Beyond Meat, Inc. (NASDAQ:BYND) Receives $0.82 Average PT from Brokerages

Shares of Beyond Meat, Inc. (NASDAQ:BYND) have been assigned an average rating of “Strong Sell” from the nine research firms that are covering the stock, Marketbeat Ratings reports. Six research analysts have rated the stock with a sell recommendation and three have assigned a hold recommendation to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $0.8250.

Several research analysts have recently weighed in on BYND shares. BMO Capital Markets decreased their price target on shares of Beyond Meat from $4.00 to $1.00 and set a “market perform” rating on the stock in a report on Monday, April 6th. Barclays dropped their price objective on Beyond Meat from $1.00 to $0.50 and set an “underweight” rating for the company in a research note on Thursday, April 2nd. Finally, Zacks Research upgraded Beyond Meat from a “strong sell” rating to a “hold” rating in a research note on Monday, June 1st.

Beyond Meat Stock Performance

NASDAQ:BYND opened at $0.67 on Friday. Beyond Meat has a 52-week low of $0.50 and a 52-week high of $7.69. The firm has a market cap of $347.70 million, a price-to-earnings ratio of -0.30 and a beta of 2.75. The business’s fifty day moving average is $0.76 and its 200 day moving average is $0.79.

Beyond Meat (NASDAQ:BYND) last announced its quarterly earnings results on Wednesday, May 6th. The company reported ($0.10) earnings per share for the quarter, beating the consensus estimate of ($0.12) by $0.02. Beyond Meat had a negative return on equity of 54.39% and a net margin of 54.95%.The firm had revenue of $58.21 million for the quarter, compared to analysts’ expectations of $58.02 million. Equities analysts predict that Beyond Meat will post -0.35 EPS for the current fiscal year.

Insider Transactions at Beyond Meat

In other news, CFO Lubi Kutua sold 419,042 shares of Beyond Meat stock in a transaction dated Monday, April 13th. The stock was sold at an average price of $0.60, for a total transaction of $251,425.20. Following the completion of the sale, the chief financial officer owned 5,749,967 shares in the company, valued at approximately $3,449,980.20. This trade represents a 6.79% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Teri L. Witteman sold 29,978 shares of the company’s stock in a transaction that occurred on Monday, April 20th. The stock was sold at an average price of $1.00, for a total transaction of $29,978.00. Following the completion of the transaction, the insider owned 4,178,194 shares in the company, valued at approximately $4,178,194. This trade represents a 0.71% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 1.90% of the company’s stock.

Institutional Investors Weigh In On Beyond Meat

Several hedge funds have recently added to or reduced their stakes in BYND. Geode Capital Management LLC increased its position in shares of Beyond Meat by 445.0% during the 4th quarter. Geode Capital Management LLC now owns 9,927,157 shares of the company’s stock valued at $8,142,000 after purchasing an additional 8,105,718 shares during the last quarter. UBS Group AG boosted its stake in Beyond Meat by 674.8% in the fourth quarter. UBS Group AG now owns 9,788,528 shares of the company’s stock worth $8,027,000 after buying an additional 8,525,183 shares in the last quarter. Vanguard Group Inc. boosted its stake in Beyond Meat by 1.5% in the third quarter. Vanguard Group Inc. now owns 4,780,045 shares of the company’s stock worth $9,034,000 after buying an additional 69,423 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in Beyond Meat by 497.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,383,511 shares of the company’s stock valued at $2,774,000 after acquiring an additional 2,816,778 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its position in Beyond Meat by 7.5% during the first quarter. Bank of New York Mellon Corp now owns 1,012,988 shares of the company’s stock valued at $711,000 after acquiring an additional 70,513 shares during the last quarter. Institutional investors own 52.48% of the company’s stock.

About Beyond Meat

Beyond Meat, Inc (NASDAQ: BYND) develops, manufactures and sells plant-based meat substitutes designed to replicate the taste, texture and appearance of animal-based proteins. Since its founding in 2009 by Ethan Brown and initial public offering in 2019, the company has focused on leveraging proprietary technology and ingredient blends to produce a suite of products that cater to both retail and foodservice channels. Beyond Meat’s mission centers on offering more sustainable protein options by reducing reliance on livestock farming and its associated environmental footprint.

The company’s product portfolio includes Beyond Burger, Beyond Sausage, Beyond Beef and Beyond Chicken, each formulated to appeal to a broad range of consumers seeking meat alternatives without compromising on flavor or cooking versatility.