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

Tyson Foods (NYSE:TSN) had its target price cut by equities 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 currently has a “neutral” rating on the stock. Citigroup’s price target would suggest a potential upside of 2.95% from the company’s previous close.

A number of other research analysts also recently commented on the stock. Piper Sandler downgraded shares of Tyson Foods from a “neutral” rating to an “underweight” rating and lowered their price target for the company from $57.00 to $50.00 in a report on Wednesday, September 25th. BMO Capital Markets raised their price objective on Tyson Foods from $58.00 to $60.00 and gave the company a “market perform” rating in a research note on Tuesday, August 6th. Stephens initiated coverage on Tyson Foods in a research report on Thursday, October 3rd. They issued an “equal weight” rating and a $57.00 price target for the company. Barclays lifted their price target on shares of Tyson Foods from $72.00 to $76.00 and gave the stock an “overweight” rating in a research note on Monday, September 9th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Tyson Foods from $61.00 to $63.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 6th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $59.00.

Tyson Foods Price Performance

NYSE TSN traded down $0.01 during trading on Wednesday, hitting $58.28. 1,551,326 shares of the stock traded hands, compared to its average volume of 2,495,808. The company has a market capitalization of $20.74 billion, a P/E ratio of -32.74, a price-to-earnings-growth ratio of 0.34 and a beta of 0.78. Tyson Foods has a 12-month low of $44.94 and a 12-month high of $66.88. The firm has a 50-day simple moving average of $61.87 and a 200-day simple moving average of $59.64. The company has a quick ratio of 0.95, a current ratio of 1.82 and a debt-to-equity ratio of 0.53.

Tyson Foods (NYSE:TSN) last posted its earnings results on Monday, August 5th. The company reported $0.87 earnings per share for the quarter, beating analysts’ consensus estimates of $0.65 by $0.22. The firm had revenue of $13.35 billion during the quarter, compared to analyst estimates of $13.21 billion. Tyson Foods had a negative net margin of 0.01% and a positive return on equity of 4.97%. Tyson Foods’s revenue for the quarter was up 1.6% compared to the same quarter last year. During the same period last year, the firm posted $0.15 earnings per share. As a group, analysts predict that Tyson Foods will post 2.82 EPS for the current year.

Hedge Funds Weigh In On Tyson Foods

Hedge funds and other institutional investors have recently made changes to their positions in the company. Pzena Investment Management LLC raised its stake in Tyson Foods by 79.2% in the first quarter. Pzena Investment Management LLC now owns 10,550,056 shares of the company’s stock worth $619,605,000 after buying an additional 4,662,332 shares in the last quarter. Davis Selected Advisers bought a new position in Tyson Foods in the second quarter worth about $177,439,000. Royal London Asset Management Ltd. lifted its position in shares of Tyson Foods by 76.9% during the fourth quarter. Royal London Asset Management Ltd. now owns 3,369,708 shares of the company’s stock valued at $181,122,000 after buying an additional 1,465,139 shares during the last quarter. Wellington Management Group LLP boosted its holdings in shares of Tyson Foods by 6.2% in the 4th quarter. Wellington Management Group LLP now owns 10,335,646 shares of the company’s stock valued at $555,541,000 after buying an additional 606,518 shares in the last quarter. Finally, Jupiter Asset Management Ltd. purchased a new position in shares of Tyson Foods in the 2nd quarter worth approximately $29,537,000. Institutional investors 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.