Beyond Meat (NASDAQ:BYND) Price Target Lowered to $5.00 at BMO Capital Markets

Beyond Meat (NASDAQ:BYND) had its target price lowered by BMO Capital Markets from $6.00 to $5.00 in a research report released on Thursday morning,Benzinga reports. The brokerage currently has a market perform rating on the stock.

Separately, Barclays decreased their price target on shares of Beyond Meat from $4.00 to $3.00 and set an “underweight” rating for the company in a report on Thursday. Four equities research analysts have rated the stock with a sell rating and three have given a hold rating to the stock. According to MarketBeat.com, Beyond Meat presently has a consensus rating of “Reduce” and a consensus target price of $4.92.

Beyond Meat Stock Performance

Shares of BYND stock opened at $3.18 on Thursday. The stock’s 50 day simple moving average is $3.87 and its 200 day simple moving average is $5.13. The company has a market capitalization of $207.35 million, a price-to-earnings ratio of -0.76 and a beta of 2.31. Beyond Meat has a twelve month low of $3.10 and a twelve month high of $12.12.

Beyond Meat (NASDAQ:BYND) last posted its quarterly earnings results on Wednesday, February 26th. The company reported ($0.65) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.44) by ($0.21). The business had revenue of $76.66 million for the quarter, compared to the consensus estimate of $76.08 million. On average, analysts forecast that Beyond Meat will post -2.1 EPS for the current fiscal year.

Insider Activity at Beyond Meat

In other news, insider Ethan Brown sold 313,000 shares of the business’s stock in a transaction on Friday, December 13th. The shares were sold at an average price of $3.75, for a total transaction of $1,173,750.00. Following the sale, the insider now owns 1,703,288 shares in the company, valued at approximately $6,387,330. The trade was a 15.52 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 8.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Beyond Meat

Large investors have recently added to or reduced their stakes in the company. Perigon Wealth Management LLC raised its holdings in shares of Beyond Meat by 25.9% in the fourth quarter. Perigon Wealth Management LLC now owns 14,530 shares of the company’s stock valued at $55,000 after acquiring an additional 2,986 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in Beyond Meat by 0.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 527,056 shares of the company’s stock valued at $1,982,000 after purchasing an additional 4,162 shares during the last quarter. Van ECK Associates Corp boosted its holdings in shares of Beyond Meat by 68.8% during the 4th quarter. Van ECK Associates Corp now owns 10,498 shares of the company’s stock worth $39,000 after purchasing an additional 4,280 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Beyond Meat by 16.7% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 37,901 shares of the company’s stock valued at $257,000 after buying an additional 5,419 shares in the last quarter. Finally, ProShare Advisors LLC increased its position in Beyond Meat by 49.1% during the fourth quarter. ProShare Advisors LLC now owns 16,825 shares of the company’s stock worth $63,000 after purchasing an additional 5,537 shares during the last quarter. Hedge funds and other institutional investors own 52.48% of the company’s stock.

About Beyond Meat

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.