Vanguard Group Inc. Cuts Position in Beyond Meat, Inc. (NASDAQ:BYND)

Vanguard Group Inc. reduced its position in shares of Beyond Meat, Inc. (NASDAQ:BYND) by 0.8% in the 4th quarter, Holdings Channel.com reports. The firm owned 4,215,960 shares of the company’s stock after selling 34,488 shares during the period. Vanguard Group Inc. owned about 0.06% of Beyond Meat worth $15,852,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the business. KLP Kapitalforvaltning AS acquired a new position in Beyond Meat in the fourth quarter valued at $37,000. Virtu Financial LLC purchased a new position in shares of Beyond Meat during the fourth quarter worth about $56,000. Intech Investment Management LLC increased its position in Beyond Meat by 35.6% in the 4th quarter. Intech Investment Management LLC now owns 25,656 shares of the company’s stock valued at $96,000 after acquiring an additional 6,731 shares during the period. Wealthfront Advisers LLC purchased a new stake in Beyond Meat during the 4th quarter valued at approximately $40,000. Finally, Raymond James Financial Inc. purchased a new position in shares of Beyond Meat in the 4th quarter valued at approximately $49,000. 52.48% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

BYND has been the subject of several recent analyst reports. BMO Capital Markets reduced 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 note on Thursday, February 27th. Barclays cut their price target on shares of Beyond Meat from $4.00 to $3.00 and set an “underweight” rating for the company in a report on Thursday, February 27th. Three analysts have rated the stock with a sell rating and two have issued a hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Reduce” and a consensus price target of $4.70.

Beyond Meat Stock Up 7.8 %

Shares of NASDAQ BYND opened at $2.76 on Friday. The firm has a fifty day moving average of $3.30 and a 200-day moving average of $4.32. The stock has a market capitalization of $210.81 million, a PE ratio of -0.66 and a beta of 2.38. Beyond Meat, Inc. has a 52-week low of $2.50 and a 52-week high of $10.31.

Beyond Meat (NASDAQ:BYND) last released its quarterly 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 business had revenue of $76.66 million during the quarter, compared to analysts’ expectations of $76.08 million. Equities research analysts expect that Beyond Meat, Inc. will post -2.1 EPS for the current fiscal year.

Beyond Meat Profile

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.