Nuveen LLC Takes Position in Beyond Meat, Inc. $BYND

Key Points

• Nuveen LLC invested approximately $555,000 in Beyond Meat, acquiring 181,845 shares during the first quarter, reflecting a 0.24% ownership stake in the company.
• Beyond Meat reported a loss of $0.43 per share in its latest quarterly earnings, falling short of the expected consensus estimate, with revenues also down by 19.5% year-over-year.
• Analysts have issued a consensus "Sell" rating for Beyond Meat, with a lowered price target averaging $3.00 per share, amidst concerns about its financial performance.

Nuveen LLC purchased a new position in Beyond Meat, Inc. (NASDAQ:BYND - Free Report) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 181,845 shares of the company's stock, valued at approximately $555,000. Nuveen LLC owned approximately 0.24% of Beyond Meat as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in BYND. SG Americas Securities LLC boosted its position in shares of Beyond Meat by 5,060.0% in the 1st quarter. SG Americas Securities LLC now owns 1,187,011 shares of the company's stock worth $3,620,000 after purchasing an additional 1,164,007 shares in the last quarter. Vontobel Holding Ltd. lifted its position in Beyond Meat by 35.0% in the 1st quarter. Vontobel Holding Ltd. now owns 1,758,904 shares of the company's stock valued at $5,365,000 after acquiring an additional 455,963 shares in the last quarter. Millennium Management LLC lifted its position in Beyond Meat by 73.8% in the 4th quarter. Millennium Management LLC now owns 619,957 shares of the company's stock valued at $2,331,000 after acquiring an additional 263,337 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich bought a new position in Beyond Meat in the 1st quarter valued at approximately $437,000. Finally, Nisa Investment Advisors LLC lifted its position in Beyond Meat by 16,921.9% in the 1st quarter. Nisa Investment Advisors LLC now owns 124,260 shares of the company's stock valued at $379,000 after acquiring an additional 123,530 shares in the last quarter. 52.48% of the stock is owned by institutional investors.

Beyond Meat Trading Up 4.7%

Beyond Meat stock traded up $0.11 during trading on Friday, reaching $2.46. The company had a trading volume of 1,588,113 shares, compared to its average volume of 2,122,347. The firm's 50-day simple moving average is $3.07 and its 200 day simple moving average is $3.05. The firm has a market capitalization of $188.56 million, a price-to-earnings ratio of -1.13 and a beta of 2.22. Beyond Meat, Inc. has a 52 week low of $2.22 and a 52 week high of $7.60.

Beyond Meat (NASDAQ:BYND - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The company reported ($0.43) 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 analyst estimates of $85.71 million. The firm's revenue for the quarter was down 19.5% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.53) earnings per share. On average, analysts predict that Beyond Meat, Inc. will post -2.1 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms recently issued reports on BYND. BMO Capital Markets lowered their price objective 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. JPMorgan Chase & Co. started coverage on Beyond Meat in a research report on Wednesday, August 20th. They issued an "underweight" rating on the stock. One equities research analyst has rated the stock with a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently 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.