Beyond Meat (NASDAQ:BYND) Announces Earnings Results

Beyond Meat (NASDAQ:BYNDGet Rating) released its quarterly earnings data on Wednesday. The company reported ($1.58) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.01) by ($0.57), MarketWatch Earnings reports. Beyond Meat had a negative return on equity of 84.30% and a negative net margin of 39.19%. During the same quarter last year, the business posted ($0.42) earnings per share. Beyond Meat updated its FY 2022 guidance to EPS.

NASDAQ BYND opened at $26.11 on Friday. Beyond Meat has a 12 month low of $20.50 and a 12 month high of $160.28. The company has a current ratio of 11.17, a quick ratio of 8.60 and a debt-to-equity ratio of 8.53. The company’s fifty day moving average price is $42.31 and its two-hundred day moving average price is $59.70.

Several equities research analysts have recently issued reports on BYND shares. UBS Group started coverage on shares of Beyond Meat in a research report on Wednesday, March 30th. They issued a “neutral” rating and a $48.00 price objective for the company. The Goldman Sachs Group dropped their price objective on shares of Beyond Meat from $47.00 to $40.00 and set a “sell” rating for the company in a research report on Monday, March 7th. Piper Sandler dropped their price objective on shares of Beyond Meat from $29.00 to $12.00 in a research report on Thursday. Mizuho dropped their price objective on shares of Beyond Meat from $35.00 to $21.00 in a research report on Thursday. Finally, Cowen dropped their price objective on shares of Beyond Meat from $42.00 to $26.00 in a research report on Thursday. Six equities research analysts have rated the stock with a sell rating and twelve have assigned a hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $44.82.

In other Beyond Meat news, Director Diane Carhart sold 5,048 shares of the stock in a transaction on Wednesday, April 13th. The shares were sold at an average price of $43.20, for a total transaction of $218,073.60. Following the transaction, the director now directly owns 1,540 shares in the company, valued at approximately $66,528. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 7.90% of the company’s stock.

Several institutional investors have recently bought and sold shares of the company. State Street Corp lifted its position in shares of Beyond Meat by 0.6% in the 4th quarter. State Street Corp now owns 825,878 shares of the company’s stock worth $53,814,000 after buying an additional 5,241 shares during the last quarter. Morgan Stanley lifted its position in Beyond Meat by 27.3% in the 2nd quarter. Morgan Stanley now owns 426,618 shares of the company’s stock valued at $67,189,000 after purchasing an additional 91,460 shares during the last quarter. Deutsche Bank AG lifted its position in Beyond Meat by 17.6% in the 4th quarter. Deutsche Bank AG now owns 341,589 shares of the company’s stock valued at $22,258,000 after purchasing an additional 51,029 shares during the last quarter. Thrivent Financial for Lutherans bought a new stake in Beyond Meat in the 4th quarter valued at about $12,699,000. Finally, Millennium Management LLC lifted its position in Beyond Meat by 175.8% in the 4th quarter. Millennium Management LLC now owns 184,196 shares of the company’s stock valued at $12,002,000 after purchasing an additional 117,407 shares during the last quarter. Institutional investors own 67.15% of the company’s stock.

About Beyond Meat (Get Rating)

Beyond Meat, Inc 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 store, convenience store and natural retailer channels, and direct-to-consumer, as well as various food-away-from-home channels, including restaurants, foodservice outlets, and schools.

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Earnings History for Beyond Meat (NASDAQ:BYND)

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