Shares of Beyond Meat (NASDAQ:BYND) have been assigned a consensus rating of “Hold” from the nine research firms that are covering the firm, Marketbeat Ratings reports. Eight investment analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average 12-month price target among analysts that have covered the stock in the last year is $126.17.
A number of brokerages have issued reports on BYND. Zacks Investment Research raised Beyond Meat from a “hold” rating to a “buy” rating and set a $197.00 price target for the company in a report on Tuesday, August 6th. Goldman Sachs Group began coverage on Beyond Meat in a report on Monday, May 27th. They issued a “neutral” rating and a $67.00 price target for the company. Jefferies Financial Group boosted their price target on Beyond Meat from $85.00 to $105.00 and gave the company a “hold” rating in a report on Friday, June 7th. They noted that the move was a valuation call. Bank of America boosted their price target on Beyond Meat from $170.00 to $182.00 and gave the company a “neutral” rating in a report on Friday, August 2nd. Finally, William Blair began coverage on Beyond Meat in a report on Tuesday, May 28th. They issued a “market perform” rating for the company.
NASDAQ:BYND traded up $0.57 during trading hours on Friday, reaching $144.77. The company had a trading volume of 5,867,000 shares, compared to its average volume of 8,733,501. Beyond Meat has a 1-year low of $45.00 and a 1-year high of $239.71. The stock has a 50 day moving average price of $173.73. The company has a current ratio of 8.95, a quick ratio of 7.90 and a debt-to-equity ratio of 0.07.
Beyond Meat (NASDAQ:BYND) last announced its quarterly earnings results on Monday, July 29th. The company reported $0.01 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.08) by $0.09. The company had revenue of $67.25 million during the quarter, compared to analyst estimates of $50.94 million. Equities research analysts predict that Beyond Meat will post -0.23 earnings per share for the current fiscal year.
In other news, major shareholder Perkins Caufield & Bye Kleiner sold 723,862 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $154.00, for a total transaction of $111,474,748.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Diane Carhart sold 9,069 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $160.00, for a total value of $1,451,040.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 821,957 shares of company stock valued at $127,169,948.
Several hedge funds have recently made changes to their positions in BYND. Vanguard Group Inc. acquired a new position in shares of Beyond Meat during the 2nd quarter worth approximately $169,339,000. Blackstone Group Inc acquired a new position in shares of Beyond Meat during the 2nd quarter worth approximately $161,317,000. BlackRock Inc. acquired a new position in shares of Beyond Meat during the 2nd quarter worth approximately $68,864,000. Jefferies Group LLC acquired a new position in shares of Beyond Meat during the 2nd quarter worth approximately $24,102,000. Finally, OZ Management LP acquired a new position in shares of Beyond Meat during the 2nd quarter worth approximately $11,858,000. 0.30% of the stock is owned by institutional investors and hedge funds.
About Beyond Meat
Beyond Meat, Inc, a food company, manufactures, markets, and sells plant-based meat products in the United States and internationally. The company sells its products under the Beyond Beef, Beyond Chicken, The Beyond Burger, Beyond Meat, Beyond Sausage, Eat What You Love, and The Cookout Classic brand names.
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