Millennium Management LLC Purchases 263,337 Shares of Beyond Meat, Inc. (NASDAQ:BYND)

Millennium Management LLC boosted its position in Beyond Meat, Inc. (NASDAQ:BYND - Free Report) by 73.8% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 619,957 shares of the company's stock after buying an additional 263,337 shares during the period. Millennium Management LLC owned approximately 0.95% of Beyond Meat worth $2,331,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Vontobel Holding Ltd. increased its holdings in Beyond Meat by 128.7% during the 4th quarter. Vontobel Holding Ltd. now owns 1,302,941 shares of the company's stock worth $4,899,000 after purchasing an additional 733,168 shares in the last quarter. Rhumbline Advisers increased its holdings in Beyond Meat by 61.2% during the 4th quarter. Rhumbline Advisers now owns 131,327 shares of the company's stock worth $494,000 after purchasing an additional 49,875 shares in the last quarter. Russell Investments Group Ltd. increased its holdings in Beyond Meat by 305.1% during the 4th quarter. Russell Investments Group Ltd. now owns 7,887 shares of the company's stock worth $30,000 after purchasing an additional 5,940 shares in the last quarter. KLP Kapitalforvaltning AS bought a new stake in Beyond Meat during the 4th quarter worth approximately $37,000. Finally, ExodusPoint Capital Management LP bought a new stake in Beyond Meat during the 4th quarter worth approximately $233,000. 52.48% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have commented on BYND shares. BMO Capital Markets decreased 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. Barclays cut their target price on Beyond Meat from $3.00 to $2.00 and set an "underweight" rating on the stock in a research note on Thursday, May 8th.

Beyond Meat Stock Performance

NASDAQ BYND traded down $0.21 on Thursday, hitting $3.04. 1,665,430 shares of the stock traded hands, compared to its average volume of 2,905,216. The firm has a market capitalization of $232.47 million, a price-to-earnings ratio of -0.73 and a beta of 2.18. The business's fifty day moving average is $2.74 and its two-hundred day moving average is $3.51. Beyond Meat, Inc. has a 12 month low of $2.23 and a 12 month high of $9.24.

Beyond Meat (NASDAQ:BYND - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The company reported ($0.67) EPS for the quarter, missing the consensus estimate of ($0.52) by ($0.15). The firm's revenue for the quarter was down 9.1% on a year-over-year basis. During the same period in the prior year, the company earned ($0.84) EPS. Analysts expect that Beyond Meat, Inc. will post -2.1 EPS for the current fiscal year.

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.