Tyson Foods (NYSE:TSN) Price Target Lowered to $68.00 at Bank of America

Tyson Foods (NYSE:TSN) had its price target dropped by Bank of America from $70.00 to $68.00 in a research note issued on Thursday,Benzinga reports. The firm currently has a “neutral” rating on the stock. Bank of America‘s price objective points to a potential upside of 15.68% from the company’s current price.

Several other equities research analysts have also issued reports on the stock. Piper Sandler reiterated an “overweight” rating and issued a $78.00 price target (down from $80.00) on shares of Tyson Foods in a research note on Thursday, June 18th. Stephens raised their price objective on Tyson Foods from $65.00 to $70.00 and gave the company an “equal weight” rating in a report on Tuesday, May 5th. Mizuho started coverage on Tyson Foods in a research report on Thursday, March 26th. They issued an “outperform” rating and a $72.00 target price on the stock. JPMorgan Chase & Co. dropped their target price on Tyson Foods from $67.00 to $65.00 and set a “neutral” rating on the stock in a report on Tuesday, March 24th. Finally, Sanford C. Bernstein reduced their price target on Tyson Foods from $72.00 to $63.00 and set a “market perform” rating for the company in a research report on Thursday. Four analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. According to data from MarketBeat, Tyson Foods currently has an average rating of “Hold” and an average target price of $68.60.

Tyson Foods Stock Up 0.6%

NYSE:TSN traded up $0.35 during trading hours on Thursday, reaching $58.78. 283,783 shares of the stock were exchanged, compared to its average volume of 3,121,009. Tyson Foods has a twelve month low of $50.56 and a twelve month high of $69.48. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.83 and a quick ratio of 0.70. The firm has a 50 day moving average of $61.77 and a 200 day moving average of $61.84. The stock has a market cap of $20.70 billion, a PE ratio of 46.25, a PEG ratio of 1.16 and a beta of 0.40.

Tyson Foods (NYSE:TSN) last issued its quarterly earnings results on Monday, May 4th. The company reported $0.87 earnings per share for the quarter, topping the consensus estimate of $0.76 by $0.11. Tyson Foods had a net margin of 0.81% and a return on equity of 7.59%. The company had revenue of $13.65 billion during the quarter, compared to analysts’ expectations of $13.63 billion. During the same period last year, the business earned $0.92 EPS. The business’s quarterly revenue was up 4.4% on a year-over-year basis. On average, equities analysts expect that Tyson Foods will post 4.16 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of TSN. Meiji Yasuda Asset Management Co Ltd. raised its holdings in shares of Tyson Foods by 306.4% in the 3rd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 48,009 shares of the company’s stock valued at $2,607,000 after purchasing an additional 36,197 shares during the period. AIA Group Ltd increased its position in Tyson Foods by 78.8% during the third quarter. AIA Group Ltd now owns 51,197 shares of the company’s stock worth $2,780,000 after buying an additional 22,571 shares during the last quarter. Vinva Investment Management Ltd increased its position in Tyson Foods by 111.6% during the third quarter. Vinva Investment Management Ltd now owns 387,714 shares of the company’s stock worth $21,070,000 after buying an additional 204,482 shares during the last quarter. Perbak Capital Partners LLP bought a new stake in Tyson Foods in the third quarter valued at approximately $1,255,000. Finally, Everpar Advisors LLC lifted its position in shares of Tyson Foods by 27.2% in the fourth quarter. Everpar Advisors LLC now owns 81,243 shares of the company’s stock valued at $4,762,000 after buying an additional 17,353 shares during the last quarter. Institutional investors 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.