Raymond James & Associates Purchases New Stake in Beyond Meat, Inc. (NASDAQ:BYND)

Raymond James & Associates purchased a new stake in Beyond Meat, Inc. (NASDAQ:BYND) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 23,523 shares of the company’s stock, valued at approximately $209,000.

A number of other large investors have also added to or reduced their stakes in the business. Compagnie Lombard Odier SCmA grew its position in Beyond Meat by 87.0% during the third quarter. Compagnie Lombard Odier SCmA now owns 21,500 shares of the company’s stock worth $207,000 after buying an additional 10,000 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Beyond Meat by 39.9% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 37,452 shares of the company’s stock valued at $360,000 after acquiring an additional 10,673 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in Beyond Meat by 5.6% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 58,921 shares of the company’s stock valued at $567,000 after acquiring an additional 3,143 shares in the last quarter. Olympiad Research LP acquired a new position in Beyond Meat in the 3rd quarter valued at $280,000. Finally, Sigma Planning Corp acquired a new position in Beyond Meat in the 3rd quarter valued at $98,000. Institutional investors own 52.48% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on BYND shares. BMO Capital Markets lifted their price objective on Beyond Meat from $7.00 to $10.00 and gave the company a “market perform” rating in a report on Wednesday, February 28th. Mizuho decreased their price target on Beyond Meat from $7.00 to $6.00 and set an “underperform” rating on the stock in a research note on Monday, April 22nd. Argus upgraded Beyond Meat from a “sell” rating to a “hold” rating in a research note on Thursday, February 29th. Finally, TD Cowen decreased their price target on Beyond Meat from $10.00 to $6.00 and set a “sell” rating on the stock in a research note on Wednesday, April 17th. Five analysts have rated the stock with a sell rating and two have given a hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Reduce” and a consensus price target of $5.83.

Beyond Meat Stock Up 0.9 %

Shares of BYND stock opened at $6.78 on Wednesday. The firm has a market capitalization of $438.53 million, a P/E ratio of -1.29 and a beta of 2.41. Beyond Meat, Inc. has a twelve month low of $5.58 and a twelve month high of $19.25. The stock’s fifty day simple moving average is $7.65 and its 200 day simple moving average is $7.58.

Beyond Meat (NASDAQ:BYND) last issued its quarterly earnings data on Tuesday, February 27th. The company reported ($2.40) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.82) by ($1.58). The company had revenue of $73.68 million during the quarter, compared to analyst estimates of $66.66 million. During the same quarter in the prior year, the company earned ($1.05) EPS. The firm’s revenue was down 7.8% compared to the same quarter last year. As a group, equities research analysts expect that Beyond Meat, Inc. will post -2.46 EPS for the current fiscal year.

Beyond Meat Profile

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.