Centaurus Financial Inc. Acquires New Holdings in Beyond Meat, Inc. (NASDAQ:BYND)

Centaurus Financial Inc. bought a new position in Beyond Meat, Inc. (NASDAQ:BYND) in the second quarter, Holdings Channel.com reports. The institutional investor bought 656 shares of the company’s stock, valued at approximately $103,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Maryland State Retirement & Pension System grew its position in shares of Beyond Meat by 6.6% in the 2nd quarter. Maryland State Retirement & Pension System now owns 4,241 shares of the company’s stock worth $617,000 after buying an additional 261 shares during the last quarter. Geode Capital Management LLC boosted its stake in Beyond Meat by 4.0% in the first quarter. Geode Capital Management LLC now owns 634,399 shares of the company’s stock valued at $82,547,000 after acquiring an additional 24,273 shares in the last quarter. Blackhawk Capital Partners LLC. purchased a new position in Beyond Meat in the first quarter worth $1,178,000. Avestar Capital LLC acquired a new position in shares of Beyond Meat during the second quarter worth $1,132,000. Finally, CIBC Private Wealth Group LLC lifted its holdings in shares of Beyond Meat by 664.4% during the 1st quarter. CIBC Private Wealth Group LLC now owns 13,645 shares of the company’s stock valued at $1,776,000 after purchasing an additional 11,860 shares during the last quarter. 51.57% of the stock is owned by institutional investors and hedge funds.

NASDAQ BYND opened at $112.95 on Friday. The stock has a 50-day simple moving average of $121.62 and a two-hundred day simple moving average of $130.24. The company has a current ratio of 17.68, a quick ratio of 15.36 and a debt-to-equity ratio of 4.42. Beyond Meat, Inc. has a fifty-two week low of $99.86 and a fifty-two week high of $221.00.

Beyond Meat (NASDAQ:BYND) last posted its earnings results on Thursday, August 5th. The company reported ($0.31) EPS for the quarter, missing the consensus estimate of ($0.23) by ($0.08). Beyond Meat had a negative return on equity of 26.78% and a negative net margin of 20.11%. The company had revenue of $149.43 million for the quarter, compared to analyst estimates of $140.24 million. During the same period last year, the business earned ($0.02) earnings per share. On average, research analysts anticipate that Beyond Meat, Inc. will post -1.34 earnings per share for the current year.

Several research analysts recently issued reports on the company. Credit Suisse Group upped their target price on Beyond Meat from $120.00 to $123.00 and gave the company a “neutral” rating in a research report on Friday, May 28th. Cowen assumed coverage on shares of Beyond Meat in a report on Friday, September 10th. They set a “market perform” rating and a $124.00 price objective on the stock. Sanford C. Bernstein lifted their target price on shares of Beyond Meat from $130.00 to $178.00 and gave the stock an “outperform” rating in a research note on Wednesday, June 16th. Piper Sandler downgraded shares of Beyond Meat from a “neutral” rating to an “underweight” rating and dropped their target price for the stock from $120.00 to $95.00 in a research report on Wednesday. Finally, Argus cut shares of Beyond Meat from a “buy” rating to a “hold” rating in a report on Wednesday, August 25th. Eight research analysts have rated the stock with a sell rating, nine have issued a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, Beyond Meat currently has a consensus rating of “Hold” and a consensus price target of $124.00.

Beyond Meat Company Profile

Beyond Meat, Inc engages in the provision of plant-based meats. Its products include ready-to-cook meat under the brands The Beyond Burger and Beyond Sausage; 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.

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Institutional Ownership by Quarter for Beyond Meat (NASDAQ:BYND)

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