Tyson Foods (NYSE:TSN) Coverage Initiated at UBS Group

Equities researchers at UBS Group started coverage on shares of Tyson Foods (NYSE:TSN) in a research note issued to investors on Friday, MarketBeat Ratings reports. The brokerage set a “neutral” rating and a $62.00 price target on the stock. UBS Group’s price target would suggest a potential upside of 14.24% from the company’s previous close.

Several other equities analysts have also recently commented on TSN. Piper Sandler upped their target price on shares of Tyson Foods from $50.00 to $58.00 and gave the company an “underweight” rating in a research note on Wednesday, November 13th. Stephens increased their price target on shares of Tyson Foods from $57.00 to $60.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 13th. BMO Capital Markets lifted their price objective on Tyson Foods from $60.00 to $62.00 and gave the company a “market perform” rating in a report on Wednesday, November 13th. Citigroup dropped their target price on Tyson Foods from $63.00 to $60.00 and set a “neutral” rating for the company in a report on Wednesday, October 9th. Finally, Bank of America cut their price target on shares of Tyson Foods from $65.00 to $62.00 and set a “neutral” rating for the company in a report on Tuesday, October 15th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $60.80.

Tyson Foods Stock Performance

Shares of NYSE TSN opened at $54.27 on Friday. Tyson Foods has a 12 month low of $51.16 and a 12 month high of $66.88. The company has a market cap of $19.31 billion, a P/E ratio of 24.12, a P/E/G ratio of 0.91 and a beta of 0.81. The business’s 50 day moving average is $60.48 and its two-hundred day moving average is $60.40. The company has a quick ratio of 0.95, a current ratio of 2.04 and a debt-to-equity ratio of 0.52.

Insiders Place Their Bets

In related news, Chairman John H. Tyson sold 185,394 shares of the firm’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $63.77, for a total transaction of $11,822,575.38. Following the sale, the chairman now directly owns 3,003,374 shares in the company, valued at $191,525,159.98. This trade represents a 5.81 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Noel W. White sold 171,057 shares of the stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $63.70, for a total value of $10,896,330.90. Following the transaction, the director now owns 36,179 shares of the company’s stock, valued at approximately $2,304,602.30. This trade represents a 82.54 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 414,814 shares of company stock worth $26,450,955. Company insiders own 2.03% of the company’s stock.

Institutional Investors Weigh In On Tyson Foods

A number of institutional investors and hedge funds have recently made changes to their positions in TSN. JPMorgan Chase & Co. increased its position in shares of Tyson Foods by 44.8% in the third quarter. JPMorgan Chase & Co. now owns 1,140,309 shares of the company’s stock worth $67,917,000 after purchasing an additional 352,863 shares during the period. Mizuho Securities USA LLC increased its stake in Tyson Foods by 517.7% in the third quarter. Mizuho Securities USA LLC now owns 136,235 shares of the company’s stock valued at $8,114,000 after acquiring an additional 114,179 shares during the last quarter. Everence Capital Management Inc. acquired a new position in Tyson Foods during the fourth quarter valued at approximately $775,000. Y Intercept Hong Kong Ltd bought a new stake in Tyson Foods during the third quarter worth $1,036,000. Finally, The Manufacturers Life Insurance Company boosted its holdings in shares of Tyson Foods by 4.1% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 466,588 shares of the company’s stock valued at $27,790,000 after purchasing an additional 18,317 shares in the last quarter. 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.