Stock Market Sell-Off: Is Tyson a Buy?
With the S&P 500 lower to the tune of 9% just since last month's high and down 17% year to date, it's not a stretch to say things have been lousy for investors of late. They've been even worse for owners of Tyson Foods (NYSE: TSN). Shares of the chicken and pork producer are off more than 26% from their April peak, reaching a new 52-week low earlier this month. Blame a combination of supply chain woes, logistics headaches, and market-wide malaise.
Forward-thinking investors eying this stock as a prospective purchase aren't wrong, though. Indeed, taking that step here in spite of the bearish rhetoric could be a brilliant move. Here's why.
Consumers are buying less beef due its soaring cost, opting for more affordable chicken and pork (although the prices for all three proteins are well up from year-ago levels). The shift plays right into Tyson's hand, in that it sells all three.
Source Fool.com
