Candriam Luxembourg S.C.A. Takes Position in Beyond Meat, Inc. (NASDAQ:BYND)

Candriam Luxembourg S.C.A. acquired a new stake in Beyond Meat, Inc. (NASDAQ:BYND) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 500 shares of the company’s stock, valued at approximately $508,000.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Berman Capital Advisors LLC lifted its stake in shares of Beyond Meat by 175.0% during the 2nd quarter. Berman Capital Advisors LLC now owns 165 shares of the company’s stock worth $25,000 after buying an additional 105 shares during the last quarter. Strategic Blueprint LLC acquired a new stake in shares of Beyond Meat during the 2nd quarter worth about $39,000. Hanson & Doremus Investment Management acquired a new stake in shares of Beyond Meat during the 3rd quarter worth about $39,000. Close Asset Management Ltd lifted its stake in shares of Beyond Meat by 33.6% during the 3rd quarter. Close Asset Management Ltd now owns 410 shares of the company’s stock worth $43,000 after buying an additional 103 shares during the last quarter. Finally, Penserra Capital Management LLC lifted its stake in shares of Beyond Meat by 154.0% during the 2nd quarter. Penserra Capital Management LLC now owns 287 shares of the company’s stock worth $45,000 after buying an additional 174 shares during the last quarter. 59.04% of the stock is owned by institutional investors.

In related news, insider Teri L. Witteman sold 7,880 shares of Beyond Meat stock in a transaction that occurred on Friday, December 10th. The shares were sold at an average price of $64.26, for a total transaction of $506,368.80. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 8.90% of the company’s stock.

Shares of Beyond Meat stock opened at $66.58 on Friday. The company has a quick ratio of 12.92, a current ratio of 15.52 and a debt-to-equity ratio of 5.45. The firm’s 50 day moving average is $72.57 and its 200 day moving average is $102.40. Beyond Meat, Inc. has a 1 year low of $58.00 and a 1 year high of $221.00.

Beyond Meat (NASDAQ:BYND) last announced its quarterly earnings results on Wednesday, November 10th. The company reported ($0.87) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.39) by ($0.48). The company had revenue of $106.43 million for the quarter, compared to the consensus estimate of $106.13 million. Beyond Meat had a negative net margin of 27.22% and a negative return on equity of 44.64%. During the same period last year, the firm posted ($0.28) earnings per share. As a group, analysts predict that Beyond Meat, Inc. will post -2.31 earnings per share for the current year.

A number of analysts have recently issued reports on BYND shares. Citigroup cut their target price on shares of Beyond Meat from $70.00 to $55.00 and set an “underperform” rating for the company in a research note on Wednesday, January 5th. HSBC initiated coverage on shares of Beyond Meat in a research note on Monday, November 29th. They issued a “reduce” rating and a $62.00 price objective for the company. Cowen dropped their price objective on shares of Beyond Meat from $101.00 to $79.00 and set a “market perform” rating for the company in a research note on Monday, November 15th. Sanford C. Bernstein cut shares of Beyond Meat from an “outperform” rating to a “market perform” rating and dropped their price objective for the stock from $130.00 to $100.00 in a research note on Thursday, November 11th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Beyond Meat from $79.00 to $54.00 and set an “underweight” rating for the company in a research note on Thursday, November 11th. Eight research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and two have given a buy rating to the company. According to MarketBeat.com, Beyond Meat has a consensus rating of “Hold” and an average price target of $92.19.

About Beyond Meat

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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Institutional Ownership by Quarter for Beyond Meat (NASDAQ:BYND)

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