Tyson Foods (NYSE:TSN) Raised to "Overweight" at JPMorgan Chase & Co.

Key Points

• JPMorgan upgraded Tyson Foods to “overweight” from “neutral” and set a $63 price target, implying approximately 20.66% upside from the prior close.
• Analyst sentiment remains mixed: Tyson has a consensus “hold” rating and an average price target of $67.89, with five buy ratings, seven holds and one sell rating.
• Tyson’s latest quarter met EPS expectations at $0.99, while revenue of $13.87 billion fell short of consensus and declined slightly year over year; institutional investors own approximately 67% of the stock.

Tyson Foods (NYSE:TSN - Get Free Report) was upgraded by research analysts at JPMorgan Chase & Co. from a "neutral" rating to an "overweight" rating in a research note issued to investors on Friday, Briefing.com reports. The firm currently has a $63.00 price target on the stock. JPMorgan Chase & Co.'s target price indicates a potential upside of 20.66% from the company's previous close.

Other analysts have also recently issued reports about the stock. Bank of America cut their price target on shares of Tyson Foods from $70.00 to $68.00 and set a "neutral" rating on the stock in a report on Thursday, July 2nd. Weiss Ratings downgraded shares of Tyson Foods from a "hold (c+)" rating to a "hold (c)" rating in a research report on Thursday, July 9th. Piper Sandler cut their target price on shares of Tyson Foods from $78.00 to $66.00 and set an "overweight" rating on the stock in a research note on Thursday, September 10th. Sanford C. Bernstein reduced their price target on shares of Tyson Foods from $72.00 to $63.00 and set a "market perform" rating on the stock in a research report on Thursday, July 2nd. Finally, Zacks Research downgraded Tyson Foods from a "hold" rating to a "strong sell" rating in a research note on Thursday, August 6th. Five analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $67.89.

Tyson Foods Trading Up 0.2%

Shares of TSN opened at $52.21 on Friday. Tyson Foods has a one year low of $50.56 and a one year high of $69.48. The stock has a 50-day moving average price of $56.52 and a 200 day moving average price of $60.03. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.55 and a current ratio of 1.43. The company has a market capitalization of $18.37 billion, a P/E ratio of 32.23, a P/E/G ratio of 0.88 and a beta of 0.38.

Tyson Foods (NYSE:TSN - Get Free Report) last posted its quarterly earnings data on Monday, August 3rd. The company reported $0.99 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.99. The company had revenue of $13.87 billion for the quarter, compared to the consensus estimate of $14.07 billion. Tyson Foods had a return on equity of 7.77% and a net margin of 1.03%.Tyson Foods's revenue for the quarter was down .1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.91 EPS. Sell-side analysts forecast that Tyson Foods will post 3.65 EPS for the current fiscal year.

Hedge Funds Weigh In On Tyson Foods

Large investors have recently bought and sold shares of the business. Pzena Investment Management LLC raised its holdings in Tyson Foods by 12.1% during the 1st quarter. Pzena Investment Management LLC now owns 17,155,713 shares of the company's stock worth $1,099,167,000 after buying an additional 1,845,200 shares during the period. Norges Bank purchased a new position in shares of Tyson Foods in the fourth quarter worth approximately $308,297,000. Life Cycle Investment Partners Ltd purchased a new position in shares of Tyson Foods in the fourth quarter worth approximately $165,220,000. Bank of America Corp DE raised its holdings in shares of Tyson Foods by 17.8% during the first quarter. Bank of America Corp DE now owns 1,610,663 shares of the company's stock valued at $103,195,000 after acquiring an additional 243,060 shares during the period. Finally, Quantinno Capital Management LP lifted its position in shares of Tyson Foods by 5.2% in the 1st quarter. Quantinno Capital Management LP now owns 1,282,438 shares of the company's stock valued at $82,166,000 after acquiring an additional 63,885 shares in the last quarter. Institutional investors own 67.00% of the company's stock.

About Tyson Foods

Tyson Foods, Inc is a food company that produces and markets protein-based foods for retail, foodservice and industrial customers. Its principal businesses include chicken, beef, pork and prepared foods, with products ranging from fresh and frozen meats to ready-to-eat and ready-to-prepare meals.

The company sells products under brands including Tyson, Jimmy Dean, Hillshire Farm, Ball Park, Wright, Aidells and State Fair, as well as private-label offerings. Tyson Foods also supplies restaurants, schools, hospitals and other institutional customers, and operates processing, distribution and related food production facilities in the United States and select international markets.

Tyson Foods traces its origins to 1935, when John W.

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