Zweig DiMenna Associates LLC Cuts Stock Position in Beyond Meat, Inc. (NASDAQ:BYND)

Zweig DiMenna Associates LLC lessened its holdings in Beyond Meat, Inc. (NASDAQ:BYND) by 11.5% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 77,000 shares of the company’s stock after selling 10,000 shares during the period. Zweig DiMenna Associates LLC owned 0.12% of Beyond Meat worth $685,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of the business. Morgan Stanley raised its holdings in shares of Beyond Meat by 46.1% during the 3rd quarter. Morgan Stanley now owns 1,943,783 shares of the company’s stock worth $18,699,000 after acquiring an additional 613,491 shares in the last quarter. Norges Bank purchased a new stake in shares of Beyond Meat during the 4th quarter worth approximately $6,875,000. Vontobel Holding Ltd. raised its holdings in shares of Beyond Meat by 716.7% during the 3rd quarter. Vontobel Holding Ltd. now owns 359,718 shares of the company’s stock worth $3,460,000 after acquiring an additional 315,671 shares in the last quarter. Balyasny Asset Management L.P. purchased a new stake in shares of Beyond Meat during the 1st quarter worth approximately $4,908,000. Finally, Northern Trust Corp raised its holdings in shares of Beyond Meat by 114.2% during the 2nd quarter. Northern Trust Corp now owns 559,446 shares of the company’s stock worth $13,393,000 after acquiring an additional 298,321 shares in the last quarter. Hedge funds and other institutional investors own 52.48% of the company’s stock.

Analyst Upgrades and Downgrades

BYND has been the topic of several recent research reports. BMO Capital Markets increased their price target on Beyond Meat from $7.00 to $10.00 and gave the company a “market perform” rating in a report on Wednesday, February 28th. Argus upgraded Beyond Meat from a “sell” rating to a “hold” rating in a report on Thursday, February 29th. Finally, Mizuho increased their price target on Beyond Meat from $5.00 to $7.00 and gave the company an “underperform” rating in a report on Thursday, February 29th. Five analysts have rated the stock with a sell rating and two have assigned a hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Reduce” and a consensus target price of $6.67.

Beyond Meat Trading Down 1.1 %

Shares of BYND traded down $0.08 during midday trading on Friday, reaching $7.41. 1,083,677 shares of the stock were exchanged, compared to its average volume of 2,114,180. Beyond Meat, Inc. has a 52 week low of $5.58 and a 52 week high of $19.25. The company’s 50 day moving average is $7.69 and its two-hundred day moving average is $7.88. The company has a market capitalization of $479.28 million, a P/E ratio of -1.41 and a beta of 2.41.

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

Beyond Meat 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.