Barclays Upgrades Tyson Foods (NYSE:TSN) to “Overweight”

Tyson Foods (NYSE:TSN) was upgraded by research analysts at Barclays from an “underweight” rating to an “overweight” rating in a note issued to investors on Tuesday, Marketbeat Ratings reports. The firm presently has a $69.00 price objective on the stock, up from their previous price objective of $53.00. Barclays‘s price objective would indicate a potential upside of 17.79% from the stock’s current price.

Several other research firms also recently weighed in on TSN. Bank of America raised shares of Tyson Foods from an “underperform” rating to a “neutral” rating and boosted their price target for the stock from $47.00 to $62.00 in a research note on Tuesday, February 6th. Piper Sandler boosted their price target on shares of Tyson Foods from $44.00 to $48.00 and gave the stock a “neutral” rating in a research note on Friday, January 26th. Stephens reissued an “overweight” rating and issued a $70.00 price target on shares of Tyson Foods in a research note on Tuesday, February 6th. StockNews.com raised shares of Tyson Foods from a “sell” rating to a “hold” rating in a research note on Monday, January 22nd. Finally, Citigroup boosted their price target on shares of Tyson Foods from $57.00 to $62.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 3rd. One equities research analyst has 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. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $58.80.

Tyson Foods Stock Performance

NYSE TSN opened at $58.58 on Tuesday. Tyson Foods has a 52-week low of $44.94 and a 52-week high of $63.28. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.67 and a current ratio of 1.49. The company has a market capitalization of $20.87 billion, a P/E ratio of -23.72, a P/E/G ratio of 0.46 and a beta of 0.77. The company has a fifty day moving average of $55.87 and a 200-day moving average of $52.32.

Tyson Foods (NYSE:TSN) last posted its quarterly earnings data on Monday, February 5th. The company reported $0.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.41 by $0.28. Tyson Foods had a negative net margin of 1.62% and a positive return on equity of 2.23%. The company had revenue of $13.32 billion during the quarter, compared to the consensus estimate of $13.34 billion. During the same period in the previous year, the firm posted $0.85 EPS. The firm’s revenue was up .4% compared to the same quarter last year. As a group, equities research analysts predict that Tyson Foods will post 2.33 EPS for the current fiscal year.

Insider Activity

In other news, Director Noel W. White sold 9,000 shares of the company’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $53.75, for a total transaction of $483,750.00. Following the completion of the transaction, the director now directly owns 31,115 shares of the company’s stock, valued at $1,672,431.25. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 2.05% of the company’s stock.

Hedge Funds Weigh In On Tyson Foods

Several hedge funds and other institutional investors have recently modified their holdings of TSN. Pzena Investment Management LLC purchased a new position in shares of Tyson Foods during the third quarter valued at about $274,707,000. Price T Rowe Associates Inc. MD increased its position in shares of Tyson Foods by 97.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 9,471,823 shares of the company’s stock valued at $561,869,000 after buying an additional 4,669,457 shares during the period. Capital Research Global Investors increased its position in shares of Tyson Foods by 153.2% during the fourth quarter. Capital Research Global Investors now owns 4,827,091 shares of the company’s stock valued at $259,456,000 after buying an additional 2,920,479 shares during the period. Vanguard Group Inc. increased its position in shares of Tyson Foods by 6.4% during the first quarter. Vanguard Group Inc. now owns 37,179,555 shares of the company’s stock valued at $3,332,404,000 after buying an additional 2,239,235 shares during the period. Finally, Bank of New York Mellon Corp increased its position in shares of Tyson Foods by 97.2% during the third quarter. Bank of New York Mellon Corp now owns 4,250,887 shares of the company’s stock valued at $214,627,000 after buying an additional 2,095,597 shares during the period. Hedge funds and other institutional investors own 67.00% of the company’s stock.

Tyson Foods Company Profile

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.