Beyond Meat, Inc. (NASDAQ:BYND) Shares Sold by Advisory Services Network LLC

Advisory Services Network LLC lessened its stake in Beyond Meat, Inc. (NASDAQ:BYND) by 14.7% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,104 shares of the company’s stock after selling 362 shares during the period. Advisory Services Network LLC’s holdings in Beyond Meat were worth $221,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in BYND. Baillie Gifford & Co. boosted its stake in shares of Beyond Meat by 2.1% during the 3rd quarter. Baillie Gifford & Co. now owns 8,559,271 shares of the company’s stock worth $900,948,000 after acquiring an additional 174,778 shares in the last quarter. Vanguard Group Inc. lifted its stake in Beyond Meat by 13.2% in the 2nd quarter. Vanguard Group Inc. now owns 4,456,953 shares of the company’s stock valued at $701,926,000 after buying an additional 519,411 shares in the last quarter. BlackRock Inc. lifted its stake in Beyond Meat by 0.6% in the 2nd quarter. BlackRock Inc. now owns 2,228,559 shares of the company’s stock valued at $350,976,000 after buying an additional 14,286 shares in the last quarter. State Street Corp lifted its stake in Beyond Meat by 33.3% in the 2nd quarter. State Street Corp now owns 781,146 shares of the company’s stock valued at $123,023,000 after buying an additional 195,216 shares in the last quarter. Finally, Ninety One UK Ltd purchased a new stake in Beyond Meat in the 3rd quarter valued at approximately $74,665,000. Institutional investors own 59.04% of the company’s stock.

BYND stock opened at $66.58 on Friday. The company has a market cap of $4.21 billion, a price-to-earnings ratio of -33.12 and a beta of 1.57. The company has a quick ratio of 12.92, a current ratio of 15.52 and a debt-to-equity ratio of 5.45. The business has a fifty day simple moving average of $72.57 and a 200-day simple moving average of $102.40. Beyond Meat, Inc. has a 52 week low of $58.00 and a 52 week high of $221.00.

Beyond Meat (NASDAQ:BYND) last announced its quarterly earnings results on Wednesday, November 10th. The company reported ($0.87) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.39) by ($0.48). Beyond Meat had a negative net margin of 27.22% and a negative return on equity of 44.64%. The company had revenue of $106.43 million during the quarter, compared to analyst estimates of $106.13 million. During the same quarter in the prior year, the company posted ($0.28) earnings per share. As a group, analysts expect that Beyond Meat, Inc. will post -2.31 earnings per share for the current fiscal year.

A number of equities research analysts recently issued reports on the company. Cowen reduced their target price on Beyond Meat from $101.00 to $79.00 and set a “market perform” rating on the stock in a research note on Monday, November 15th. Piper Sandler raised Beyond Meat from an “underweight” rating to a “neutral” rating and upped their target price for the company from $61.00 to $64.00 in a research note on Monday, December 13th. The Goldman Sachs Group reduced their price target on Beyond Meat from $85.00 to $74.00 and set a “sell” rating on the stock in a research note on Thursday, November 11th. Credit Suisse Group reduced their price target on Beyond Meat from $75.00 to $60.00 and set an “underperform” rating on the stock in a research note on Thursday, November 11th. Finally, Zacks Investment Research raised Beyond Meat from a “strong sell” rating to a “hold” rating in a research note on Tuesday. Eight investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $92.19.

In related news, insider Teri L. Witteman sold 7,880 shares of the stock in a transaction on Friday, December 10th. The stock was sold at an average price of $64.26, for a total value of $506,368.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 8.90% of the stock is currently owned by corporate insiders.

About Beyond Meat

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.

Featured Story: Dividend Stocks – Are They Right For You?

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

Receive News & Ratings for Beyond Meat Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Beyond Meat and related companies with MarketBeat.com's FREE daily email newsletter.