shares during the period. Finally, Peddock Capital Advisors LLC raised its holdings in shares of Tyson Foods by 1.0% in the second quarter. Peddock Capital Advisors LLC now owns 21,152 shares of the company’s stock valued at $1,183,000 after buying an additional 217 shares during the last quarter. 67.00% of the stock is currently owned by hedge funds and other institutional investors.

About Tyson Foods

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.