Tyson Foods (NYSE:TSN) Price Target Lowered to $69.00 at HSBC

Key Points

• HSBC lowered Tyson Foods’ price target from $74 to $69 while maintaining a “hold” rating, implying roughly 16% upside from the stock’s current price.
• Analyst sentiment remains cautious: Tyson has an average “Hold” rating and a consensus price target of $70.67, with several firms recently reducing their targets.
• Tyson shares fell 2% to $59.45 in midday trading. The company’s latest quarterly results exceeded expectations, with adjusted earnings of $0.87 per share and revenue of $13.65 billion.

Tyson Foods (NYSE:TSN - Get Free Report) had its price target reduced by equities research analysts at HSBC from $74.00 to $69.00 in a report issued on Wednesday,MarketScreener (Pasted) reports. The firm currently has a "hold" rating on the stock. HSBC's price target suggests a potential upside of 16.07% from the company's current price.

A number of other research analysts also recently issued reports on TSN. Sanford C. Bernstein decreased their price objective on Tyson Foods from $72.00 to $63.00 and set a "market perform" rating for the company in a report on Thursday, July 2nd. Bank of America reduced their price target on Tyson Foods from $70.00 to $68.00 and set a "neutral" rating for the company in a research report on Thursday, July 2nd. JPMorgan Chase & Co. cut their price objective on shares of Tyson Foods from $71.00 to $65.00 and set a "neutral" rating on the stock in a research report on Tuesday, July 14th. BMO Capital Markets restated an "outperform" rating on shares of Tyson Foods in a report on Tuesday, May 5th. Finally, Piper Sandler reiterated an "overweight" rating and issued a $78.00 price target (down from $80.00) on shares of Tyson Foods in a research note on Thursday, June 18th. Four investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $70.67.

Tyson Foods Stock Down 2.0%

Shares of NYSE:TSN traded down $1.20 during midday trading on Wednesday, reaching $59.45. 1,648,449 shares of the company were exchanged, compared to its average volume of 3,089,198. Tyson Foods has a fifty-two week low of $50.56 and a fifty-two week high of $69.48. The company has a quick ratio of 0.70, a current ratio of 1.83 and a debt-to-equity ratio of 0.44. The stock has a fifty day simple moving average of $58.59 and a two-hundred day simple moving average of $61.88. The firm has a market cap of $20.93 billion, a PE ratio of 46.75, a P/E/G ratio of 1.27 and a beta of 0.40.

Tyson Foods (NYSE:TSN - Get Free Report) last announced its earnings results on Monday, May 4th. The company reported $0.87 earnings per share for the quarter, topping analysts' consensus estimates of $0.76 by $0.11. The firm had revenue of $13.65 billion during the quarter, compared to analyst estimates of $13.63 billion. Tyson Foods had a net margin of 0.81% and a return on equity of 7.59%. The company's revenue for the quarter was up 4.4% compared to the same quarter last year. During the same period in the prior year, the business earned $0.92 EPS. As a group, sell-side analysts forecast that Tyson Foods will post 4.08 earnings per share for the current year.

Hedge Funds Weigh In On Tyson Foods

A number of institutional investors have recently added to or reduced their stakes in TSN. Ascentis Independent Advisors bought a new position in shares of Tyson Foods in the 1st quarter valued at about $30,000. Basecamp Wealth Advisors LLC lifted its stake in Tyson Foods by 272.8% in the 1st quarter. Basecamp Wealth Advisors LLC now owns 466 shares of the company's stock valued at $30,000 after purchasing an additional 341 shares during the last quarter. Cedar Mountain Advisors LLC lifted its stake in Tyson Foods by 293.5% in the 1st quarter. Cedar Mountain Advisors LLC now owns 488 shares of the company's stock valued at $31,000 after purchasing an additional 364 shares during the last quarter. City Holding Co. bought a new position in Tyson Foods during the fourth quarter worth about $29,000. Finally, Cary Street Partners Investment Advisory LLC grew its holdings in Tyson Foods by 62.3% during the fourth quarter. Cary Street Partners Investment Advisory LLC now owns 516 shares of the company's stock worth $30,000 after purchasing an additional 198 shares during the period. 67.00% of the stock is currently owned by institutional investors and hedge funds.

Tyson Foods Company Profile

Tyson Foods, Inc NYSE: TSN is a multinational food company primarily engaged in the production, processing and marketing of protein-based and prepared food products. Founded in 1935 and headquartered in Springdale, Arkansas, the company is one of the world's largest processors of chicken, beef and pork. Its operations span live animal procurement and farming relationships through slaughter, further processing and distribution, supplying raw protein and value-added prepared foods to retail, foodservice and industrial customers.

The company's product portfolio covers fresh and frozen meats, branded and private-label prepared foods, and a range of value-added items such as ready-to-eat and ready-to-cook meals, snack and sandwich meats.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.