Beyond Meat (NASDAQ:BYND) Price Target Lowered to $3.00 at Barclays

Beyond Meat (NASDAQ:BYND) had its price objective cut by equities researchers at Barclays from $4.00 to $3.00 in a research report issued on Thursday,Benzinga reports. The brokerage currently has an “underweight” rating on the stock. Barclays‘s price target would indicate a potential downside of 12.87% from the stock’s current price.

Beyond Meat Stock Performance

BYND opened at $3.44 on Thursday. The stock’s 50 day moving average price is $3.87 and its 200-day moving average price is $5.14. Beyond Meat has a one year low of $3.30 and a one year high of $12.12. The stock has a market cap of $224.49 million, a price-to-earnings ratio of -0.82 and a beta of 2.31.

Beyond Meat (NASDAQ:BYND) last announced its quarterly earnings data on Wednesday, February 26th. The company reported ($0.65) EPS for the quarter, missing the consensus estimate of ($0.44) by ($0.21). The business had revenue of $76.66 million during the quarter, compared to the consensus estimate of $76.08 million. As a group, analysts predict that Beyond Meat will post -2.1 earnings per share for the current fiscal year.

Insider Buying and Selling

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

Institutional Investors Weigh In On Beyond Meat

Hedge funds have recently made changes to their positions in the company. Geode Capital Management LLC increased its stake in shares of Beyond Meat by 1.3% during the fourth quarter. Geode Capital Management LLC now owns 1,432,180 shares of the company’s stock valued at $5,387,000 after buying an additional 18,438 shares during the period. Vontobel Holding Ltd. increased its position in Beyond Meat by 128.7% during the 4th quarter. Vontobel Holding Ltd. now owns 1,302,941 shares of the company’s stock valued at $4,899,000 after purchasing an additional 733,168 shares during the period. Millennium Management LLC raised its holdings in shares of Beyond Meat by 73.8% in the 4th quarter. Millennium Management LLC now owns 619,957 shares of the company’s stock valued at $2,331,000 after purchasing an additional 263,337 shares in the last quarter. Northern Trust Corp lifted its position in shares of Beyond Meat by 9.6% in the 4th quarter. Northern Trust Corp now owns 595,612 shares of the company’s stock worth $2,240,000 after purchasing an additional 52,150 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Beyond Meat by 0.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 527,056 shares of the company’s stock valued at $1,982,000 after purchasing an additional 4,162 shares in the last quarter. 52.48% of the stock is currently 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.