Citigroup Lowers Tyson Foods (NYSE:TSN) Price Target to $61.00

Tyson Foods (NYSE:TSN) had its target price reduced by equities researchers at Citigroup from $63.00 to $61.00 in a report issued on Friday. The brokerage presently has a “neutral” rating on the stock. Citigroup’s price objective suggests a potential upside of 8.03% from the company’s current price.

Several other research analysts have also issued reports on TSN. UBS Group started coverage on shares of Tyson Foods in a research report on Friday, January 10th. They issued a “neutral” rating and a $62.00 target price for the company. Piper Sandler increased their price objective on Tyson Foods from $50.00 to $58.00 and gave the company an “underweight” rating in a research report on Wednesday, November 13th. BMO Capital Markets boosted their target price on Tyson Foods from $60.00 to $62.00 and gave the stock a “market perform” rating in a research report on Wednesday, November 13th. Barclays reduced their price target on shares of Tyson Foods from $76.00 to $75.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 21st. Finally, Stephens upped their price objective on shares of Tyson Foods from $57.00 to $60.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 13th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, Tyson Foods presently has a consensus rating of “Hold” and an average target price of $60.80.

Tyson Foods Price Performance

Tyson Foods stock traded down $0.30 during mid-day trading on Friday, hitting $56.47. 1,317,023 shares of the company traded hands, compared to its average volume of 2,280,868. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.95 and a current ratio of 2.04. Tyson Foods has a one year low of $51.16 and a one year high of $66.88. The stock has a market cap of $20.09 billion, a price-to-earnings ratio of 25.10, a price-to-earnings-growth ratio of 0.85 and a beta of 0.81. The stock has a fifty day moving average price of $58.96 and a 200-day moving average price of $60.32.

Insider Transactions at Tyson Foods

In other news, Director Noel W. White sold 171,057 shares of the stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $63.70, for a total value of $10,896,330.90. Following the completion of the transaction, the director now owns 36,179 shares of the company’s stock, valued at approximately $2,304,602.30. This represents a 82.54 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman John H. Tyson sold 185,394 shares of Tyson Foods stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $63.77, for a total value of $11,822,575.38. Following the sale, the chairman now owns 3,003,374 shares in the company, valued at $191,525,159.98. This represents a 5.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 414,814 shares of company stock worth $26,450,955. Company insiders own 2.03% of the company’s stock.

Hedge Funds Weigh In On Tyson Foods

Several institutional investors and hedge funds have recently added to or reduced their stakes in TSN. Catalyst Capital Advisors LLC grew its stake in shares of Tyson Foods by 56.1% in the 3rd quarter. Catalyst Capital Advisors LLC now owns 584 shares of the company’s stock worth $35,000 after buying an additional 210 shares during the last quarter. Brooklyn Investment Group boosted its holdings in Tyson Foods by 2,478.3% in the fourth quarter. Brooklyn Investment Group now owns 593 shares of the company’s stock worth $34,000 after acquiring an additional 570 shares in the last quarter. Harvest Fund Management Co. Ltd purchased a new stake in shares of Tyson Foods in the third quarter worth $36,000. ST Germain D J Co. Inc. bought a new position in shares of Tyson Foods during the fourth quarter valued at $42,000. Finally, Thurston Springer Miller Herd & Titak Inc. raised its position in shares of Tyson Foods by 301.6% in the 3rd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 747 shares of the company’s stock worth $44,000 after purchasing an additional 561 shares during the last quarter. Hedge funds and other institutional investors own 67.00% of the company’s stock.

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.