The Manufacturers Life Insurance Company Increases Stake in Beyond Meat, Inc. (NASDAQ:BYND)

The Manufacturers Life Insurance Company raised its holdings in shares of Beyond Meat, Inc. (NASDAQ:BYND) by 17.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 26,469 shares of the company’s stock after purchasing an additional 3,902 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Beyond Meat were worth $178,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in BYND. Vanguard Group Inc. boosted its holdings in shares of Beyond Meat by 3.0% in the first quarter. Vanguard Group Inc. now owns 5,351,777 shares of the company’s stock worth $44,313,000 after acquiring an additional 155,653 shares during the period. SG Americas Securities LLC boosted its stake in Beyond Meat by 141.8% in the 2nd quarter. SG Americas Securities LLC now owns 248,921 shares of the company’s stock worth $1,670,000 after purchasing an additional 145,974 shares during the period. Bank of New York Mellon Corp boosted its stake in Beyond Meat by 5.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 235,016 shares of the company’s stock worth $1,577,000 after purchasing an additional 11,800 shares during the period. Raymond James & Associates purchased a new position in Beyond Meat during the 2nd quarter valued at about $1,463,000. Finally, Susquehanna Fundamental Investments LLC bought a new stake in shares of Beyond Meat during the first quarter valued at about $902,000. Institutional investors own 52.48% of the company’s stock.

Beyond Meat Price Performance

Shares of BYND stock opened at $6.39 on Friday. Beyond Meat, Inc. has a 1 year low of $5.13 and a 1 year high of $12.12. The firm has a fifty day moving average price of $6.33 and a 200-day moving average price of $6.67. The company has a market cap of $414.62 million, a price-to-earnings ratio of -1.24 and a beta of 2.26.

Beyond Meat (NASDAQ:BYND) last announced its quarterly earnings data on Wednesday, August 7th. The company reported ($0.53) EPS for the quarter, missing the consensus estimate of ($0.51) by ($0.02). The firm had revenue of $93.19 million for the quarter, compared to analysts’ expectations of $87.81 million. During the same quarter last year, the firm earned ($0.83) EPS. Beyond Meat’s revenue for the quarter was down 8.8% on a year-over-year basis. Equities research analysts expect that Beyond Meat, Inc. will post -2.12 EPS for the current year.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Mizuho decreased their price target on shares of Beyond Meat from $6.00 to $5.00 and set an “underperform” rating on the stock in a report on Monday, August 26th. BMO Capital Markets cut their price objective on Beyond Meat from $9.00 to $6.00 and set a “market perform” rating for the company in a report on Thursday, August 8th. Five equities research analysts have rated the stock with a sell rating and three have given a hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and a consensus price target of $5.36.

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.