The Vanguard Group, Inc. recently announced the acquisition of new stake in Beyond Meat Inc. (NASDAQ:BYND). The institutional investor has increased its shareholding in the Consumer Defensive company by 2.70% to 6.02 million shares with purchase of 0.16 million shares. This fresh investment now brings its stake to 9.40% valued currently at $81.56 million. In addition, Geode Capital Management LLC raised its holdings by 20377.0 to 1.11 million shares. And First Trust Advisors LP has lifted its position by 69.69% or 0.19 million shares – to 0.47 million shares.
With over 2.87 million Beyond Meat Inc. (BYND) shares trading Friday and a closing price of $10.71 on the day, the dollar volume was approximately $30.7 million. The shares have shown a negative half year performance of -26.09% and its price on 05/19/23 lost nearly -6.22%. Currently, there are 64.00M common shares owned by the public and among those 58.07M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 17 analysts who have offered their price forecasts for BYND have a consensus price objective of $10.75. The analysts have set the share’s price value over the next 12 months at a high of $15.00 and a low of $5.00. The average price target is 0.37% above its recent price level and a downside to the estimated low will see the stock lose -114.2% over that period. But an upside of 28.6% will see the stock hit the forecast high price target while median target price for the stock is $12.00.
Insiders at the company have transacted a total of 107 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 24 of these insider trades were purchases, accounting for 800,776 shares. Insider sales of the common stock occurred on 83 occasions, with total insider shares sold totaling 149,074 shares.
The top 3 mutual fund holders in Beyond Meat Inc. are Vanguard Total Stock Market ETF, Vanguard Small Cap Index Fund, and iShares Russell 2000 ETF. Vanguard Total Stock Market ETF owns 1.78 million shares of the company’s stock, all valued at over $24.11 million. The company sold 2053.0 shares recently to bring their total holdings to about 2.78% of the shares outstanding. Vanguard Small Cap Index Fund sold 920.0 shares to see its total holdings shrink to 1.5 million shares valued at over $20.27 million and representing 2.34% of the shares outstanding. iShares Russell 2000 ETF sold 18880.0 shares to bring its total holdings to over 1.29 million shares at a value of $17.47 million. iShares Russell 2000 ETF now owns shares totaling to 2.01% of the shares outstanding.
Shares of Beyond Meat Inc. (NASDAQ: BYND) opened at $11.22, down -$0.2 from a prior closing price of $11.42. However, the script later moved the day high at 11.32, down -6.22%. The company’s stock has a 5-day price change of 2.29% and -39.63% over the past three months. BYND shares are trading -13.00% year to date (YTD), with the 12-month market performance down to -59.46% lower. It has a 12-month low price of $9.81 and touched a high of $44.59 over the same period. BYND has an average intraday trading volume of 2.51 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -13.46%, -25.71%, and -36.97% respectively.
Institutional ownership of Beyond Meat Inc. (NASDAQ: BYND) shares accounts for 43.20% of the company’s 64.00M shares outstanding. Mutual fund holders own 19.18%, while other institutional holders and individual stakeholders account for 23.02% and 14.16% respectively.
It has a market capitalization of $733.53M and a beta (3y monthly) value of 2.02. The earnings-per-share (ttm) stands at -$5.10. Price movements for the stock have been influenced by the stock’s volatility, which stands at 7.75% over the week and 6.41% over the month.
Analysts forecast that Beyond Meat Inc. (BYND) will achieve an EPS of -$0.87 for the current quarter, -$0.79 for the next quarter and -$2.57 for 2024. The lowest estimate earnings-per-share for the quarter is -$0.98 while analysts give the company a high EPS estimate of -$0.78. Comparatively, EPS for the current quarter was -$1.53 a year ago. Earnings per share for the fiscal year are expected to decrease by -99.60%, and 23.10% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 17 brokerage firm advisors rate Beyond Meat Inc. (BYND) as a “Hold” at a consensus score of 3.40. Specifically, 0 Wall Street analysts polled rate the stock as a buy, while 11 of the 17 advise that investors “hold,” and 5 rated it as a “Sell.”
