Beyond Meat, Inc. (NASDAQ:BYND) Shares Sold by State Board of Administration of Florida Retirement System

State Board of Administration of Florida Retirement System lessened its holdings in shares of Beyond Meat, Inc. (NASDAQ:BYND – Get Rating) by 17.2% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 22,061 shares of the company’s stock after selling 4,590 shares during the period. State Board of Administration of Florida Retirement System’s holdings in Beyond Meat were worth $272,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in BYND. Raymond James & Associates grew its stake in shares of Beyond Meat by 47.6% in the 1st quarter. Raymond James & Associates now owns 22,013 shares of the company’s stock valued at $1,063,000 after purchasing an additional 7,094 shares during the last quarter. US Bancorp DE boosted its stake in shares of Beyond Meat by 12.5% in the first quarter. US Bancorp DE now owns 5,137 shares of the company’s stock valued at $248,000 after buying an additional 571 shares in the last quarter. MetLife Investment Management LLC acquired a new position in Beyond Meat during the first quarter worth $164,000. Vontobel Holding Ltd. raised its holdings in Beyond Meat by 27.3% during the first quarter. Vontobel Holding Ltd. now owns 33,205 shares of the company’s stock worth $1,604,000 after purchasing an additional 7,111 shares during the last quarter. Finally, Blair William & Co. IL raised its holdings in Beyond Meat by 14.7% during the first quarter. Blair William & Co. IL now owns 29,695 shares of the company’s stock worth $1,435,000 after purchasing an additional 3,796 shares during the last quarter. Institutional investors and hedge funds own 41.12% of the company’s stock.

Beyond Meat Stock Performance

BYND stock opened at $10.71 on Monday. Beyond Meat, Inc. has a 1 year low of $9.81 and a 1 year high of $44.59. The firm has a market cap of $687.90 million, a P/E ratio of -2.10 and a beta of 2.00. The stock has a 50-day simple moving average of $14.24 and a 200-day simple moving average of $14.87.

Beyond Meat (NASDAQ:BYND – Get Rating) last posted its earnings results on Wednesday, May 10th. The company reported ($0.92) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.01) by $0.09. The company had revenue of $92.24 million during the quarter, compared to analyst estimates of $92.07 million. During the same quarter last year, the business posted ($1.58) EPS. On average, equities research analysts predict that Beyond Meat, Inc. will post -3.3 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on BYND. BMO Capital Markets reduced their price objective on Beyond Meat from $16.00 to $14.00 in a report on Thursday, May 11th. Credit Suisse Group reissued an “underperform” rating and issued a $10.00 price target on shares of Beyond Meat in a report on Monday, February 27th. Sanford C. Bernstein boosted their price target on Beyond Meat from $10.00 to $18.00 and gave the stock a “market perform” rating in a report on Friday, February 24th. Finally, Mizuho cut their price target on Beyond Meat from $20.00 to $12.00 in a report on Friday, May 12th. Five investment analysts have rated the stock with a sell rating and six have issued a hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $14.33.

Beyond Meat Company Profile

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Beyond Meat, Inc engages in the provision of plant-based meats. Its products include ready-to-cook meat under The Beyond Burger and Beyond Sausage brands, and frozen meat, namely, Beyond Chicken Strips and Beyond Beef Crumbles. The company was founded by Ethan Walden Brown and Brent Taylor in 2009 and is headquartered in El Segundo, CA.