Key Points
- CFO Lubi Kutua sold 419,042 shares on April 13 at an average price of $0.60 for about $251,425, lowering her holdings to 5,749,967 shares (a 6.79% decrease); the sale was made under a pre-arranged Rule 10b5-1 trading plan.
- Beyond Meat recently missed quarterly expectations (EPS $(0.29) vs $(0.12) expected; revenue $61.6M vs $63M) and faces negative analyst sentiment—a consensus rating of "Strong Sell" with an average target of $0.83 and several price-target cuts.
Beyond Meat, Inc. (NASDAQ:BYND - Get Free Report) CFO Lubi Kutua sold 419,042 shares of the stock in a transaction on Monday, April 13th. The stock was sold at an average price of $0.60, for a total value of $251,425.20. Following the transaction, the chief financial officer owned 5,749,967 shares of the company's stock, valued at approximately $3,449,980.20. This represents a 6.79% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Beyond Meat Trading Up 4.3%
NASDAQ BYND opened at $0.75 on Thursday. The stock has a market cap of $348.18 million, a PE ratio of -0.26 and a beta of 2.67. Beyond Meat, Inc. has a twelve month low of $0.50 and a twelve month high of $7.69. The stock has a fifty day simple moving average of $0.71 and a 200-day simple moving average of $1.07.
Beyond Meat (NASDAQ:BYND - Get Free Report) last released its quarterly earnings results on Tuesday, March 31st. The company reported ($0.29) earnings per share for the quarter, missing analysts' consensus estimates of ($0.12) by ($0.17). The business had revenue of $61.59 million for the quarter, compared to analysts' expectations of $63.00 million. Beyond Meat had a negative return on equity of 37.44% and a net margin of 43.98%. Research analysts predict that Beyond Meat, Inc. will post -2.1 EPS for the current year.
Hedge Funds Weigh In On Beyond Meat
A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Geode Capital Management LLC boosted its holdings in Beyond Meat by 445.0% during the 4th quarter. Geode Capital Management LLC now owns 9,927,157 shares of the company's stock valued at $8,142,000 after acquiring an additional 8,105,718 shares during the period. UBS Group AG boosted its holdings in Beyond Meat by 674.8% during the 4th quarter. UBS Group AG now owns 9,788,528 shares of the company's stock valued at $8,027,000 after acquiring an additional 8,525,183 shares during the period. Vanguard Group Inc. boosted its holdings in Beyond Meat by 1.5% during the 3rd quarter. Vanguard Group Inc. now owns 4,780,045 shares of the company's stock valued at $9,034,000 after acquiring an additional 69,423 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in Beyond Meat by 497.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,383,511 shares of the company's stock valued at $2,774,000 after acquiring an additional 2,816,778 shares during the period. Finally, Vontobel Holding Ltd. boosted its holdings in Beyond Meat by 38.0% during the 3rd quarter. Vontobel Holding Ltd. now owns 2,917,994 shares of the company's stock valued at $5,515,000 after acquiring an additional 804,125 shares during the period. 52.48% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
A number of equities analysts have recently weighed in on the company. BMO Capital Markets lowered their price target on Beyond Meat from $4.00 to $1.00 and set a "market perform" rating for the company in a report on Monday, April 6th. Zacks Research cut Beyond Meat from a "hold" rating to a "strong sell" rating in a report on Tuesday, April 7th. Barclays lowered their target price on Beyond Meat from $1.00 to $0.50 and set an "underweight" rating for the company in a report on Thursday, April 2nd. Finally, Weiss Ratings restated a "sell (e+)" rating on shares of Beyond Meat in a report on Wednesday, January 21st. Two investment analysts have rated the stock with a Hold rating and seven have given a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Strong Sell" and an average target price of $0.83.
Check Out Our Latest Research Report on Beyond Meat
About Beyond Meat
(
Get Free Report)
Beyond Meat, Inc (NASDAQ: BYND) develops, manufactures and sells plant-based meat substitutes designed to replicate the taste, texture and appearance of animal-based proteins. Since its founding in 2009 by Ethan Brown and initial public offering in 2019, the company has focused on leveraging proprietary technology and ingredient blends to produce a suite of products that cater to both retail and foodservice channels. Beyond Meat's mission centers on offering more sustainable protein options by reducing reliance on livestock farming and its associated environmental footprint.
The company's product portfolio includes Beyond Burger, Beyond Sausage, Beyond Beef and Beyond Chicken, each formulated to appeal to a broad range of consumers seeking meat alternatives without compromising on flavor or cooking versatility.
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