In this article, we discuss 5 consumer stocks that analysts are bearish on as recession begins. If you want to see more stocks on this list, check out Analysts are Bearish on These 10 Consumer Stocks as Recession Begins.
5. Tyson Foods, Inc. (NYSE:TSN)
Number of Hedge Fund Holders: 45
Tyson Foods, Inc. (NYSE:TSN) is an American food company that operates worldwide. The company has four segments – Beef, Pork, Chicken, and Prepared Foods. On July 1, Piper Sandler analyst Michael Lavery lowered the price target on Tyson Foods, Inc. (NYSE:TSN) to $79 from $85 and reaffirmed an Underweight rating on the shares. The analyst said that Tyson Foods, Inc. (NYSE:TSN)’s short-term momentum in chicken will be completely negated by reduced margin forecasts in beef and pork. Greater feed costs have resulted in lower grade cattle, along with a drought and soaring grain costs that could possibly drive further liquidation in the short-term, giving way to supply constraints in 2023, the analyst told investors in a research note.
According to Insider Monkey’s Q1 data, 45 hedge funds were bullish on Tyson Foods, Inc. (NYSE:TSN), up from 36 funds in the preceding quarter. Donald Yacktman’s Yacktman Asset Management is the leading shareholder of the company, with 2.91 million shares worth approximately $261 million.