Beyond Meat, Inc. $BYND Shares Bought by Vontobel Holding Ltd.

Key Points

• Vontobel Holding Ltd. increased its stake in Beyond Meat by 20.2% in the second quarter, holding approximately 2.76% of the company valued at $7.38 million.
• Beyond Meat reported a quarterly loss of ($0.43) per share and revenue of $74.96 million, falling short of analyst expectations.
• Analysts have issued multiple ratings on Beyond Meat, with a consensus of "Strong Sell" and an average target price of $3.00 for the stock.

Vontobel Holding Ltd. raised its holdings in Beyond Meat, Inc. (NASDAQ:BYND - Free Report) by 20.2% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,113,869 shares of the company's stock after purchasing an additional 354,965 shares during the period. Vontobel Holding Ltd. owned about 2.76% of Beyond Meat worth $7,377,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Apollon Wealth Management LLC acquired a new position in shares of Beyond Meat in the 1st quarter valued at approximately $31,000. Chiron Capital Management LLC acquired a new position in shares of Beyond Meat in the 1st quarter valued at approximately $38,000. Cerity Partners LLC acquired a new position in shares of Beyond Meat in the 1st quarter valued at approximately $43,000. Wealth Enhancement Advisory Services LLC acquired a new position in shares of Beyond Meat in the 1st quarter valued at approximately $48,000. Finally, GC Wealth Management RIA LLC acquired a new stake in shares of Beyond Meat during the 2nd quarter valued at approximately $49,000. 52.48% of the stock is owned by institutional investors and hedge funds.

Beyond Meat Price Performance

Shares of NASDAQ BYND opened at $1.97 on Friday. Beyond Meat, Inc. has a 1-year low of $1.23 and a 1-year high of $6.81. The business's fifty day moving average price is $2.57 and its two-hundred day moving average price is $2.90. The firm has a market capitalization of $151.20 million, a PE ratio of -0.90 and a beta of 2.33.

Beyond Meat (NASDAQ:BYND - Get Free Report) last issued its earnings results on Wednesday, August 6th. The company reported ($0.43) earnings per share for the quarter, missing the consensus estimate 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 quarter in the previous year, the company earned ($0.53) earnings per share. Beyond Meat's revenue for the quarter was down 19.5% compared to the same quarter last year. Equities research analysts expect that Beyond Meat, Inc. will post -2.1 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. JPMorgan Chase & Co. assumed coverage on Beyond Meat in a research report on Wednesday, August 20th. They set an "underweight" rating on the stock. Weiss Ratings reissued a "sell (e+)" rating on shares of Beyond Meat in a research report on Wednesday. BMO Capital Markets dropped their price target on 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. Argus lowered Beyond Meat from a "hold" rating to a "sell" rating in a research report on Monday, September 15th. Finally, BTIG Research reissued a "neutral" rating on shares of Beyond Meat in a research report on Tuesday, September 30th. Two analysts have rated the stock with a Hold rating and four have given a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Strong Sell" and an average target price 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.