Tyson Foods (NYSE:TSN) Given New $58.00 Price Target at Bank of America

Key Points

• Bank of America has lowered its price target for Tyson Foods from $59.00 to $58.00, maintaining a "neutral" rating on the stock, which suggests a potential upside of 10.71% from its current price.
• Tyson Foods reported $0.91 earnings per share for its latest quarter, surpassing analysts' expectations of $0.72 and demonstrating a 4.0% increase in revenue compared to the same quarter last year.
• The company's Board of Directors has authorized a share buyback plan allowing for the repurchase of 43 million shares, indicating management's belief that the stock is currently undervalued.

Tyson Foods (NYSE:TSN - Get Free Report) had its price target cut by research analysts at Bank of America from $59.00 to $58.00 in a research note issued on Wednesday,Benzinga reports. The brokerage currently has a "neutral" rating on the stock. Bank of America's target price would suggest a potential upside of 10.71% from the company's current price.

Other research analysts also recently issued research reports about the company. Santander began coverage on Tyson Foods in a research note on Thursday, September 25th. They set a "neutral" rating for the company. The Goldman Sachs Group assumed coverage on Tyson Foods in a research report on Monday, June 23rd. They set a "buy" rating and a $67.00 price target on the stock. JP Morgan Cazenove reduced their price target on Tyson Foods from $61.00 to $60.00 and set a "neutral" rating for the company in a research report on Monday, July 7th. Weiss Ratings reissued a "hold (c)" rating on shares of Tyson Foods in a research note on Wednesday. Finally, JPMorgan Chase & Co. started coverage on Tyson Foods in a report on Wednesday, August 20th. They issued a "neutral" rating and a $60.00 price target on the stock. Two equities research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $60.92.

Tyson Foods Trading Down 3.4%

TSN stock traded down $1.82 during trading on Wednesday, hitting $52.39. The company had a trading volume of 3,414,361 shares, compared to its average volume of 2,713,016. The stock has a market cap of $18.64 billion, a PE ratio of 23.81, a PEG ratio of 0.71 and a beta of 0.57. Tyson Foods has a one year low of $51.85 and a one year high of $65.95. The business has a 50-day moving average of $55.38 and a 200-day moving average of $56.54. The company has a current ratio of 1.73, a quick ratio of 0.78 and a debt-to-equity ratio of 0.44.

Tyson Foods (NYSE:TSN - Get Free Report) last posted its quarterly earnings results on Monday, August 4th. The company reported $0.91 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.72 by $0.19. The firm had revenue of $13.88 billion for the quarter, compared to analysts' expectations of $13.54 billion. Tyson Foods had a return on equity of 7.49% and a net margin of 1.45%.The company's revenue for the quarter was up 4.0% compared to the same quarter last year. During the same period in the prior year, the business earned $0.87 EPS. Tyson Foods has set its FY 2025 guidance at EPS. Research analysts predict that Tyson Foods will post 3.8 earnings per share for the current fiscal year.

Tyson Foods announced that its Board of Directors has authorized a share buyback plan on Thursday, August 7th that allows the company to repurchase 43,000,000 outstanding shares. This repurchase authorization allows the company to reacquire shares of its stock through open market purchases. Shares repurchase plans are often a sign that the company's management believes its shares are undervalued.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Allworth Financial LP grew its stake in shares of Tyson Foods by 12.6% during the 1st quarter. Allworth Financial LP now owns 1,705 shares of the company's stock valued at $105,000 after buying an additional 191 shares during the period. Horizon Investments LLC increased its stake in shares of Tyson Foods by 5.1% during the first quarter. Horizon Investments LLC now owns 4,111 shares of the company's stock valued at $262,000 after acquiring an additional 201 shares during the period. Independent Advisor Alliance boosted its stake in Tyson Foods by 2.3% in the 1st quarter. Independent Advisor Alliance now owns 9,100 shares of the company's stock worth $581,000 after purchasing an additional 204 shares during the period. DekaBank Deutsche Girozentrale boosted its stake in shares of Tyson Foods by 0.4% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 56,200 shares of the company's stock valued at $3,099,000 after buying an additional 206 shares during the period. Finally, Cornerstone Wealth Management LLC lifted its stake in shares of Tyson Foods by 0.6% in the 1st quarter. Cornerstone Wealth Management LLC now owns 35,257 shares of the company's stock valued at $2,250,000 after purchasing an additional 208 shares during the last quarter. 67.00% of the stock is currently owned by institutional investors and hedge funds.

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.

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