Piper Sandler Upgrades Tyson Foods (NYSE:TSN) to “Neutral”

Tyson Foods (NYSE:TSN) was upgraded by equities researchers at Piper Sandler from an “underweight” rating to a “neutral” rating in a research note issued to investors on Tuesday,Benzinga reports. The brokerage presently has a $58.00 target price on the stock. Piper Sandler’s price objective would indicate a potential upside of 0.34% from the company’s previous close.

A number of other equities analysts have also recently issued reports on TSN. Citigroup decreased their target price on Tyson Foods from $63.00 to $61.00 and set a “neutral” rating on the stock in a report on Friday. Stephens lifted their target price 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. 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. Barclays lowered their target price 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, BMO Capital Markets boosted their target price on shares of Tyson Foods from $60.00 to $62.00 and gave the stock a “market perform” rating in a research report on Wednesday, November 13th. Nine research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $60.80.

Tyson Foods Price Performance

Shares of TSN opened at $57.80 on Tuesday. The firm has a market cap of $20.57 billion, a price-to-earnings ratio of 25.69, a PEG ratio of 0.85 and a beta of 0.80. The stock has a 50 day moving average of $58.82 and a 200-day moving average of $60.32. The company has a current ratio of 2.04, a quick ratio of 0.95 and a debt-to-equity ratio of 0.52. Tyson Foods has a 52 week low of $51.16 and a 52 week high of $66.88.

Tyson Foods (NYSE:TSN) last issued its earnings results on Monday, February 3rd. The company reported $1.14 EPS for the quarter, beating analysts’ consensus estimates of $0.79 by $0.35. Tyson Foods had a return on equity of 6.03% and a net margin of 1.50%. The company had revenue of $13.62 billion during the quarter, compared to the consensus estimate of $13.46 billion. During the same period in the previous year, the firm posted $0.69 earnings per share. Tyson Foods’s quarterly revenue was up 2.3% compared to the same quarter last year. As a group, analysts forecast that Tyson Foods will post 3.52 EPS for the current year.

Insider Buying and Selling at Tyson Foods

In related news, insider Wes Morris sold 22,783 shares of the firm’s stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $62.71, for a total transaction of $1,428,721.93. Following the transaction, the insider now directly owns 15,937 shares of the company’s stock, valued at approximately $999,409.27. This trade represents a 58.84 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman John H. Tyson sold 185,394 shares of the business’s stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $63.77, for a total transaction of $11,822,575.38. Following the completion of the transaction, the chairman now owns 3,003,374 shares of the company’s stock, valued at $191,525,159.98. The trade was a 5.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 414,814 shares of company stock worth $26,450,955. Corporate insiders own 2.03% of the company’s stock.

Institutional Investors Weigh In On Tyson Foods

Several institutional investors and hedge funds have recently added to or reduced their stakes in TSN. Crossmark Global Holdings Inc. boosted its holdings in shares of Tyson Foods by 0.9% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 19,482 shares of the company’s stock valued at $1,160,000 after acquiring an additional 172 shares in the last quarter. Signaturefd LLC increased its stake in shares of Tyson Foods by 6.9% in the third quarter. Signaturefd LLC now owns 2,727 shares of the company’s stock valued at $162,000 after buying an additional 175 shares during the period. Wealth Enhancement Advisory Services LLC lifted its position in shares of Tyson Foods by 1.7% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 10,800 shares of the company’s stock worth $643,000 after purchasing an additional 184 shares during the period. PNC Financial Services Group Inc. increased its position in shares of Tyson Foods by 0.4% during the third quarter. PNC Financial Services Group Inc. now owns 48,829 shares of the company’s stock worth $2,908,000 after buying an additional 189 shares during the period. Finally, Naples Global Advisors LLC lifted its holdings in Tyson Foods by 1.0% in the fourth quarter. Naples Global Advisors LLC now owns 19,794 shares of the company’s stock valued at $1,137,000 after buying an additional 202 shares during the period. 67.00% of the stock is currently owned by institutional investors.

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.