Intellectus Partners LLC bought a new stake in Beyond Meat, Inc. (NASDAQ:BYND) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 4,425 shares of the company’s stock, valued at approximately $697,000.
Several other institutional investors have also made changes to their positions in BYND. Russell Investments Group Ltd. boosted its position in shares of Beyond Meat by 53.8% in the first quarter. Russell Investments Group Ltd. now owns 11,035 shares of the company’s stock valued at $1,434,000 after acquiring an additional 3,860 shares during the period. Teacher Retirement System of Texas boosted its position in shares of Beyond Meat by 22.1% in the first quarter. Teacher Retirement System of Texas now owns 2,762 shares of the company’s stock valued at $359,000 after acquiring an additional 499 shares during the period. Mercer Global Advisors Inc. ADV boosted its position in shares of Beyond Meat by 14.4% in the first quarter. Mercer Global Advisors Inc. ADV now owns 2,159 shares of the company’s stock valued at $281,000 after acquiring an additional 272 shares during the period. Quilter Plc boosted its position in shares of Beyond Meat by 26.5% in the first quarter. Quilter Plc now owns 4,200 shares of the company’s stock valued at $546,000 after acquiring an additional 881 shares during the period. Finally, Panagora Asset Management Inc. bought a new stake in shares of Beyond Meat in the first quarter valued at about $107,000. 51.57% of the stock is owned by institutional investors.
A number of research analysts recently commented on BYND shares. Sanford C. Bernstein boosted their price target on Beyond Meat from $130.00 to $178.00 and gave the company an “outperform” rating in a research note on Wednesday, June 16th. Cowen started coverage on Beyond Meat in a research note on Friday, September 10th. They issued a “market perform” rating and a $124.00 price target for the company. Piper Sandler downgraded Beyond Meat from a “neutral” rating to an “underweight” rating and dropped their price target for the company from $120.00 to $95.00 in a research note on Wednesday, September 15th. Argus downgraded Beyond Meat from a “buy” rating to a “hold” rating in a research note on Wednesday, August 25th. Finally, Zacks Investment Research downgraded Beyond Meat from a “hold” rating to a “sell” rating in a research note on Wednesday, October 6th. Eight investment analysts have rated the stock with a sell rating, nine have given a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, Beyond Meat presently has an average rating of “Hold” and an average target price of $124.00.
Beyond Meat (NASDAQ:BYND) last announced its earnings results on Thursday, August 5th. The company reported ($0.31) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.23) by ($0.08). The company had revenue of $149.43 million during the quarter, compared to the consensus estimate of $140.24 million. Beyond Meat had a negative net margin of 20.11% and a negative return on equity of 26.78%. During the same quarter in the previous year, the company earned ($0.02) earnings per share. As a group, research analysts forecast that Beyond Meat, Inc. will post -1.29 earnings per share for the current year.
Beyond Meat Company Profile
Beyond Meat, Inc engages in the provision of plant-based meats. Its products include ready-to-cook meat under the brands The Beyond Burger and Beyond Sausage; and frozen meat namely Beyond Chicken Strips and Beyond Beef Crumbles. The company was founded by Ethan Walden Brown and Brent Taylor in 2009 and is headquartered in El Segundo, CA.
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