Charles Schwab Investment Management Inc. Acquires 46,540 Shares of Beyond Meat, Inc. $BYND

Charles Schwab Investment Management Inc. grew its holdings in shares of Beyond Meat, Inc. (NASDAQ:BYND) by 8.8% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 573,596 shares of the company’s stock after buying an additional 46,540 shares during the quarter. Charles Schwab Investment Management Inc. owned 0.75% of Beyond Meat worth $1,749,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Bank Julius Baer & Co. Ltd Zurich acquired a new stake in shares of Beyond Meat in the 1st quarter worth about $437,000. Apollon Wealth Management LLC bought a new stake in Beyond Meat during the 1st quarter worth approximately $31,000. CWM LLC raised its stake in shares of Beyond Meat by 2,445.6% in the first quarter. CWM LLC now owns 19,703 shares of the company’s stock worth $60,000 after purchasing an additional 18,929 shares during the last quarter. Cerity Partners LLC purchased a new stake in shares of Beyond Meat in the first quarter worth approximately $43,000. Finally, Nisa Investment Advisors LLC lifted its holdings in shares of Beyond Meat by 16,921.9% in the first quarter. Nisa Investment Advisors LLC now owns 124,260 shares of the company’s stock valued at $379,000 after purchasing an additional 123,530 shares in the last quarter. 52.48% of the stock is owned by institutional investors.

Beyond Meat Trading Down 1.6%

Shares of Beyond Meat stock opened at $2.50 on Monday. The business’s fifty day simple moving average is $3.17 and its 200 day simple moving average is $3.10. Beyond Meat, Inc. has a 12 month low of $2.22 and a 12 month high of $7.60. The firm has a market capitalization of $191.62 million, a P/E ratio of -1.15 and a beta of 2.22.

Beyond Meat (NASDAQ:BYND) last announced its quarterly earnings data on Wednesday, August 6th. The company reported ($0.43) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.37) by ($0.06). The business had revenue of $74.96 million during the quarter, compared to analysts’ expectations of $85.71 million. During the same period in the previous year, the business earned ($0.53) EPS. Beyond Meat’s revenue for the quarter was down 19.5% on a year-over-year basis. Analysts predict that Beyond Meat, Inc. will post -2.1 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages recently issued reports on BYND. Barclays decreased their price target on Beyond Meat from $3.00 to $2.00 and set an “underweight” rating for the company in a report on Thursday, May 8th. JPMorgan Chase & Co. started coverage on shares of Beyond Meat in a report on Wednesday, August 20th. They set an “underweight” rating on the stock. Finally, BMO Capital Markets reduced their target price on shares of Beyond Meat from $5.00 to $4.00 and set a “market perform” rating for the company in a research note on Thursday, August 14th. One equities research analyst has rated the stock with a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Sell” and a consensus price target of $3.00.

About Beyond Meat

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.