Raymond James & Associates Makes New $1.46 Million Investment in Beyond Meat, Inc. (NASDAQ:BYND)

Raymond James & Associates acquired a new position in shares of Beyond Meat, Inc. (NASDAQ:BYND) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 217,963 shares of the company’s stock, valued at approximately $1,463,000. Raymond James & Associates owned approximately 0.34% of Beyond Meat as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. SG Americas Securities LLC grew its position in Beyond Meat by 141.8% during the 2nd quarter. SG Americas Securities LLC now owns 248,921 shares of the company’s stock worth $1,670,000 after purchasing an additional 145,974 shares in the last quarter. Farallon Capital Management LLC purchased a new position in shares of Beyond Meat during the 1st quarter valued at $157,000. Bayesian Capital Management LP purchased a new position in shares of Beyond Meat during the 1st quarter valued at $514,000. Price T Rowe Associates Inc. MD grew its holdings in shares of Beyond Meat by 9.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 33,104 shares of the company’s stock valued at $275,000 after acquiring an additional 2,790 shares in the last quarter. Finally, Quadrature Capital Ltd purchased a new position in shares of Beyond Meat during the 1st quarter valued at $309,000. 52.48% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Canaccord Genuity Group lowered 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. BMO Capital Markets lowered their price target on shares of Beyond Meat from $9.00 to $6.00 and set a “market perform” rating on the stock in a report on Thursday, August 8th. The Goldman Sachs Group lowered 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, Mizuho lowered their price target on shares of Beyond Meat from $6.00 to $5.00 and set an “underperform” rating on the stock in a report on Monday, August 26th. Six research 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.com, the company currently has an average rating of “Reduce” and an average price target of $5.06.

Beyond Meat Trading Down 0.7 %

Shares of NASDAQ:BYND opened at $5.95 on Thursday. The stock has a market capitalization of $386.07 million, a PE ratio of -1.15 and a beta of 2.25. Beyond Meat, Inc. has a 1 year low of $5.13 and a 1 year high of $12.12. The firm has a fifty day moving average price of $6.32 and a 200 day moving average price of $7.06.

Beyond Meat (NASDAQ:BYND) last released its earnings results on Wednesday, August 7th. The company reported ($0.53) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.51) by ($0.02). The business had revenue of $93.19 million for the quarter, compared to analysts’ expectations of $87.81 million. Beyond Meat’s revenue was down 8.8% on a year-over-year basis. During the same period last year, the company posted ($0.83) earnings per share. On average, sell-side analysts forecast that Beyond Meat, Inc. will post -2.12 earnings per share 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.