Udine Wealth Management Inc. Buys Shares of 50,916 Beyond Meat, Inc. (NASDAQ:BYND)

Udine Wealth Management Inc. bought a new stake in Beyond Meat, Inc. (NASDAQ:BYND) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 50,916 shares of the company’s stock, valued at approximately $422,000. Beyond Meat makes up about 0.3% of Udine Wealth Management Inc.’s portfolio, making the stock its 27th largest holding.

Several other institutional investors also recently bought and sold shares of BYND. Arbor Capital Management Inc. ADV acquired a new stake in Beyond Meat in the fourth quarter valued at approximately $752,000. Cowen AND Company LLC acquired a new stake in shares of Beyond Meat during the fourth quarter worth $623,000. Charles Schwab Investment Management Inc. lifted its stake in shares of Beyond Meat by 6.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 483,732 shares of the company’s stock worth $4,654,000 after buying an additional 30,998 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Beyond Meat by 63.5% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 61,222 shares of the company’s stock worth $545,000 after buying an additional 23,770 shares during the period. Finally, Raymond James & Associates acquired a new stake in shares of Beyond Meat during the fourth quarter worth $209,000. 52.48% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

BYND has been the subject of several research reports. The Goldman Sachs Group lowered their price objective on shares of Beyond Meat from $4.00 to $3.50 and set a “sell” rating for the company in a research note on Thursday, May 9th. TD Cowen lowered their price objective on shares of Beyond Meat from $10.00 to $6.00 and set a “sell” rating for the company in a research note on Wednesday, April 17th. BMO Capital Markets lowered their price objective on shares of Beyond Meat from $10.00 to $9.00 and set a “market perform” rating for the company in a research note on Thursday, May 9th. Canaccord Genuity Group lowered their price objective on shares of Beyond Meat from $9.00 to $7.00 and set a “hold” rating for the company in a research note on Friday, May 10th. Finally, Mizuho decreased their target price on shares of Beyond Meat from $7.00 to $6.00 and set an “underperform” rating for the company in a research report on Monday, April 22nd. Six investment analysts have rated the stock with a sell rating and three have given a hold rating to the company. According to MarketBeat.com, Beyond Meat currently has an average rating of “Reduce” and a consensus target price of $5.56.

Beyond Meat Trading Up 1.3 %

BYND traded up $0.09 on Monday, reaching $6.80. The stock had a trading volume of 896,811 shares, compared to its average volume of 3,052,472. Beyond Meat, Inc. has a 12-month low of $5.58 and a 12-month high of $19.25. The business’s 50-day moving average price is $7.10 and its two-hundred day moving average price is $7.56. The company has a market cap of $441.22 million, a P/E ratio of -1.30 and a beta of 2.43.

Beyond Meat (NASDAQ:BYND) last released its quarterly earnings data on Wednesday, May 8th. The company reported ($0.72) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.67) by ($0.05). The business had revenue of $75.60 million for the quarter, compared to the consensus estimate of $75.24 million. During the same period last year, the firm earned ($0.92) earnings per share. The business’s quarterly revenue was down 18.0% compared to the same quarter last year. As a group, analysts predict that Beyond Meat, Inc. will post -2.11 earnings per share for the current year.

Beyond Meat 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.