Wealthfront Advisers LLC Purchases New Stake in Beyond Meat, Inc. (NASDAQ:BYND)

Wealthfront Advisers LLC purchased a new stake in shares of Beyond Meat, Inc. (NASDAQ:BYND) in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 10,627 shares of the company’s stock, valued at approximately $40,000.

Several other institutional investors also recently added to or reduced their stakes in BYND. Intech Investment Management LLC bought a new position in Beyond Meat during the third quarter valued at about $128,000. Charles Schwab Investment Management Inc. grew its position in Beyond Meat by 1.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 522,894 shares of the company’s stock valued at $3,545,000 after buying an additional 7,332 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Beyond Meat by 16.7% during the third 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. Ballentine Partners LLC bought a new position in Beyond Meat during the fourth quarter valued at about $39,000. Finally, Zweig DiMenna Associates LLC bought a new position in Beyond Meat during the fourth quarter valued at about $1,746,000. Institutional investors own 52.48% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on BYND shares. BMO Capital Markets cut their target price on shares of Beyond Meat from $6.00 to $5.00 and set a “market perform” rating for the company in a research report on Thursday, February 27th. Barclays cut their target price 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, February 27th. Four research analysts have rated the stock with a sell rating and two have assigned a hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Reduce” and a consensus target price of $4.92.

Beyond Meat Trading Up 0.3 %

Shares of Beyond Meat stock opened at $3.53 on Wednesday. Beyond Meat, Inc. has a 12-month low of $2.86 and a 12-month high of $10.31. The company has a market cap of $268.74 million, a price-to-earnings ratio of -0.84 and a beta of 2.36. The company’s 50-day moving average price is $3.74 and its 200-day moving average price is $4.85.

Beyond Meat (NASDAQ:BYND) last announced its earnings results on Wednesday, February 26th. The company reported ($0.65) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.44) by ($0.21). The company had revenue of $76.66 million for the quarter, compared to analyst estimates of $76.08 million. On average, sell-side analysts predict that Beyond Meat, Inc. will post -2.1 earnings per share for the current year.

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.