Beyond Meat, Inc. (NASDAQ:BYND) Receives $6.67 Consensus Target Price from Brokerages

Beyond Meat, Inc. (NASDAQ:BYND) has earned an average recommendation of “Strong Sell” from the seven brokerages that are presently covering the company, Marketbeat.com reports. Five equities research analysts have rated the stock with a sell recommendation and two have issued a hold recommendation on the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $6.67.

BYND has been the topic of a number of research analyst reports. Mizuho raised their price target on Beyond Meat from $5.00 to $7.00 and gave the stock an “underperform” rating in a research report on Thursday, February 29th. BMO Capital Markets increased their target price on Beyond Meat from $7.00 to $10.00 and gave the stock a “market perform” rating in a research note on Wednesday, February 28th. Finally, Argus raised shares of Beyond Meat from a “sell” rating to a “hold” rating in a research note on Thursday, February 29th.

Hedge Funds Weigh In On Beyond Meat

A number of large investors have recently bought and sold shares of BYND. Raymond James & Associates lifted its position in shares of Beyond Meat by 47.6% in the first quarter. Raymond James & Associates now owns 22,013 shares of the company’s stock worth $1,063,000 after purchasing an additional 7,094 shares in the last quarter. US Bancorp DE boosted its position in Beyond Meat by 12.5% during the first quarter. US Bancorp DE now owns 5,137 shares of the company’s stock valued at $248,000 after purchasing an additional 571 shares during the last quarter. MetLife Investment Management LLC acquired a new position in Beyond Meat during the first quarter valued at approximately $164,000. Vontobel Holding Ltd. grew its stake in Beyond Meat by 27.3% in the first quarter. Vontobel Holding Ltd. now owns 33,205 shares of the company’s stock valued at $1,604,000 after purchasing an additional 7,111 shares in the last quarter. Finally, Blair William & Co. IL increased its position in shares of Beyond Meat by 14.7% during the 1st quarter. Blair William & Co. IL now owns 29,695 shares of the company’s stock worth $1,435,000 after purchasing an additional 3,796 shares during the last quarter. Institutional investors and hedge funds own 52.48% of the company’s stock.

Beyond Meat Stock Performance

Shares of NASDAQ:BYND opened at $8.28 on Friday. The company has a 50 day moving average price of $7.64 and a two-hundred day moving average price of $7.99. The company has a market capitalization of $535.55 million, a PE ratio of -1.58 and a beta of 2.44. Beyond Meat has a 52 week low of $5.58 and a 52 week high of $19.25.

Beyond Meat (NASDAQ:BYND) last announced its quarterly earnings results on Tuesday, February 27th. The company reported ($2.40) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.82) by ($1.58). The firm had revenue of $73.68 million for the quarter, compared to the consensus estimate of $66.66 million. The firm’s revenue for the quarter was down 7.8% compared to the same quarter last year. During the same period last year, the business earned ($1.05) earnings per share. On average, sell-side analysts forecast that Beyond Meat will post -2.46 earnings per share for the current year.

Beyond Meat Company Profile

Beyond Meat, Inc, a plant-based meat company, develops, manufactures, markets, and sells plant-based meat products in the United States and internationally. The company sells a range of plant-based meat products across the platforms of beef, pork, and poultry. It sells its products through grocery, mass merchandiser, club stores, and natural retailer channels, as well as various food-away-from-home channels, including restaurants, foodservice outlets, and schools.