Research analysts at BNP Paribas began coverage on shares of Beyond Meat (NASDAQ:BYND) in a research note issued to investors on Monday, BenzingaRatingsTable reports. The firm set an “underperform” rating on the stock.
BYND has been the topic of a number of other research reports. Sanford C. Bernstein cut Beyond Meat from an “outperform” rating to a “market perform” rating and set a $123.00 price target on the stock. in a report on Wednesday, June 12th. They noted that the move was a valuation call. Credit Suisse Group increased their price objective on shares of Beyond Meat from $70.00 to $125.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 9th. Barclays initiated coverage on shares of Beyond Meat in a research note on Thursday, September 19th. They issued an “overweight” rating and a $185.00 price objective for the company. DA Davidson assumed coverage on shares of Beyond Meat in a research report on Thursday, September 5th. They issued an “underperform” rating and a $130.00 price target on the stock. Finally, JPMorgan Chase & Co. upgraded shares of Beyond Meat from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $188.00 to $189.00 in a research note on Tuesday, August 20th. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $139.24.
Shares of BYND opened at $142.99 on Monday. The company has a current ratio of 8.95, a quick ratio of 7.90 and a debt-to-equity ratio of 0.07. The firm has a 50 day simple moving average of $156.59. Beyond Meat has a 12 month low of $45.00 and a 12 month high of $239.71.
In other news, CFO Mark Joseph Nelson sold 64,452 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $160.00, for a total transaction of $10,312,320.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Perkins Caufield & Bye Kleiner sold 723,862 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $154.00, for a total value of $111,474,748.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 821,957 shares of company stock valued at $127,169,948.
A number of large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. bought a new position in Beyond Meat in the 2nd quarter valued at $169,339,000. Blackstone Group Inc bought a new position in shares of Beyond Meat during the 2nd quarter worth $161,317,000. BlackRock Inc. bought a new stake in Beyond Meat during the second quarter valued at about $68,864,000. Jefferies Group LLC bought a new stake in Beyond Meat during the second quarter valued at about $24,102,000. Finally, OZ Management LP bought a new stake in Beyond Meat during the second quarter valued at about $11,858,000. Institutional investors own 9.44% of the company’s stock.
About Beyond Meat
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.
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