Bank of America Issues Pessimistic Forecast for Tyson Foods (NYSE:TSN) Stock Price

Tyson Foods (NYSE:TSN) had its price objective cut by stock analysts at Bank of America from $70.00 to $68.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Bank of America‘s target price indicates a potential upside of 15.68% from the stock’s current price.

Several other brokerages have also weighed in on TSN. BMO Capital Markets restated an “outperform” rating on shares of Tyson Foods in a report on Tuesday, May 5th. Sanford C. Bernstein dropped their target price on shares of Tyson Foods from $72.00 to $63.00 and set a “market perform” rating for the company in a research report on Thursday. Mizuho assumed coverage on Tyson Foods in a research note on Thursday, March 26th. They issued an “outperform” rating and a $72.00 price target on the stock. Wall Street Zen lowered Tyson Foods from a “buy” rating to a “hold” rating in a research report on Saturday, June 20th. Finally, Stephens lifted their price objective on Tyson Foods from $65.00 to $70.00 and gave the stock an “equal weight” rating in a research note on Tuesday, May 5th. Four investment analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. According to data from MarketBeat, Tyson Foods has a consensus rating of “Hold” and a consensus price target of $68.60.

Tyson Foods Trading Up 0.6%

TSN stock traded up $0.35 during midday trading on Thursday, reaching $58.78. The stock had a trading volume of 283,783 shares, compared to its average volume of 3,121,009. The business has a fifty day simple moving average of $61.77 and a two-hundred day simple moving average of $61.84. The company has a quick ratio of 0.70, a current ratio of 1.83 and a debt-to-equity ratio of 0.44. The firm has a market cap of $20.70 billion, a price-to-earnings ratio of 46.25, a PEG ratio of 1.16 and a beta of 0.40. Tyson Foods has a twelve month low of $50.56 and a twelve month high of $69.48.

Tyson Foods (NYSE:TSN) last announced its quarterly earnings data 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. The firm had revenue of $13.65 billion during the quarter, compared to analysts’ expectations of $13.63 billion. Tyson Foods had a return on equity of 7.59% and a net margin of 0.81%.The company’s quarterly revenue was up 4.4% compared to the same quarter last year. During the same period in the previous year, the business posted $0.92 EPS. As a group, research analysts expect that Tyson Foods will post 4.16 EPS for the current fiscal year.

Hedge Funds Weigh In On Tyson Foods

Hedge funds and other institutional investors have recently made changes to their positions in the company. Meiji Yasuda Asset Management Co Ltd. grew its position 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 lifted its stake in Tyson Foods by 78.8% in the third quarter. AIA Group Ltd now owns 51,197 shares of the company’s stock valued at $2,780,000 after buying an additional 22,571 shares in the last quarter. Vinva Investment Management Ltd boosted its holdings in shares of Tyson Foods by 111.6% in the third quarter. Vinva Investment Management Ltd now owns 387,714 shares of the company’s stock valued at $21,070,000 after buying an additional 204,482 shares during the period. Everpar Advisors LLC increased its position in shares of Tyson Foods by 27.2% during the fourth quarter. Everpar Advisors LLC now owns 81,243 shares of the company’s stock worth $4,762,000 after acquiring an additional 17,353 shares in the last quarter. Finally, Perbak Capital Partners LLP bought a new stake in shares of Tyson Foods during the third quarter worth $1,255,000. 67.00% of the stock is owned by institutional investors.

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.