Advisory Services Network LLC Has $221,000 Position in Beyond Meat, Inc. (NASDAQ:BYND)

Advisory Services Network LLC lowered its stake in shares of Beyond Meat, Inc. (NASDAQ:BYND) by 14.7% in the third quarter, HoldingsChannel reports. The institutional investor owned 2,104 shares of the company’s stock after selling 362 shares during the period. Advisory Services Network LLC’s holdings in Beyond Meat were worth $221,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the business. Ninety One UK Ltd acquired a new stake in shares of Beyond Meat in the 3rd quarter valued at $74,665,000. Vanguard Group Inc. lifted its stake in shares of Beyond Meat by 13.2% in the 2nd quarter. Vanguard Group Inc. now owns 4,456,953 shares of the company’s stock valued at $701,926,000 after purchasing an additional 519,411 shares during the last quarter. SG Americas Securities LLC lifted its stake in shares of Beyond Meat by 4,991.8% in the 2nd quarter. SG Americas Securities LLC now owns 248,326 shares of the company’s stock valued at $39,109,000 after purchasing an additional 243,449 shares during the last quarter. State Street Corp lifted its stake in shares of Beyond Meat by 33.3% in the 2nd quarter. State Street Corp now owns 781,146 shares of the company’s stock valued at $123,023,000 after purchasing an additional 195,216 shares during the last quarter. Finally, Baillie Gifford & Co. lifted its stake in shares of Beyond Meat by 2.1% in the 3rd quarter. Baillie Gifford & Co. now owns 8,559,271 shares of the company’s stock valued at $900,948,000 after purchasing an additional 174,778 shares during the last quarter. 59.04% of the stock is owned by institutional investors.

NASDAQ:BYND opened at $66.58 on Friday. The firm has a market cap of $4.21 billion, a PE ratio of -33.12 and a beta of 1.57. Beyond Meat, Inc. has a 12 month low of $58.00 and a 12 month high of $221.00. The company has a quick ratio of 12.92, a current ratio of 15.52 and a debt-to-equity ratio of 5.45. The company’s 50-day moving average price is $72.57 and its two-hundred day moving average price is $102.40.

Beyond Meat (NASDAQ:BYND) last announced its earnings results on Wednesday, November 10th. The company reported ($0.87) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.39) by ($0.48). Beyond Meat had a negative return on equity of 44.64% and a negative net margin of 27.22%. The company had revenue of $106.43 million for the quarter, compared to analyst estimates of $106.13 million. During the same quarter in the previous year, the company posted ($0.28) earnings per share. On average, research analysts expect that Beyond Meat, Inc. will post -2.31 EPS for the current fiscal year.

Several brokerages recently commented on BYND. Zacks Investment Research upgraded shares of Beyond Meat from a “strong sell” rating to a “hold” rating in a report on Tuesday. Sanford C. Bernstein downgraded shares of Beyond Meat from an “outperform” rating to a “market perform” rating and dropped their target price for the stock from $130.00 to $100.00 in a report on Thursday, November 11th. JPMorgan Chase & Co. dropped their target price on shares of Beyond Meat from $79.00 to $54.00 and set an “underweight” rating on the stock in a report on Thursday, November 11th. Bank of America started coverage on shares of Beyond Meat in a report on Wednesday, January 5th. They issued an “underperform” rating and a $55.00 target price on the stock. Finally, Citigroup dropped their price objective on shares of Beyond Meat from $70.00 to $55.00 and set an “underperform” rating on the stock in a report on Wednesday, January 5th. Eight analysts have rated the stock with a sell rating, eleven have issued a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, Beyond Meat presently has a consensus rating of “Hold” and a consensus price target of $92.19.

In other news, insider Teri L. Witteman sold 7,880 shares of the company’s stock in a transaction that occurred on Friday, December 10th. The shares were sold at an average price of $64.26, for a total transaction of $506,368.80. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 8.90% of the stock is currently owned by corporate insiders.

Beyond Meat Profile

Beyond Meat, Inc engages in the provision of plant-based meats. Its products include ready-to-cook meat under the brands The Beyond Burger and Beyond Sausage; and frozen meat namely Beyond Chicken Strips and Beyond Beef Crumbles. The company was founded by Ethan Walden Brown and Brent Taylor in 2009 and is headquartered in El Segundo, CA.

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Institutional Ownership by Quarter for Beyond Meat (NASDAQ:BYND)

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