BMO Capital Markets Upgrades Tyson Foods (NYSE:TSN) to “Outperform”

Tyson Foods (NYSE:TSN) was upgraded by investment analysts at BMO Capital Markets from a “market perform” rating to an “outperform” rating in a research report issued to clients and investors on Thursday, MarketBeat.com reports. The firm presently has a $67.00 price target on the stock, up from their prior price target of $60.00. BMO Capital Markets’ price target indicates a potential upside of 15.43% from the company’s previous close.

Other equities analysts also recently issued research reports about the company. Zacks Research raised Tyson Foods from a “strong sell” rating to a “hold” rating in a research report on Thursday, October 30th. Bank of America lowered their target price on shares of Tyson Foods from $59.00 to $58.00 and set a “neutral” rating for the company in a research note on Wednesday, October 8th. Santander assumed coverage on shares of Tyson Foods in a research note on Thursday, September 25th. They issued a “neutral” rating on the stock. Weiss Ratings reissued a “hold (c-)” rating on shares of Tyson Foods in a research report on Monday, December 29th. Finally, Piper Sandler raised their target price on shares of Tyson Foods from $58.00 to $61.00 and gave the stock a “neutral” rating in a research report on Friday, December 12th. Three investment analysts have rated the stock with a Buy rating and thirteen have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Tyson Foods currently has a consensus rating of “Hold” and an average price target of $61.91.

Tyson Foods Stock Performance

Tyson Foods stock opened at $58.05 on Thursday. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.55 and a quick ratio of 0.66. The firm has a market capitalization of $20.49 billion, a P/E ratio of 43.64, a price-to-earnings-growth ratio of 1.32 and a beta of 0.48. Tyson Foods has a 1-year low of $50.56 and a 1-year high of $64.36. The company’s 50-day moving average is $56.48 and its 200 day moving average is $55.25.

Tyson Foods (NYSE:TSN) last announced its earnings results on Monday, November 10th. The company reported $1.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.85 by $0.30. Tyson Foods had a return on equity of 7.95% and a net margin of 0.87%.The business had revenue of $13.86 billion during the quarter, compared to analyst estimates of $14.08 billion. During the same quarter in the previous year, the business earned $0.92 earnings per share. The company’s revenue for the quarter was up 2.2% compared to the same quarter last year. Research analysts forecast that Tyson Foods will post 3.8 EPS for the current year.

Insiders Place Their Bets

In other Tyson Foods news, CFO Curt Calaway sold 6,539 shares of Tyson Foods stock in a transaction dated Tuesday, November 25th. The stock was sold at an average price of $57.19, for a total value of $373,965.41. Following the transaction, the chief financial officer owned 31,833 shares in the company, valued at $1,820,529.27. The trade was a 17.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman John H. Tyson sold 100,301 shares of the business’s stock in a transaction dated Friday, November 28th. The stock was sold at an average price of $58.05, for a total transaction of $5,822,473.05. Following the completion of the transaction, the chairman owned 2,989,415 shares of the company’s stock, valued at $173,535,540.75. This represents a 3.25% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 2.11% of the company’s stock.

Institutional Investors Weigh In On Tyson Foods

Several institutional investors have recently added to or reduced their stakes in TSN. Norges Bank purchased a new stake in Tyson Foods during the 2nd quarter valued at about $246,055,000. Davis Selected Advisers lifted its holdings in shares of Tyson Foods by 91.4% during the second quarter. Davis Selected Advisers now owns 8,956,466 shares of the company’s stock worth $501,025,000 after purchasing an additional 4,276,884 shares during the period. AQR Capital Management LLC boosted its position in Tyson Foods by 76.1% in the second quarter. AQR Capital Management LLC now owns 5,006,787 shares of the company’s stock valued at $277,326,000 after buying an additional 2,164,160 shares during the last quarter. Invesco Ltd. increased its holdings in Tyson Foods by 36.0% in the 2nd quarter. Invesco Ltd. now owns 5,864,131 shares of the company’s stock worth $328,039,000 after buying an additional 1,550,812 shares during the period. Finally, Two Sigma Investments LP raised its position in Tyson Foods by 877.2% during the 3rd quarter. Two Sigma Investments LP now owns 1,373,370 shares of the company’s stock worth $74,574,000 after buying an additional 1,232,835 shares during the last quarter. Institutional investors and hedge funds own 67.00% of the company’s stock.

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.