Beyond Meat, Inc. $BYND Shares Acquired by MetLife Investment Management LLC

MetLife Investment Management LLC lifted its stake in shares of Beyond Meat, Inc. (NASDAQ:BYND) by 167.3% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 35,697 shares of the company’s stock after purchasing an additional 22,341 shares during the quarter. MetLife Investment Management LLC’s holdings in Beyond Meat were worth $109,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Apollon Wealth Management LLC purchased a new stake in shares of Beyond Meat in the 1st quarter worth about $31,000. Ameriprise Financial Inc. purchased a new stake in shares of Beyond Meat in the 4th quarter worth about $39,000. Cerity Partners LLC purchased a new stake in shares of Beyond Meat in the 1st quarter worth about $43,000. Wealth Enhancement Advisory Services LLC purchased a new stake in shares of Beyond Meat in the 1st quarter worth about $48,000. Finally, Raymond James Financial Inc. purchased a new stake in shares of Beyond Meat in the 4th quarter worth about $49,000. 52.48% of the stock is owned by institutional investors and hedge funds.

Beyond Meat Trading Down 3.5%

NASDAQ:BYND opened at $2.49 on Thursday. The firm has a market cap of $190.86 million, a price-to-earnings ratio of -1.14 and a beta of 2.22. The company’s 50-day moving average is $3.01 and its two-hundred day moving average is $3.02. Beyond Meat, Inc. has a 12-month low of $2.22 and a 12-month high of $7.60.

Beyond Meat (NASDAQ:BYND) last released its earnings results 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 for the quarter, compared to the consensus estimate of $85.71 million. During the same quarter last year, the business posted ($0.53) EPS. The company’s quarterly revenue was down 19.5% compared to the same quarter last year. On average, equities research analysts forecast that Beyond Meat, Inc. will post -2.1 earnings per share for the current fiscal year.

Analyst Ratings Changes

BYND has been the topic of several recent research reports. BMO Capital Markets decreased their price objective on shares of Beyond Meat from $5.00 to $4.00 and set a “market perform” rating on the stock in a research report on Thursday, August 14th. JPMorgan Chase & Co. initiated coverage on shares of Beyond Meat in a research report on Wednesday, August 20th. They issued an “underweight” rating on the stock. One research analyst has rated the stock with a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Sell” and an average price target of $3.00.

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.