Shares of Beyond Meat (NASDAQ:BYND) gapped down before the market opened on Monday after Sanford C. Bernstein lowered their price target on the stock from $172.00 to $130.00. The stock had previously closed at $104.98, but opened at $109.99. Sanford C. Bernstein currently has a market perform rating on the stock. Beyond Meat shares last traded at $109.46, with a volume of 2,658,684 shares changing hands.
BYND has been the subject of several other reports. BNP Paribas initiated coverage on Beyond Meat in a research report on Monday, September 23rd. They set an “underperform” rating for the company. Barclays assumed coverage on Beyond Meat in a report on Thursday, September 19th. They issued an “overweight” rating and a $185.00 price objective on the stock. DA Davidson assumed coverage on Beyond Meat in a report on Thursday, September 5th. They issued an “underperform” rating and a $130.00 price objective on the stock. Wells Fargo & Co assumed coverage on Beyond Meat in a report on Monday, October 14th. They issued a “market perform” rating and a $125.00 price objective on the stock. They noted that the move was a valuation call. Finally, JPMorgan Chase & Co. raised Beyond Meat from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $188.00 to $189.00 in a report on Tuesday, August 20th. Four analysts have rated the stock with a sell rating, eight have given a hold rating and three have assigned a buy rating to the stock. Beyond Meat presently has a consensus rating of “Hold” and a consensus target price of $134.36.
In other Beyond Meat news, major shareholder Perkins Caufield & Bye Kleiner sold 723,862 shares of the business’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $154.00, for a total transaction of $111,474,748.00. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Charles Muth sold 24,574 shares of the business’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $160.00, for a total value of $3,931,840.00. The disclosure for this sale can be found here. Insiders sold 821,957 shares of company stock worth $127,169,948 over the last ninety days.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. acquired a new position in Beyond Meat during the second quarter worth $11,412,000. Commonwealth Equity Services LLC acquired a new position in Beyond Meat during the second quarter worth $1,057,000. Advisor Group Inc. acquired a new position in Beyond Meat during the second quarter worth $362,000. Apriem Advisors acquired a new position in Beyond Meat during the second quarter worth $254,000. Finally, Flagship Harbor Advisors LLC acquired a new position in Beyond Meat during the second quarter worth $64,000. 9.51% of the stock is currently owned by institutional investors.
The business has a 50 day simple moving average of $148.25. The company has a quick ratio of 7.90, a current ratio of 8.95 and a debt-to-equity ratio of 0.07.
Beyond Meat (NASDAQ:BYND) last released its quarterly earnings data on Monday, July 29th. The company reported $0.01 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.08) by $0.09. The company had revenue of $67.25 million for the quarter, compared to analyst estimates of $50.94 million. On average, research analysts anticipate that Beyond Meat will post -0.22 earnings per share for the current fiscal year.
Beyond Meat Company Profile (NASDAQ:BYND)
Beyond Meat, Inc, a food company, manufactures, markets, and sells plant-based meat products in the United States and internationally. The company sells its products under the Beyond Beef, Beyond Chicken, The Beyond Burger, Beyond Meat, Beyond Sausage, Eat What You Love, and The Cookout Classic brand names.
Recommended Story: Market Capitalization and Individual Investors
Receive News & Ratings for Beyond Meat Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Beyond Meat and related companies with MarketBeat.com's FREE daily email newsletter.