Farallon Capital Management LLC Takes Position in Beyond Meat, Inc. (NASDAQ:BYND)

Farallon Capital Management LLC acquired a new stake in shares of Beyond Meat, Inc. (NASDAQ:BYND) during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 19,000 shares of the company’s stock, valued at approximately $157,000.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in shares of Beyond Meat by 3.0% during the 1st quarter. Vanguard Group Inc. now owns 5,351,777 shares of the company’s stock valued at $44,313,000 after purchasing an additional 155,653 shares during the last quarter. Susquehanna Fundamental Investments LLC bought a new position in shares of Beyond Meat during the 1st quarter valued at $902,000. Arbor Capital Management Inc. ADV bought a new position in shares of Beyond Meat during the 4th quarter valued at $752,000. SG Americas Securities LLC grew its holdings in shares of Beyond Meat by 312.6% during the 1st quarter. SG Americas Securities LLC now owns 102,947 shares of the company’s stock valued at $852,000 after purchasing an additional 77,996 shares during the last quarter. Finally, Cowen AND Company LLC bought a new position in shares of Beyond Meat during the 4th quarter valued at $623,000. Hedge funds and other institutional investors own 52.48% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on BYND shares. TD Cowen cut their price target on shares of Beyond Meat from $10.00 to $6.00 and set a “sell” rating on the stock in a report on Wednesday, April 17th. Mizuho cut their price target on shares of Beyond Meat from $7.00 to $6.00 and set an “underperform” rating on the stock in a report on Monday, April 22nd. Canaccord Genuity Group cut their price target on shares of Beyond Meat from $9.00 to $7.00 and set a “hold” rating on the stock in a report on Friday, May 10th. The Goldman Sachs Group cut their price target on shares of Beyond Meat from $4.00 to $3.50 and set a “sell” rating on the stock in a report on Thursday, May 9th. Finally, BMO Capital Markets cut their price target on shares of Beyond Meat from $10.00 to $9.00 and set a “market perform” rating on the stock in a report on Thursday, May 9th. Six analysts have rated the stock with a sell rating and three have issued a hold rating to the company’s stock. According to data from MarketBeat, Beyond Meat has an average rating of “Reduce” and an average price target of $5.56.

Beyond Meat Trading Down 8.8 %

NASDAQ BYND traded down $0.54 during trading hours on Friday, reaching $5.60. 2,692,243 shares of the company’s stock traded hands, compared to its average volume of 2,715,095. Beyond Meat, Inc. has a 52-week low of $5.50 and a 52-week high of $16.38. The firm has a 50-day simple moving average of $6.77 and a 200 day simple moving average of $7.19.

Beyond Meat (NASDAQ:BYND) last issued its quarterly earnings results on Wednesday, May 8th. The company reported ($0.72) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.67) by ($0.05). The company had revenue of $75.60 million for the quarter, compared to the consensus estimate of $75.24 million. During the same period in the prior year, the business posted ($0.92) earnings per share. Beyond Meat’s revenue for the quarter was down 18.0% compared to the same quarter last year. As a group, sell-side analysts expect that Beyond Meat, Inc. will post -2.11 EPS for the current fiscal year.

Beyond Meat Company Profile

Beyond Meat, Inc, a plant-based meat company, develops, 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 stores, and natural retailer channels, as well as various food-away-from-home channels, including restaurants, foodservice outlets, and schools.