#3 - Tyson Foods (NYSE:TSN)
Where’s the beef? Sorry, couldn’t resist. But meat prices continue to be on the rise as grocery chains are continuing to find it hard to keep up with demand. Tyson Foods (NYSE:TSN) makes this list because they produce two items: hot dogs and bacon that are projected to be in short supply as the economy reopens.
The reason is simple. President Biden was right when he was saying Americans could gather for cookouts. In fact, they’re already doing so and that trend will be likely to continue as the northern states enter the warmer summer months. Tyson has been raising wages to help incentivize workers to keep up with demand. However, the company should be able to pass along those costs to consumers at least for the remainder of the grilling season.
TSN stock is up 25% this year but the pace of growth has slowed in the last month. Opportunistic investors can use this consolidation as an opportunity to grab more shares for the next leg up.
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.
Read More - Current Price
- $57.17
- Consensus Rating
- Hold
- Ratings Breakdown
- 2 Buy Ratings, 6 Hold Ratings, 1 Sell Ratings.
- Consensus Price Target
- $59.20 (3.6% Upside)
