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

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

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

Beyond Meat Stock Down 9.1 %

Shares of BYND stock traded down $0.33 during mid-day trading on Thursday, reaching $3.24. The stock had a trading volume of 3,626,715 shares, compared to its average volume of 3,484,699. The firm’s 50 day simple moving average is $3.87 and its 200 day simple moving average is $5.14. Beyond Meat has a one year low of $3.18 and a one year high of $12.12. The firm has a market cap of $210.93 million, a PE ratio of -0.78 and a beta of 2.31.

Beyond Meat (NASDAQ:BYND) last posted its earnings results on Wednesday, February 26th. The company reported ($0.65) EPS for the quarter, missing the consensus estimate of ($0.44) by ($0.21). The company had revenue of $76.66 million during the quarter, compared to analyst estimates of $76.08 million. Sell-side analysts forecast that Beyond Meat will post -2.1 earnings per share for the current fiscal year.

Insider Activity at Beyond Meat

In other news, insider Ethan Brown sold 313,000 shares of Beyond Meat 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 trade represents a 15.52 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 8.60% of the company’s stock.

Institutional Investors Weigh In On Beyond Meat

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Perigon Wealth Management LLC increased its stake in shares of Beyond Meat by 25.9% in 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. Charles Schwab Investment Management Inc. increased its stake in shares of Beyond Meat by 0.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 527,056 shares of the company’s stock valued at $1,982,000 after buying an additional 4,162 shares during the period. Van ECK Associates Corp increased its stake in shares of Beyond Meat by 68.8% in the 4th quarter. Van ECK Associates Corp now owns 10,498 shares of the company’s stock valued at $39,000 after buying an additional 4,280 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Beyond Meat by 16.7% in the 3rd 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. Finally, ProShare Advisors LLC increased its stake in shares of Beyond Meat by 49.1% in the 4th quarter. ProShare Advisors LLC now owns 16,825 shares of the company’s stock valued at $63,000 after buying an additional 5,537 shares during the period. 52.48% of the stock is owned by institutional investors and hedge funds.

About Beyond Meat

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.