Beyond Meat, Inc. (NASDAQ:BYND) Receives $5.36 Consensus Target Price from Brokerages

Shares of Beyond Meat, Inc. (NASDAQ:BYNDGet Free Report) have received an average rating of “Strong Sell” from the eight research firms that are covering the stock, MarketBeat Ratings reports. Five investment analysts have rated the stock with a sell recommendation and three have given a hold recommendation to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $5.36.

Several brokerages recently weighed in on BYND. BMO Capital Markets decreased their price objective on Beyond Meat from $9.00 to $6.00 and set a “market perform” rating for the company in a report on Thursday, August 8th. Mizuho reduced their price objective on shares of Beyond Meat from $6.00 to $5.00 and set an “underperform” rating for the company in a research note on Monday, August 26th.

Read Our Latest Report on Beyond Meat

Hedge Funds Weigh In On Beyond Meat

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Banque Cantonale Vaudoise grew its position in Beyond Meat by 117.4% in the first quarter. Banque Cantonale Vaudoise now owns 3,220 shares of the company’s stock worth $26,000 after acquiring an additional 1,739 shares in the last quarter. Ensign Peak Advisors Inc raised its holdings in shares of Beyond Meat by 7.8% during the 2nd quarter. Ensign Peak Advisors Inc now owns 36,493 shares of the company’s stock valued at $245,000 after buying an additional 2,650 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of Beyond Meat by 9.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 33,104 shares of the company’s stock valued at $275,000 after buying an additional 2,790 shares in the last quarter. The Manufacturers Life Insurance Company lifted its position in Beyond Meat by 17.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 26,469 shares of the company’s stock worth $178,000 after buying an additional 3,902 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System boosted its stake in Beyond Meat by 30.4% in the first quarter. State Board of Administration of Florida Retirement System now owns 22,061 shares of the company’s stock worth $183,000 after buying an additional 5,140 shares in the last quarter. 52.48% of the stock is currently owned by hedge funds and other institutional investors.

Beyond Meat Stock Up 0.6 %

BYND opened at $6.63 on Thursday. The company’s 50-day moving average price is $6.28 and its two-hundred day moving average price is $6.70. Beyond Meat has a twelve month low of $5.13 and a twelve month high of $12.12. The stock has a market cap of $430.19 million, a price-to-earnings ratio of -1.28 and a beta of 2.26.

Beyond Meat (NASDAQ:BYNDGet Free Report) last announced its quarterly earnings data on Wednesday, August 7th. The company reported ($0.53) earnings per share for the quarter, missing the consensus estimate of ($0.51) by ($0.02). The business had revenue of $93.19 million during the quarter, compared to analyst estimates of $87.81 million. The company’s revenue for the quarter was down 8.8% compared to the same quarter last year. During the same period last year, the business posted ($0.83) earnings per share. As a group, sell-side analysts anticipate that Beyond Meat will post -2.12 earnings per share for the current year.

Beyond Meat Company Profile

(Get Free Report

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.

Featured Articles

Analyst Recommendations for Beyond Meat (NASDAQ:BYND)

Receive News & Ratings for Beyond Meat Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Beyond Meat and related companies with MarketBeat.com's FREE daily email newsletter.