First Trust Direct Indexing L.P. Buys Shares of 18,776 Beyond Meat, Inc. (NASDAQ:BYND)

First Trust Direct Indexing L.P. bought a new stake in Beyond Meat, Inc. (NASDAQ:BYND) in the 4th quarter, according to its most recent disclosure with the SEC. The fund bought 18,776 shares of the company’s stock, valued at approximately $167,000.

Other institutional investors also recently bought and sold shares of the company. Headlands Technologies LLC purchased a new stake in Beyond Meat during the fourth quarter worth approximately $99,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Beyond Meat by 63.5% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 61,222 shares of the company’s stock worth $545,000 after purchasing an additional 23,770 shares during the last quarter. Arizona State Retirement System lifted its stake in Beyond Meat by 9.4% during the fourth 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 during the last quarter. Raymond James Financial Services Advisors Inc. purchased a new stake in Beyond Meat during the fourth quarter worth approximately $93,000. Finally, Raymond James & Associates purchased a new stake in Beyond Meat during the fourth quarter worth approximately $209,000. 52.48% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. TD Cowen decreased their target price on Beyond Meat from $10.00 to $6.00 and set a “sell” rating for the company in a research note on Wednesday, April 17th. Mizuho reduced their price objective on Beyond Meat from $7.00 to $6.00 and set an “underperform” rating for the company in a research note on Monday, April 22nd. Argus upgraded Beyond Meat from a “sell” rating to a “hold” rating in a research note on Thursday, February 29th. Finally, BMO Capital Markets boosted their price objective on Beyond Meat from $7.00 to $10.00 and gave the company a “market perform” rating in a research note on Wednesday, February 28th. Five research analysts have rated the stock with a sell rating and two have given a hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and an average price target of $5.83.

Beyond Meat Trading Down 0.8 %

Shares of NASDAQ BYND opened at $8.21 on Thursday. The stock has a market cap of $531.02 million, a P/E ratio of -1.57 and a beta of 2.42. The stock has a 50 day moving average of $7.64 and a two-hundred day moving average of $7.58. Beyond Meat, Inc. has a twelve month low of $5.58 and a twelve month high of $19.25.

Beyond Meat (NASDAQ:BYND) last released its 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 firm had revenue of $75.60 million during the quarter, compared to analyst estimates of $75.24 million. The company’s revenue for the quarter was down 18.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.92) earnings per share. As a group, research analysts predict that Beyond Meat, Inc. will post -2.29 earnings per share for the current 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.