50,916 Shares in Beyond Meat, Inc. (NASDAQ:BYND) Purchased by Udine Wealth Management Inc.

Udine Wealth Management Inc. bought a new position in Beyond Meat, Inc. (NASDAQ:BYND) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 50,916 shares of the company’s stock, valued at approximately $422,000. Beyond Meat comprises about 0.3% of Udine Wealth Management Inc.’s investment portfolio, making the stock its 27th biggest position. Udine Wealth Management Inc. owned approximately 0.08% of Beyond Meat as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently modified their holdings of the company. Virtu Financial LLC bought a new stake in shares of Beyond Meat in the fourth quarter worth about $196,000. Compagnie Lombard Odier SCmA lifted its holdings in Beyond Meat by 16.3% in the fourth quarter. Compagnie Lombard Odier SCmA now owns 25,000 shares of the company’s stock worth $222,000 after buying an additional 3,500 shares during the period. Banque Cantonale Vaudoise lifted its holdings in Beyond Meat by 117.4% in the first quarter. Banque Cantonale Vaudoise now owns 3,220 shares of the company’s stock worth $26,000 after buying an additional 1,739 shares during the period. MUFG Securities EMEA plc lifted its holdings in Beyond Meat by 30.3% in the fourth quarter. MUFG Securities EMEA plc now owns 21,113 shares of the company’s stock worth $188,000 after buying an additional 4,913 shares during the period. Finally, Gotham Asset Management LLC lifted its holdings in Beyond Meat by 5.6% in the third quarter. Gotham Asset Management LLC now owns 31,165 shares of the company’s stock worth $300,000 after buying an additional 1,646 shares during the period. 52.48% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. 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 report on Friday, May 10th. 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 report on Thursday, May 9th. TD Cowen lowered their target price on shares of Beyond Meat from $10.00 to $6.00 and set a “sell” rating for the company in a report on Wednesday, April 17th. BMO Capital Markets lowered their target price on shares of Beyond Meat from $10.00 to $9.00 and set a “market perform” rating for the company in a report on Thursday, May 9th. Finally, Mizuho lowered their target price on shares of Beyond Meat from $7.00 to $6.00 and set an “underperform” rating for the company in a report on Monday, April 22nd. Six research analysts have rated the stock with a sell rating and three have issued a hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Reduce” and an average target price of $5.56.

Beyond Meat Price Performance

NASDAQ BYND traded up $0.09 during mid-day trading 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 1 year low of $5.58 and a 1 year high of $19.25. The stock has a market cap of $441.22 million, a PE ratio of -1.30 and a beta of 2.43. The company has a fifty day moving average price of $7.10 and a 200 day moving average price of $7.56.

Beyond Meat (NASDAQ:BYND) last announced 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 company had revenue of $75.60 million for the quarter, compared to the consensus estimate of $75.24 million. During the same period in the prior year, the firm posted ($0.92) EPS. The firm’s revenue was down 18.0% compared to the same quarter last year. As a group, equities research analysts expect 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.