5 Undervalued Defensive Stocks For 2023

2. Tyson Foods, Inc. (NYSE:TSN)

PE Ratio as of January 27: 7.37

One of the major meat companies in the US, Tyson Foods, Inc. (NYSE:TSN) ranks 3rd in our list of undervalued defensive stocks for 2023. In the fourth quarter of 2022, Tyson Foods, Inc. (NYSE:TSN)’s adjusted EPS came in at $1.63 on $13.74 billion revenue, missing estimates of $1.72 EPS but beating forecasts of $13.49 billion for revenue. For 2023, Tyson Foods, Inc. (NYSE:TSN) said it expects profitability improvement as it prepares to cut costs.

As of the end of the third quarter, 35 hedge funds tracked by Insider Monkey had stakes in Tyson Foods, Inc. (NYSE:TSN).