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

Tyson Foods (NYSE:TSN) had its price target dropped by investment analysts at HSBC from $74.00 to $69.00 in a research report issued to clients and investors on Wednesday,MarketScreener (Pasted) reports. The brokerage currently has a “hold” rating on the stock. HSBC’s price target points to a potential upside of 16.21% from the stock’s current price.

Several other research analysts also recently commented on the stock. Weiss Ratings downgraded shares of Tyson Foods from a “hold (c+)” rating to a “hold (c)” rating in a report on Thursday, July 9th. BMO Capital Markets reaffirmed an “outperform” rating on shares of Tyson Foods in a research report on Tuesday, May 5th. Wall Street Zen downgraded shares of Tyson Foods from a “buy” rating to a “hold” rating in a report on Saturday, June 20th. Stephens lifted their target price on shares of Tyson Foods from $65.00 to $70.00 and gave the stock an “equal weight” rating in a research note on Tuesday, May 5th. Finally, Sanford C. Bernstein decreased their target price on shares of Tyson Foods from $72.00 to $63.00 and set a “market perform” rating on the stock in a report on Thursday, July 2nd. Four investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat, Tyson Foods has a consensus rating of “Hold” and an average price target of $70.67.

Tyson Foods Price Performance

Shares of TSN stock traded down $1.27 during trading on Wednesday, hitting $59.38. The company had a trading volume of 1,784,084 shares, compared to its average volume of 3,090,153. 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’s 50-day moving average is $58.59 and its two-hundred day moving average is $61.88. Tyson Foods has a 52 week low of $50.56 and a 52 week high of $69.48. The stock has a market capitalization of $20.91 billion, a price-to-earnings ratio of 46.80, a price-to-earnings-growth ratio of 1.27 and a beta of 0.40.

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

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in TSN. City Holding Co. acquired a new stake in shares of Tyson Foods in the fourth quarter valued at approximately $29,000. Cary Street Partners Investment Advisory LLC increased its stake in Tyson Foods by 62.3% in the 4th 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 in the last quarter. Ascentis Independent Advisors acquired a new stake in shares of Tyson Foods during the first quarter valued at approximately $30,000. Basecamp Wealth Advisors LLC lifted its holdings in shares of Tyson Foods by 272.8% in the first quarter. Basecamp Wealth Advisors LLC now owns 466 shares of the company’s stock valued at $30,000 after purchasing an additional 341 shares in the last quarter. Finally, 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 worth $31,000 after acquiring an additional 364 shares in the last quarter. Institutional investors and hedge funds own 67.00% of the company’s stock.

About Tyson Foods

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.