Wells Fargo & Co assumed coverage on shares of Beyond Meat (NASDAQ:BYND) in a report published on Monday, BenzingaRatingsTable reports. The brokerage issued a market perform rating and a $125.00 price objective on the stock. The analysts noted that the move was a valuation call.
A number of other research firms have also weighed in on BYND. Barclays initiated coverage on Beyond Meat in a research note on Thursday, September 19th. They issued an overweight rating and a $185.00 price objective for the company. BNP Paribas initiated coverage on Beyond Meat in a research note on Monday, September 23rd. They issued an underperform rating for the company. Zacks Investment Research raised Beyond Meat from a hold rating to a buy rating and set a $197.00 price objective for the company in a research note on Tuesday, August 6th. Credit Suisse Group upped their price objective on Beyond Meat from $70.00 to $125.00 and gave the stock a neutral rating in a research note on Tuesday, July 9th. Finally, Bank of America upped their price objective on Beyond Meat from $170.00 to $182.00 and gave the stock a neutral rating in a research note on Friday, August 2nd. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and three have assigned a buy rating to the stock. Beyond Meat currently has an average rating of Hold and a consensus price target of $137.94.
Shares of NASDAQ BYND traded down $3.70 during mid-day trading on Monday, reaching $122.61. The company’s stock had a trading volume of 42,762 shares, compared to its average volume of 2,100,719. The company has a quick ratio of 7.90, a current ratio of 8.95 and a debt-to-equity ratio of 0.07. The firm’s fifty day simple moving average is $151.14. Beyond Meat has a 52 week low of $45.00 and a 52 week high of $239.71.
In related news, Director Diane Carhart sold 9,069 shares of the stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $160.00, for a total value of $1,451,040.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Charles Muth sold 24,574 shares of the stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $160.00, for a total value of $3,931,840.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 821,957 shares of company stock worth $127,169,948.
A number of large investors have recently made changes to their positions in BYND. West Oak Capital LLC bought a new position in Beyond Meat in the second quarter worth approximately $88,000. Atalanta Sosnoff Capital LLC bought a new position in Beyond Meat in the second quarter worth approximately $6,571,000. Rainey & Randall Investment Management Inc. bought a new position in Beyond Meat in the second quarter worth approximately $228,000. Winslow Evans & Crocker Inc. bought a new position in Beyond Meat in the second quarter worth approximately $168,000. Finally, Meridian Wealth Management LLC bought a new position in Beyond Meat in the second quarter worth approximately $709,000. 9.45% of the stock is currently owned by institutional investors.
Beyond Meat Company Profile
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.
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