BMO Capital Markets Lowers Beyond Meat (NASDAQ:BYND) Price Target to $5.00

Beyond Meat (NASDAQ:BYND) had its target price reduced by investment analysts 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 would suggest a potential upside of 58.23% from the company’s previous close.

Separately, Barclays lowered their price target 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 equities research analysts have rated the stock with a sell rating and two have given a hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Reduce” and a consensus price target of $4.92.

Beyond Meat Stock Performance

NASDAQ:BYND opened at $3.16 on Thursday. The company has a market cap of $206.04 million, a price-to-earnings ratio of -0.76 and a beta of 2.31. The stock’s fifty day moving average price is $3.86 and its two-hundred day moving average price is $5.11. Beyond Meat has a 52-week low of $3.10 and a 52-week high of $11.70.

Beyond Meat (NASDAQ:BYND) last issued its quarterly earnings results 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 analyst estimates of $76.08 million. On average, equities analysts predict that Beyond Meat will post -2.1 EPS for the current fiscal year.

Insider Activity at Beyond Meat

In related news, insider Ethan Brown sold 313,000 shares of the business’s stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $3.75, for a total transaction of $1,173,750.00. Following the completion of the transaction, the insider now owns 1,703,288 shares in the company, valued at approximately $6,387,330. The trade was a 15.52 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 8.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Beyond Meat

Hedge funds and other institutional investors have recently made changes to their positions in the company. Russell Investments Group Ltd. raised its stake in Beyond Meat by 305.1% during the 4th quarter. Russell Investments Group Ltd. now owns 7,887 shares of the company’s stock worth $30,000 after buying an additional 5,940 shares during the period. KLP Kapitalforvaltning AS bought a new stake in shares of Beyond Meat in the fourth quarter worth about $37,000. Ballentine Partners LLC acquired a new stake in shares of Beyond Meat during the fourth quarter worth about $39,000. Van ECK Associates Corp lifted its holdings in shares of Beyond Meat by 68.8% during the 4th quarter. Van ECK Associates Corp now owns 10,498 shares of the company’s stock valued at $39,000 after purchasing an additional 4,280 shares in the last quarter. Finally, Ameriprise Financial Inc. acquired a new position in shares of Beyond Meat in the 4th quarter valued at approximately $39,000. 52.48% of the stock is owned by institutional investors.

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.