Beyond Meat (NASDAQ:BYND) Given New $22.00 Price Target at Canaccord Genuity Group

Beyond Meat (NASDAQ:BYNDGet Rating) had its price target decreased by Canaccord Genuity Group from $30.00 to $22.00 in a report published on Thursday, The Fly reports.

Several other equities research analysts have also recently issued reports on the stock. Mizuho raised their target price on shares of Beyond Meat from $21.00 to $27.00 and gave the stock a neutral rating in a report on Monday, August 8th. Bank of America dropped their target price on shares of Beyond Meat from $20.00 to $10.00 and set an underperform rating on the stock in a report on Friday, August 5th. Piper Sandler dropped their target price on shares of Beyond Meat from $9.00 to $8.00 and set an underweight rating on the stock in a report on Wednesday. UBS Group raised their target price on shares of Beyond Meat from $20.00 to $30.00 and gave the stock a neutral rating in a report on Friday, August 5th. Finally, Barclays raised their target price on shares of Beyond Meat from $25.00 to $30.00 and gave the stock an equal weight rating in a report on Monday, August 8th. Six research analysts have rated the stock with a sell rating and ten have assigned a hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of Hold and a consensus price target of $40.47.

Beyond Meat Price Performance

Shares of BYND opened at $15.25 on Thursday. The company has a market capitalization of $970.94 million, a P/E ratio of -2.90 and a beta of 1.86. The company has a quick ratio of 5.16, a current ratio of 7.48 and a debt-to-equity ratio of 27.60. The firm has a 50 day moving average of $28.94 and a 200 day moving average of $32.71. Beyond Meat has a twelve month low of $14.61 and a twelve month high of $115.03.

Beyond Meat (NASDAQ:BYNDGet Rating) last announced its quarterly earnings results on Thursday, August 4th. The company reported ($1.53) earnings per share for the quarter, missing the consensus estimate of ($1.22) by ($0.31). The firm had revenue of $147.00 million for the quarter, compared to the consensus estimate of $149.08 million. Beyond Meat had a negative net margin of 71.78% and a negative return on equity of 400.17%. Beyond Meat’s revenue was down 1.6% on a year-over-year basis. During the same period last year, the business earned ($0.31) EPS. As a group, equities research analysts anticipate that Beyond Meat will post -5.26 earnings per share for the current fiscal year.

Insider Activity at Beyond Meat

In related news, insider Beth Moskowitz sold 773 shares of Beyond Meat stock in a transaction on Monday, August 8th. The shares were sold at an average price of $42.70, for a total transaction of $33,007.10. Following the transaction, the insider now owns 24,358 shares in the company, valued at approximately $1,040,086.60. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 7.90% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Federated Hermes Inc. purchased a new position in shares of Beyond Meat during the 2nd quarter valued at $106,000. Brown Advisory Inc. increased its holdings in Beyond Meat by 49.2% in the 2nd quarter. Brown Advisory Inc. now owns 8,974 shares of the company’s stock valued at $215,000 after acquiring an additional 2,960 shares during the last quarter. Captrust Financial Advisors increased its holdings in Beyond Meat by 48.6% in the 2nd quarter. Captrust Financial Advisors now owns 1,746 shares of the company’s stock valued at $42,000 after acquiring an additional 571 shares during the last quarter. Legal & General Group Plc increased its holdings in Beyond Meat by 7.0% in the 2nd quarter. Legal & General Group Plc now owns 55,367 shares of the company’s stock valued at $1,325,000 after acquiring an additional 3,616 shares during the last quarter. Finally, Chilton Investment Co. Inc. bought a new stake in Beyond Meat in the 2nd quarter valued at $798,000. Hedge funds and other institutional investors own 60.98% of the company’s stock.

Beyond Meat Company Profile

(Get Rating)

Beyond Meat, Inc 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 store, convenience store and natural retailer channels, and direct-to-consumer, as well as various food-away-from-home channels, including restaurants, foodservice outlets, and schools.

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