Other research analysts have also issued reports about the company. Jefferies Financial Group cut their price objective on Beyond Meat from $130.00 to $107.00 and set a “hold” rating on the stock in a report on Thursday, February 27th. Bernstein Bank lowered Beyond Meat to a “market perform” rating and set a $106.00 price objective on the stock. in a report on Wednesday, January 15th. Credit Suisse Group cut their price objective on Beyond Meat from $125.00 to $118.00 and set a “neutral” rating on the stock in a report on Monday, March 2nd. Zacks Investment Research lowered Beyond Meat from a “buy” rating to a “hold” rating in a report on Tuesday, March 17th. Finally, Bank of America lowered Beyond Meat from a “neutral” rating to an “underperform” rating and set a $50.00 price objective on the stock. in a report on Thursday, March 19th. Six analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and three have given a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $100.58.
Shares of BYND stock opened at $71.10 on Friday. The stock’s 50-day simple moving average is $95.40 and its 200-day simple moving average is $102.36. The company has a debt-to-equity ratio of 0.05, a quick ratio of 6.75 and a current ratio of 8.46. The firm has a market capitalization of $4.17 billion and a PE ratio of -62.37. Beyond Meat has a fifty-two week low of $45.00 and a fifty-two week high of $239.71.
Beyond Meat (NASDAQ:BYND) last announced its quarterly earnings data on Thursday, February 27th. The company reported ($0.01) earnings per share for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.02). The firm had revenue of $98.50 million during the quarter, compared to analyst estimates of $81.52 million. Beyond Meat had a negative net margin of 4.18% and a positive return on equity of 1.31%. Beyond Meat’s revenue was up 212.7% compared to the same quarter last year. Sell-side analysts forecast that Beyond Meat will post 0.26 earnings per share for the current year.
In other Beyond Meat news, Director Christopher Isaac Stone sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $94.43, for a total value of $1,888,600.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Cari Soto sold 7,850 shares of the firm’s stock in a transaction that occurred on Wednesday, March 11th. The shares were sold at an average price of $84.72, for a total value of $665,052.00. Following the completion of the sale, the insider now directly owns 11,339 shares in the company, valued at $960,640.08. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 58,850 shares of company stock worth $5,870,332.
A number of institutional investors and hedge funds have recently modified their holdings of the business. KPCB XIV Associates LLC acquired a new stake in Beyond Meat in the fourth quarter valued at approximately $258,501,000. State Street Corp grew its holdings in Beyond Meat by 265.7% in the fourth quarter. State Street Corp now owns 487,798 shares of the company’s stock valued at $36,878,000 after purchasing an additional 354,426 shares during the period. Norges Bank acquired a new stake in Beyond Meat in the fourth quarter valued at approximately $29,537,000. Lord Abbett & CO. LLC acquired a new stake in Beyond Meat in the fourth quarter valued at approximately $25,703,000. Finally, Artisan Partners Limited Partnership acquired a new stake in Beyond Meat in the fourth quarter valued at approximately $22,338,000. 29.49% 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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