Piper Sandler Increases Tyson Foods (NYSE:TSN) Price Target to $57.00

Tyson Foods (NYSE:TSN) had its price objective hoisted by investment analysts at Piper Sandler from $55.00 to $57.00 in a report released on Tuesday, Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Piper Sandler’s target price points to a potential downside of 3.62% from the stock’s current price.

Several other brokerages have also recently commented on TSN. StockNews.com upgraded Tyson Foods from a “sell” rating to a “hold” rating in a report on Monday, January 22nd. Barclays upgraded Tyson Foods from an “underweight” rating to an “overweight” rating and increased their price target for the stock from $53.00 to $69.00 in a report on Tuesday, April 16th. Bank of America upgraded Tyson Foods from an “underperform” rating to a “neutral” rating and increased their price target for the stock from $47.00 to $62.00 in a report on Tuesday, February 6th. Citigroup increased their price target on Tyson Foods from $57.00 to $62.00 and gave the stock a “neutral” rating in a report on Wednesday, April 3rd. Finally, Stephens restated an “overweight” rating and set a $70.00 price target on shares of Tyson Foods in a report on Tuesday, February 6th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $60.60.

Tyson Foods Stock Performance

NYSE:TSN opened at $59.14 on Tuesday. The stock’s 50-day moving average is $57.89 and its 200-day moving average is $53.62. Tyson Foods has a 1-year low of $44.94 and a 1-year high of $62.04. The stock has a market cap of $21.07 billion, a P/E ratio of -23.94, a price-to-earnings-growth ratio of 0.49 and a beta of 0.74. The company has a current ratio of 1.49, a quick ratio of 0.67 and a debt-to-equity ratio of 0.46.

Tyson Foods (NYSE:TSN) last announced its earnings results on Monday, May 6th. The company reported $0.62 EPS for the quarter, beating the consensus estimate of $0.39 by $0.23. Tyson Foods had a positive return on equity of 2.23% and a negative net margin of 1.62%. The business had revenue of $13.07 billion for the quarter, compared to analysts’ expectations of $13.16 billion. During the same period in the prior year, the business posted ($0.04) earnings per share. The firm’s revenue was down .5% on a year-over-year basis. Equities research analysts anticipate that Tyson Foods will post 2.33 earnings per share for the current year.

Insider Transactions at Tyson Foods

In other news, Director Noel W. White sold 9,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $53.75, for a total transaction of $483,750.00. Following the transaction, the director now directly owns 31,115 shares of the company’s stock, valued at $1,672,431.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 2.05% of the stock is owned by insiders.

Institutional Investors Weigh In On Tyson Foods

A number of institutional investors and hedge funds have recently bought and sold shares of TSN. Pzena Investment Management LLC purchased a new stake in Tyson Foods in the 3rd quarter valued at $274,707,000. Capital Research Global Investors raised its position in Tyson Foods by 153.2% in the 4th quarter. Capital Research Global Investors now owns 4,827,091 shares of the company’s stock valued at $259,456,000 after buying an additional 2,920,479 shares during the last quarter. Norges Bank purchased a new stake in Tyson Foods in the 4th quarter valued at $89,286,000. Jacobs Levy Equity Management Inc. purchased a new stake in shares of Tyson Foods during the 3rd quarter valued at $77,574,000. Finally, Royal London Asset Management Ltd. increased its position in shares of Tyson Foods by 76.9% during the 4th quarter. Royal London Asset Management Ltd. now owns 3,369,708 shares of the company’s stock valued at $181,122,000 after purchasing an additional 1,465,139 shares during the last quarter. 67.00% of the stock is owned by hedge funds and other institutional investors.

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.