Northern Trust Corp Raises Position in Beyond Meat, Inc. (NASDAQ:BYND)

Northern Trust Corp raised its stake in Beyond Meat, Inc. (NASDAQ:BYND) by 9.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 595,612 shares of the company’s stock after purchasing an additional 52,150 shares during the quarter. Northern Trust Corp owned 0.91% of Beyond Meat worth $2,240,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Russell Investments Group Ltd. grew its holdings in shares of Beyond Meat by 305.1% in the fourth quarter. Russell Investments Group Ltd. now owns 7,887 shares of the company’s stock valued at $30,000 after acquiring an additional 5,940 shares in the last quarter. KLP Kapitalforvaltning AS bought a new position in shares of Beyond Meat in the fourth quarter valued at approximately $37,000. Van ECK Associates Corp grew its holdings in shares of Beyond Meat by 68.8% in the fourth quarter. Van ECK Associates Corp now owns 10,498 shares of the company’s stock valued at $39,000 after acquiring an additional 4,280 shares in the last quarter. Ballentine Partners LLC bought a new position in shares of Beyond Meat in the fourth quarter valued at approximately $39,000. Finally, Wealthfront Advisers LLC bought a new position in shares of Beyond Meat in the fourth quarter valued at approximately $40,000. 52.48% of the stock is owned by institutional investors.

Beyond Meat Trading Down 2.7%

Shares of NASDAQ BYND opened at $2.85 on Monday. The stock has a fifty day simple moving average of $2.79 and a two-hundred day simple moving average of $3.61. Beyond Meat, Inc. has a 1-year low of $2.23 and a 1-year high of $9.24. The firm has a market cap of $217.94 million, a price-to-earnings ratio of -0.68 and a beta of 2.18.

Beyond Meat (NASDAQ:BYND) last announced its quarterly earnings data on Wednesday, May 7th. The company reported ($0.67) earnings per share for the quarter, missing the consensus estimate of ($0.52) by ($0.15). During the same quarter last year, the company earned ($0.84) earnings per share. The firm’s revenue for the quarter was down 9.1% on a year-over-year basis. Analysts forecast that Beyond Meat, Inc. will post -2.1 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Barclays reduced their price objective on Beyond Meat from $3.00 to $2.00 and set an “underweight” rating for the company in a report on Thursday, May 8th. BMO Capital Markets reduced their price objective on Beyond Meat from $6.00 to $5.00 and set a “market perform” rating for the company in a report on Thursday, February 27th.

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.