Mirae Asset Global Investments Co. Ltd. Sells 19,148 Shares of Beyond Meat, Inc. (NASDAQ:BYND)

Mirae Asset Global Investments Co. Ltd. trimmed its holdings in shares of Beyond Meat, Inc. (NASDAQ:BYND) by 32.5% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 39,773 shares of the company’s stock after selling 19,148 shares during the period. Mirae Asset Global Investments Co. Ltd. owned approximately 0.06% of Beyond Meat worth $354,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in BYND. Clear Street Markets LLC bought a new position in shares of Beyond Meat during the 3rd quarter worth about $31,000. 1620 Investment Advisors Inc. bought a new position in shares of Beyond Meat during the 3rd quarter worth about $84,000. Raymond James Financial Services Advisors Inc. acquired a new stake in shares of Beyond Meat during the 4th quarter worth about $93,000. Sigma Planning Corp acquired a new stake in shares of Beyond Meat during the 3rd quarter worth about $98,000. Finally, Arizona State Retirement System increased its position in shares of Beyond Meat by 9.4% during the 4th quarter. Arizona State Retirement System now owns 17,999 shares of the company’s stock worth $160,000 after purchasing an additional 1,541 shares in the last quarter. 52.48% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on BYND. Mizuho dropped their target price on shares of Beyond Meat from $7.00 to $6.00 and set an “underperform” rating for the company in a research report on Monday, April 22nd. BMO Capital Markets increased their target price on shares of Beyond Meat from $7.00 to $10.00 and gave the stock a “market perform” rating in a research report on Wednesday, February 28th. Argus upgraded shares of Beyond Meat from a “sell” rating to a “hold” rating in a research report on Thursday, February 29th. Finally, TD Cowen dropped their target price on shares of Beyond Meat from $10.00 to $6.00 and set a “sell” rating for the company in a research report on Wednesday, April 17th. Five research analysts have rated the stock with a sell rating and two have issued a hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Reduce” and an average price target of $5.83.

Beyond Meat Trading Up 0.9 %

BYND opened at $6.40 on Friday. The stock has a market capitalization of $413.95 million, a PE ratio of -1.22 and a beta of 2.41. Beyond Meat, Inc. has a 1-year low of $5.58 and a 1-year high of $19.25. The firm has a 50-day moving average price of $7.66 and a two-hundred day moving average price of $7.61.

Beyond Meat (NASDAQ:BYND) last posted its quarterly earnings data on Tuesday, February 27th. The company reported ($2.40) earnings per share for the quarter, missing the consensus estimate of ($0.82) by ($1.58). The business had revenue of $73.68 million for the quarter, compared to analysts’ expectations of $66.66 million. The company’s quarterly revenue was down 7.8% on a year-over-year basis. During the same period in the previous year, the firm earned ($1.05) EPS. On average, research analysts predict that Beyond Meat, Inc. will post -2.46 EPS for the current year.

Beyond Meat 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.