Citigroup Lowers Tyson Foods (NYSE:TSN) Price Target to $60.00

Tyson Foods (NYSE:TSN) had its price objective lowered by research analysts at Citigroup from $63.00 to $60.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Citigroup’s target price would indicate a potential upside of 3.11% from the stock’s previous close.

TSN has been the topic of a number of other research reports. Stephens assumed coverage on Tyson Foods in a report on Thursday, October 3rd. They issued an “equal weight” rating and a $57.00 target price on the stock. Barclays lifted their price objective on Tyson Foods from $72.00 to $76.00 and gave the stock an “overweight” rating in a research note on Monday, September 9th. JPMorgan Chase & Co. boosted their target price on Tyson Foods from $61.00 to $63.00 and gave the company a “neutral” rating in a research report on Tuesday, August 6th. StockNews.com raised Tyson Foods from a “hold” rating to a “buy” rating in a research report on Tuesday, August 6th. Finally, Piper Sandler cut Tyson Foods from a “neutral” rating to an “underweight” rating and lowered their target price for the stock from $57.00 to $50.00 in a report on Wednesday, September 25th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $59.00.

Tyson Foods Stock Performance

Shares of TSN stock opened at $58.19 on Wednesday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.95 and a current ratio of 1.82. Tyson Foods has a fifty-two week low of $44.94 and a fifty-two week high of $66.88. The stock has a 50 day moving average price of $61.82 and a two-hundred day moving average price of $59.63. The company has a market capitalization of $20.77 billion, a P/E ratio of -32.75, a PEG ratio of 0.34 and a beta of 0.78.

Tyson Foods (NYSE:TSN) last issued its quarterly earnings results on Monday, August 5th. The company reported $0.87 earnings per share for the quarter, topping the consensus estimate of $0.65 by $0.22. Tyson Foods had a positive return on equity of 4.97% and a negative net margin of 0.01%. The company had revenue of $13.35 billion for the quarter, compared to analysts’ expectations of $13.21 billion. During the same period in the prior year, the firm earned $0.15 earnings per share. The firm’s revenue for the quarter was up 1.6% on a year-over-year basis. Analysts expect that Tyson Foods will post 2.82 earnings per share for the current year.

Institutional Trading of Tyson Foods

Large investors have recently added to or reduced their stakes in the stock. Pzena Investment Management LLC lifted its position in shares of Tyson Foods by 79.2% during the first quarter. Pzena Investment Management LLC now owns 10,550,056 shares of the company’s stock worth $619,605,000 after purchasing an additional 4,662,332 shares during the last quarter. Davis Selected Advisers acquired a new position in Tyson Foods in the second quarter worth approximately $177,439,000. Royal London Asset Management Ltd. boosted its stake in Tyson Foods by 76.9% in the 4th quarter. Royal London Asset Management Ltd. now owns 3,369,708 shares of the company’s stock worth $181,122,000 after purchasing an additional 1,465,139 shares during the period. Wellington Management Group LLP boosted its stake in Tyson Foods by 6.2% in the 4th 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 during the period. Finally, Jupiter Asset Management Ltd. purchased a new position in shares of Tyson Foods during the 2nd quarter valued at $29,537,000. 67.00% of the stock is currently owned by institutional investors and hedge funds.

About Tyson Foods

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.