Charles Schwab Investment Management Inc. Raises Stake in Beyond Meat, Inc. (NASDAQ:BYND)

Charles Schwab Investment Management Inc. lifted its stake in shares of Beyond Meat, Inc. (NASDAQ:BYND) by 0.8% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 527,056 shares of the company’s stock after acquiring an additional 4,162 shares during the period. Charles Schwab Investment Management Inc. owned 0.81% of Beyond Meat worth $1,982,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of the stock. Ballentine Partners LLC acquired a new stake in Beyond Meat during the fourth quarter worth about $39,000. Van ECK Associates Corp increased 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 buying an additional 4,280 shares during the last quarter. Perigon Wealth Management LLC raised its position in shares of Beyond Meat by 25.9% during the 4th quarter. Perigon Wealth Management LLC now owns 14,530 shares of the company’s stock valued at $55,000 after buying an additional 2,986 shares during the period. Versor Investments LP acquired a new position in Beyond Meat in the fourth quarter valued at approximately $85,000. Finally, Intech Investment Management LLC purchased a new position in Beyond Meat in the third quarter worth approximately $128,000. Hedge funds and other institutional investors own 52.48% of the company’s stock.

Beyond Meat Stock Down 5.1 %

BYND opened at $3.14 on Friday. Beyond Meat, Inc. has a 52 week low of $2.86 and a 52 week high of $10.31. The business has a fifty day simple moving average of $3.67 and a 200-day simple moving average of $4.72. The firm has a market cap of $239.05 million, a P/E ratio of -0.75 and a beta of 2.36.

Beyond Meat (NASDAQ:BYND) last announced its 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 company had revenue of $76.66 million during the quarter, compared to the consensus estimate of $76.08 million. Sell-side analysts expect that Beyond Meat, Inc. will post -2.1 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms have commented on BYND. Barclays reduced their target price on Beyond Meat from $4.00 to $3.00 and set an “underweight” rating on the stock in a research report on Thursday, February 27th. BMO Capital Markets decreased their target price on shares of Beyond Meat from $6.00 to $5.00 and set a “market perform” rating on the stock in a research report on Thursday, February 27th. Four equities research analysts have rated the stock with a sell rating and two have given a hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Reduce” and an average target price of $4.92.

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.