A number of other brokerages also recently issued reports on BYND. Goldman Sachs Group increased their price objective on Beyond Meat from $44.00 to $112.00 and gave the stock a “sell” rating in a research report on Monday, August 10th. ValuEngine downgraded Beyond Meat from a “buy” rating to a “hold” rating in a research report on Thursday. Sanford C. Bernstein increased their target price on Beyond Meat from $118.00 to $133.00 and gave the company a “positive” rating in a research note on Thursday, July 9th. Credit Suisse Group increased their target price on Beyond Meat from $90.00 to $142.00 and gave the company a “neutral” rating in a research note on Wednesday, June 17th. Finally, Oppenheimer assumed coverage on Beyond Meat in a research note on Thursday, July 30th. They set a “hold” rating on the stock. Eight equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and five have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $114.55.
Beyond Meat stock opened at $143.04 on Friday. Beyond Meat has a 12 month low of $48.18 and a 12 month high of $167.16. The company has a current ratio of 6.48, a quick ratio of 4.32 and a debt-to-equity ratio of 0.13. The business’s 50 day simple moving average is $128.26 and its 200 day simple moving average is $115.51. The company has a market cap of $8.63 billion, a price-to-earnings ratio of -1,788.00 and a beta of 2.67.
Beyond Meat (NASDAQ:BYND) last posted its earnings results on Tuesday, August 4th. The company reported ($0.02) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.02). The firm had revenue of $113.34 million for the quarter, compared to the consensus estimate of $99.35 million. Beyond Meat had a positive return on equity of 1.11% and a negative net margin of 1.18%. The business’s quarterly revenue was up 68.5% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.24) earnings per share. As a group, equities research analysts forecast that Beyond Meat will post 0.07 earnings per share for the current fiscal year.
In other news, CFO Mark Joseph Nelson sold 71,388 shares of the business’s stock in a transaction on Thursday, August 6th. The shares were sold at an average price of $133.06, for a total transaction of $9,498,887.28. Following the completion of the sale, the chief financial officer now owns 226,610 shares of the company’s stock, valued at approximately $30,152,726.60. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Charles Muth sold 10,000 shares of the business’s stock in a transaction on Tuesday, September 8th. The shares were sold at an average price of $125.00, for a total transaction of $1,250,000.00. Following the sale, the insider now directly owns 211,595 shares of the company’s stock, valued at approximately $26,449,375. The disclosure for this sale can be found here. In the last ninety days, insiders sold 136,393 shares of company stock valued at $18,055,010. 11.00% of the stock is currently owned by insiders.
Several institutional investors and hedge funds have recently added to or reduced their stakes in BYND. Envestnet Asset Management Inc. purchased a new stake in Beyond Meat in the 1st quarter worth $267,000. Janney Montgomery Scott LLC grew its holdings in Beyond Meat by 22.2% during the 1st quarter. Janney Montgomery Scott LLC now owns 5,358 shares of the company’s stock valued at $357,000 after purchasing an additional 975 shares during the last quarter. Comerica Bank bought a new position in Beyond Meat during the 1st quarter valued at about $511,000. BlackRock Inc. grew its holdings in Beyond Meat by 0.9% during the 1st quarter. BlackRock Inc. now owns 1,263,717 shares of the company’s stock valued at $84,162,000 after purchasing an additional 11,344 shares during the last quarter. Finally, American International Group Inc. grew its holdings in Beyond Meat by 274.8% during the 1st quarter. American International Group Inc. now owns 772 shares of the company’s stock valued at $51,000 after purchasing an additional 566 shares during the last quarter. Institutional investors own 31.45% of the company’s stock.
About Beyond Meat
Beyond Meat, Inc, a food company, manufactures, markets, and sells plant-based meat products in the United States and internationally. The company sells its products under the Beyond Beef, Beyond Chicken, The Beyond Burger, Beyond Meat, Beyond Sausage, Eat What You Love, and The Cookout Classic brand names.
Receive News & Ratings for Beyond Meat Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Beyond Meat and related companies with MarketBeat.com’s FREE daily email newsletter.