Tyson Foods (NYSE:TSN) has been pulled into an unusual controversy. The company’s Chief Financial Officer, John Tyson, who is also the son of the company’s chairman, was arrested on charges of intoxication and trespassing.
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The 32-year-old CFO was found sleeping in a stranger’s home in Fayetteville, AR, on Sunday, and was arrested and kept in custody for a few hours. On Monday, he issued an apology to the company, expressing his embarrassment.
Notably, Tyson Foods had overhauled its management less than two months earlier, and John Tyson’s appointment as a CFO was a part of this move. The incident may make investors doubt the credibility of the new leadership, which does not bode well for the company. Shares of Tyson Foods dipped slightly as the major U.S. stock indexes climbed.
John Tyson’s misconduct comes less than two months after a C-suite member of another food company, Beyond Meat (NASDAQ:BYND), was arrested for an intoxicated misdeed. The Chief Operating Officer of Beyond Meat was forced to leave the company after an unsophisticated altercation.
How Much is Tyson’s Stock Today?
Tyson stock ended Monday at $67.26, down 0.06%. The average target price on Wall Street for the stock is $83.86, which means there is 24.68% room for stock appreciation over the next year.
Analysts are cautious about Tyson Foods’ prospects, with a Hold consensus rating based on two Buys and six Holds.
