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

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

Separately, Barclays dropped their price objective on shares of Beyond Meat from $4.00 to $3.00 and set an “underweight” rating on the stock in a research note on Thursday. Four research analysts have rated the stock with a sell rating and two have assigned a hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Reduce” and a consensus price target of $4.92.

Beyond Meat Stock Performance

NASDAQ BYND opened at $3.16 on Thursday. The firm’s 50 day moving average price is $3.86 and its 200-day moving average price is $5.10. Beyond Meat has a 52-week low of $3.10 and a 52-week high of $11.70. The company has a market cap of $206.04 million, a PE ratio of -0.76 and a beta of 2.31.

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

Insider Buying and Selling at Beyond Meat

In other Beyond Meat news, insider Ethan Brown sold 313,000 shares of the firm’s stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $3.75, for a total value of $1,173,750.00. Following the completion of the sale, the insider now directly owns 1,703,288 shares in the company, valued at $6,387,330. This trade represents a 15.52 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 8.60% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Vontobel Holding Ltd. raised its holdings in shares of Beyond Meat by 128.7% in the fourth quarter. Vontobel Holding Ltd. now owns 1,302,941 shares of the company’s stock worth $4,899,000 after buying an additional 733,168 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Beyond Meat by 1.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 522,894 shares of the company’s stock worth $3,545,000 after buying an additional 7,332 shares during the last quarter. Zweig DiMenna Associates LLC purchased a new position in shares of Beyond Meat in the fourth quarter worth $1,746,000. Ballentine Partners LLC purchased a new position in shares of Beyond Meat in the fourth quarter worth $39,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Beyond Meat by 16.7% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 37,901 shares of the company’s stock worth $257,000 after buying an additional 5,419 shares during the last quarter. Hedge funds and other institutional investors own 52.48% of the company’s stock.

Beyond Meat Company 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.