United Capital Financial Advisers LLC trimmed its position in shares of Beyond Meat, Inc. (NASDAQ:BYND) by 5.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 3,155 shares of the company’s stock after selling 172 shares during the quarter. United Capital Financial Advisers LLC’s holdings in Beyond Meat were worth $394,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Safir Wealth Advisors LLC purchased a new stake in Beyond Meat during the fourth quarter worth $25,000. Benjamin F. Edwards & Company Inc. lifted its position in Beyond Meat by 100.0% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 200 shares of the company’s stock worth $25,000 after buying an additional 100 shares during the period. Tompkins Financial Corp purchased a new position in Beyond Meat during the fourth quarter worth about $29,000. Westside Investment Management Inc. lifted its position in Beyond Meat by 142.9% during the fourth quarter. Westside Investment Management Inc. now owns 255 shares of the company’s stock worth $31,000 after buying an additional 150 shares during the period. Finally, HHM Wealth Advisors LLC purchased a new position in Beyond Meat during the fourth quarter worth about $31,000. Institutional investors own 42.09% of the company’s stock.
BYND has been the topic of several recent analyst reports. Oppenheimer reiterated a “hold” rating on shares of Beyond Meat in a research report on Monday, February 22nd. DA Davidson upped their price target on Beyond Meat from $133.00 to $145.00 and gave the stock an “underperform” rating in a research note on Monday, March 8th. Stephens assumed coverage on Beyond Meat in a research note on Wednesday, March 24th. They issued an “overweight” rating and a $190.00 target price for the company. The Goldman Sachs Group increased their target price on Beyond Meat from $105.00 to $112.00 and gave the company a “sell” rating in a research note on Thursday, March 4th. Finally, Canaccord Genuity lowered their target price on Beyond Meat from $170.00 to $155.00 and set a “hold” rating for the company in a research note on Thursday, March 4th. Nine equities research analysts have rated the stock with a sell rating, eight have given a hold rating and three have given a buy rating to the company’s stock. Beyond Meat currently has a consensus rating of “Hold” and a consensus target price of $122.63.
Beyond Meat (NASDAQ:BYND) last announced its quarterly earnings results on Wednesday, February 24th. The company reported ($0.34) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.13) by ($0.21). Beyond Meat had a negative return on equity of 4.49% and a negative net margin of 6.97%. During the same period in the prior year, the company posted ($0.01) earnings per share. As a group, equities analysts forecast that Beyond Meat, Inc. will post -0.39 earnings per share for the current fiscal year.
In related news, insider Dariush Ajami sold 10,000 shares of the stock in a transaction on Tuesday, January 26th. The stock was sold at an average price of $219.03, for a total value of $2,190,300.00. Following the completion of the transaction, the insider now owns 50,974 shares in the company, valued at approximately $11,164,835.22. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Sanjay C. Shah sold 4,570 shares of the stock in a transaction on Thursday, March 11th. The shares were sold at an average price of $140.82, for a total value of $643,547.40. Following the completion of the transaction, the chief operating officer now owns 37,295 shares of the company’s stock, valued at approximately $5,251,881.90. The disclosure for this sale can be found here. Insiders have sold 29,570 shares of company stock worth $5,206,547 over the last three months. Corporate insiders own 11.00% of the company’s stock.
About Beyond Meat
Beyond Meat, Inc, a food company, manufactures, markets, and sells plant-based meat products in the United States and internationally. It operates under the Beyond Meat, Beyond Burger, Beyond Beef, Beyond Sausage, Beyond Breakfast Sausage, Beyond Chicken, Beyond Fried Chicken, Beyond Meatball, the Caped Steer Logo, Go Beyond, Eat What You Love, The Cookout Classic, The Future of Protein, and The Future of Protein Beyond Meat and design trademarks.
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