SG Americas Securities LLC Sells 199,211 Shares of Beyond Meat, Inc. (NASDAQ:BYND)

SG Americas Securities LLC lowered its position in shares of Beyond Meat, Inc. (NASDAQ:BYND) by 80.0% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 49,710 shares of the company’s stock after selling 199,211 shares during the period. SG Americas Securities LLC owned 0.08% of Beyond Meat worth $337,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently made changes to their positions in the company. Banque Cantonale Vaudoise increased its stake in shares of Beyond Meat by 117.4% during the first quarter. Banque Cantonale Vaudoise now owns 3,220 shares of the company’s stock worth $26,000 after purchasing an additional 1,739 shares during the period. Ensign Peak Advisors Inc increased its stake in shares of Beyond Meat by 7.8% during the second quarter. Ensign Peak Advisors Inc now owns 36,493 shares of the company’s stock worth $245,000 after purchasing an additional 2,650 shares during the period. Price T Rowe Associates Inc. MD increased its stake in shares of Beyond Meat by 9.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 33,104 shares of the company’s stock worth $275,000 after purchasing an additional 2,790 shares during the period. The Manufacturers Life Insurance Company increased its stake in shares of Beyond Meat by 17.3% during the second quarter. The Manufacturers Life Insurance Company now owns 26,469 shares of the company’s stock worth $178,000 after purchasing an additional 3,902 shares during the period. Finally, State Board of Administration of Florida Retirement System increased its stake in shares of Beyond Meat by 30.4% during the first quarter. State Board of Administration of Florida Retirement System now owns 22,061 shares of the company’s stock worth $183,000 after purchasing an additional 5,140 shares during the period. Institutional investors own 52.48% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on BYND. Mizuho reduced their price target on Beyond Meat from $6.00 to $5.00 and set an “underperform” rating on the stock in a research report on Monday, August 26th. BMO Capital Markets reduced their price target on Beyond Meat from $9.00 to $6.00 and set a “market perform” rating on the stock in a research report on Thursday, August 8th. Five equities research analysts have rated the stock with a sell rating and three have assigned a hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Reduce” and an average price target of $5.36.

Beyond Meat Price Performance

Shares of NASDAQ:BYND opened at $6.39 on Friday. The company has a market capitalization of $414.62 million, a P/E ratio of -1.24 and a beta of 2.26. Beyond Meat, Inc. has a 1 year low of $5.13 and a 1 year high of $12.12. The business’s 50 day simple moving average is $6.33 and its 200 day simple moving average is $6.68.

Beyond Meat (NASDAQ:BYND) last issued its earnings results on Wednesday, August 7th. The company reported ($0.53) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.51) by ($0.02). The business had revenue of $93.19 million during the quarter, compared to analysts’ expectations of $87.81 million. The business’s quarterly revenue was down 8.8% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.83) earnings per share. On average, sell-side analysts anticipate that Beyond Meat, Inc. will post -2.12 EPS for the current fiscal year.

Beyond Meat Company 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.