Vanguard Group Inc. Sells 34,488 Shares of Beyond Meat, Inc. (NASDAQ:BYND)

Vanguard Group Inc. lessened its position in shares of Beyond Meat, Inc. (NASDAQ:BYND) by 0.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,215,960 shares of the company’s stock after selling 34,488 shares during the quarter. Vanguard Group Inc. owned about 6.47% of Beyond Meat worth $15,852,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the company. KLP Kapitalforvaltning AS purchased a new position in shares of Beyond Meat in the 4th quarter worth $37,000. Virtu Financial LLC bought a new stake in Beyond Meat in the fourth quarter worth $56,000. Intech Investment Management LLC boosted its stake in shares of Beyond Meat by 35.6% during the 4th quarter. Intech Investment Management LLC now owns 25,656 shares of the company’s stock worth $96,000 after purchasing an additional 6,731 shares during the period. Wealthfront Advisers LLC bought a new position in shares of Beyond Meat during the fourth quarter valued at approximately $40,000. Finally, Raymond James Financial Inc. purchased a new stake in Beyond Meat in the fourth quarter worth $49,000. 52.48% of the stock is owned by hedge funds and other institutional investors.

Beyond Meat Stock Up 7.8 %

Beyond Meat stock opened at $2.76 on Friday. The company has a fifty day simple moving average of $3.30 and a 200-day simple moving average of $4.32. The firm has a market capitalization of $210.81 million, a price-to-earnings ratio of -0.66 and a beta of 2.38. Beyond Meat, Inc. has a 52-week low of $2.50 and a 52-week high of $10.31.

Beyond Meat (NASDAQ:BYND) last announced its quarterly earnings data on Wednesday, February 26th. The company reported ($0.65) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.44) by ($0.21). The company had revenue of $76.66 million for the quarter, compared to the consensus estimate of $76.08 million. On average, research analysts anticipate that Beyond Meat, Inc. will post -2.1 EPS for the current fiscal year.

Analysts Set New Price Targets

BYND has been the subject of a number of research analyst reports. BMO Capital Markets decreased their target price on Beyond Meat from $6.00 to $5.00 and set a “market perform” rating for the company in a research report on Thursday, February 27th. Barclays decreased their target price on shares of Beyond Meat from $4.00 to $3.00 and set an “underweight” rating for the company in a research report on Thursday, February 27th. Three investment analysts have rated the stock with a sell rating and two have assigned a hold rating to the company’s stock. According to MarketBeat, Beyond Meat presently has an average rating of “Reduce” and a consensus target price of $4.70.

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.