Tyson Foods (NYSE:TSN) Upgraded at Piper Sandler

Tyson Foods (NYSE:TSN) was upgraded by research analysts at Piper Sandler from an “underweight” rating to a “neutral” rating in a research report issued on Tuesday, MarketBeat.com reports. The brokerage currently has a $58.00 price target on the stock. Piper Sandler’s price target indicates a potential upside of 1.62% from the company’s current price.

Several other equities research analysts have also recently commented on the stock. BMO Capital Markets boosted their price target on shares of Tyson Foods from $60.00 to $62.00 and gave the stock a “market perform” rating in a research report on Wednesday, November 13th. Citigroup cut their price objective on Tyson Foods from $63.00 to $61.00 and set a “neutral” rating on the stock in a report on Friday, January 31st. Stephens boosted their price objective on Tyson Foods from $57.00 to $60.00 and gave the stock an “equal weight” rating in a report on Wednesday, November 13th. Bank of America cut their price objective on Tyson Foods from $65.00 to $62.00 and set a “neutral” rating on the stock in a report on Tuesday, October 15th. Finally, HSBC upgraded Tyson Foods from a “reduce” rating to a “hold” rating in a report on Monday. Ten investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, Tyson Foods currently has a consensus rating of “Hold” and a consensus price target of $61.10.

Tyson Foods Price Performance

Shares of Tyson Foods stock opened at $57.07 on Tuesday. The company has a current ratio of 2.04, a quick ratio of 0.95 and a debt-to-equity ratio of 0.52. The company’s 50-day moving average price is $58.56 and its two-hundred day moving average price is $60.28. Tyson Foods has a 52 week low of $51.16 and a 52 week high of $66.88. The stock has a market cap of $20.31 billion, a PE ratio of 25.37, a price-to-earnings-growth ratio of 0.85 and a beta of 0.80.

Tyson Foods (NYSE:TSN) last issued its quarterly earnings results on Monday, February 3rd. The company reported $1.14 EPS for the quarter, topping the consensus estimate of $0.79 by $0.35. Tyson Foods had a net margin of 1.50% and a return on equity of 6.03%. The firm had revenue of $13.62 billion for the quarter, compared to analysts’ expectations of $13.46 billion. During the same period in the previous year, the business earned $0.69 earnings per share. Tyson Foods’s revenue for the quarter was up 2.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that Tyson Foods will post 3.52 EPS for the current fiscal year.

Insider Buying and Selling

In other Tyson Foods news, Chairman John H. Tyson sold 185,394 shares of the stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $63.77, for a total value of $11,822,575.38. Following the transaction, the chairman now directly owns 3,003,374 shares of the company’s stock, valued at $191,525,159.98. This represents a 5.81 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, General Counsel Adam S. Deckinger sold 10,500 shares of the stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $64.80, for a total transaction of $680,400.00. Following the completion of the transaction, the general counsel now directly owns 19,260 shares in the company, valued at approximately $1,248,048. This represents a 35.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 414,814 shares of company stock worth $26,450,955 over the last ninety days. Company insiders own 2.03% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in TSN. State Street Corp boosted its position in shares of Tyson Foods by 6.9% during the 3rd quarter. State Street Corp now owns 13,304,869 shares of the company’s stock worth $792,438,000 after acquiring an additional 859,351 shares in the last quarter. Pzena Investment Management LLC boosted its position in shares of Tyson Foods by 0.4% during the 3rd quarter. Pzena Investment Management LLC now owns 12,543,781 shares of the company’s stock worth $747,108,000 after acquiring an additional 54,217 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Tyson Foods by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 6,815,571 shares of the company’s stock worth $404,559,000 after acquiring an additional 87,054 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of Tyson Foods by 14.8% during the 4th quarter. Bank of New York Mellon Corp now owns 3,315,701 shares of the company’s stock worth $190,454,000 after acquiring an additional 427,582 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Tyson Foods by 1.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,357,941 shares of the company’s stock worth $140,439,000 after acquiring an additional 39,252 shares in the last quarter. Institutional investors and hedge funds own 67.00% of the company’s stock.

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.