BMO Capital Markets Has Lowered Expectations for Beyond Meat (NASDAQ:BYND) Stock Price

Beyond Meat (NASDAQ:BYND) had its target price cut by equities researchers at BMO Capital Markets from $6.00 to $5.00 in a research note issued on Thursday,Benzinga reports. The brokerage currently has a “market perform” rating on the stock. BMO Capital Markets’ price target indicates a potential upside of 54.56% from the stock’s current price.

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

Beyond Meat Price Performance

NASDAQ BYND traded down $0.33 during trading on Thursday, reaching $3.24. 3,626,715 shares of the company’s stock were exchanged, compared to its average volume of 3,484,699. Beyond Meat has a fifty-two week low of $3.18 and a fifty-two week high of $12.12. The business has a 50 day moving average price of $3.87 and a 200-day moving average price of $5.14. The stock has a market capitalization of $210.93 million, a P/E ratio of -0.78 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 the consensus estimate 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. On average, analysts forecast that Beyond Meat will post -2.1 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Ethan Brown sold 313,000 shares of the stock in a transaction on Friday, December 13th. The stock was 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 of the company’s stock, valued at approximately $6,387,330. This represents a 15.52 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 8.60% of the company’s stock.

Hedge Funds Weigh In On Beyond Meat

A number of large investors have recently bought and sold shares of the stock. Vontobel Holding Ltd. increased its stake in shares of Beyond Meat by 128.7% during the fourth quarter. Vontobel Holding Ltd. now owns 1,302,941 shares of the company’s stock valued at $4,899,000 after buying an additional 733,168 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of Beyond Meat by 1.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 522,894 shares of the company’s stock valued at $3,545,000 after buying an additional 7,332 shares during the period. Zweig DiMenna Associates LLC purchased a new position in shares of Beyond Meat during the fourth quarter valued at approximately $1,746,000. Ballentine Partners LLC purchased a new position in shares of Beyond Meat during the fourth quarter valued at approximately $39,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Beyond Meat by 16.7% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 37,901 shares of the company’s stock valued at $257,000 after buying an additional 5,419 shares during the period. 52.48% of the stock is owned by hedge funds and other institutional investors.

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.