Rhumbline Advisers Has $494,000 Position in Beyond Meat, Inc. (NASDAQ:BYND)

Rhumbline Advisers raised its holdings in shares of Beyond Meat, Inc. (NASDAQ:BYND) by 61.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 131,327 shares of the company’s stock after buying an additional 49,875 shares during the quarter. Rhumbline Advisers owned about 0.20% of Beyond Meat worth $494,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Ballentine Partners LLC acquired a new position in shares of Beyond Meat during the fourth quarter worth approximately $39,000. Van ECK Associates Corp grew its position in Beyond Meat by 68.8% in the fourth quarter. Van ECK Associates Corp now owns 10,498 shares of the company’s stock valued at $39,000 after acquiring an additional 4,280 shares during the period. Perigon Wealth Management LLC grew its position in 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 during the period. Intech Investment Management LLC bought a new stake in Beyond Meat in the third quarter valued at $128,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position in Beyond Meat by 16.7% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 37,901 shares of the company’s stock valued at $257,000 after acquiring an additional 5,419 shares during the period. 52.48% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. Barclays decreased their target price on Beyond Meat from $4.00 to $3.00 and set an “underweight” rating on the stock in a report on Thursday, February 27th. BMO Capital Markets decreased their price target on Beyond Meat from $6.00 to $5.00 and set a “market perform” rating on the stock in a report on Thursday, February 27th. Four research 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.com, the company has a consensus rating of “Reduce” and a consensus price target of $4.92.

Insider Transactions at Beyond Meat

In related news, insider Ethan Brown sold 313,000 shares of the firm’s stock in a transaction 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 transaction, the insider now owns 1,703,288 shares of the company’s stock, valued at approximately $6,387,330. This trade represents a 15.52 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 8.60% of the stock is owned by insiders.

Beyond Meat Trading Up 6.7 %

NASDAQ:BYND opened at $3.36 on Friday. Beyond Meat, Inc. has a 1-year low of $2.86 and a 1-year high of $10.31. The business’s 50-day moving average price is $3.81 and its two-hundred day moving average price is $5.00. The firm has a market capitalization of $219.08 million, a price-to-earnings ratio of -0.80 and a beta of 2.36.

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

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.