The Vanguard Group, Inc. has recently announced that it has increased stake in Beyond Meat Inc. (NASDAQ:BYND) by 8.52%. After grabbing 3.38 million shares, the institutional investor is now in possession of 0.27 million shares of the Consumer Defensive Company. The new investment brought the stake of investor firm to 5.43% having worth around $425.31 million. Moreover, BlackRock Fund Advisors increased its share by 0.22 million to have a control over 1.33 million shares. And Discovery Value Fund (Investment.. raised its holdings to 0.49 million shares by acquiring 0.82 million shares or 1.32% of the stake.
Beyond Meat Inc. (BYND) concluded trading on 08/27/20 at a closing price of $132.15, with 10.84 million shares of worth about $1.43 billion changed hands on the day. Weekly performance of the stock remained positive as price took a surge of 3.31% during that period and on Thursday the price saw a gain of about 5.28%. Currently the company’s common shares owned by public are about 62.10M shares, out of which, 54.43M shares are available for trading.
A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 22 analysts are covering the BYND stock and their offered price forecasts bring an average price target of $120.31. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $173.00 and could fall to a lowest price of $53.00. Analysts also issued an outlook of 3.00 for the Beyond Meat Inc. stock for next 12 months. The stock’s current price level is -9.84% below of average price target set by the analysts, while a dip to estimated low would result in loss of -149.34 for the stock. However, touching the estimated high of $173.00 would mean a gain of 23.61% for the stock.
According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 199 times over the past 12 months. They bought 1,601,636 shares in 63 of the transactions. In 136 selling transactions, insiders dumped 5,912,220 shares.
Vanguard Total Stock Market Index, Vanguard Small Cap Index Fund, and Vanguard Small Cap Growth Index F are the top 3 mutual funds which are holding stakes in Beyond Meat Inc. Vanguard Total Stock Market Index is currently holding 1.25 million shares of worth totaling $156.77 million. The company recently came selling 563.0 shares which brought its stake up to 2.00% of the company’s outstanding shares. Vanguard Small Cap Index Fund sold 8040.0 shares, after which its hold over company’s outstanding shares shrunk to 1.74%, leaving 1.08 million shares with the mutual fund that have a worth of about $136.35 million. Vanguard Small Cap Growth Index F, after selling 0.66 million shares, have now control over 1.06% of the stake in the company. It holds 4224.0 shares of worth $82.79 million.
Beyond Meat Inc. (NASDAQ: BYND) started trading at $129.50, above $3.98 from concluding price of the previous day. However, the stock finished the trading on the day at a closing price of $132.15, or with a gain of 5.28%. Stock saw a price change of 3.31% in past 5 days and over the past one month there was a price change of 4.32%. Year-to-date (YTD), BYND shares are showing a performance of 74.80% which decreased to -17.57% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $48.18 but also hit the highest price of $172.29 during that period. While comparing its average daily trading volume of 5.71 million shares, we see that about 10.84 million changed hands on the day. The stock is currently trading 3.45% above its 20-day simple moving average (SMA20), while that difference is down -1.32% for SMA50 and it goes to 23.59% higher than SMA200.
The Vanguard Group, Inc. acquired 3.38 million shares of Beyond Meat Inc. having value of about $425.31 million. Data submitted at the U.S SEC by The Vanguard Group, Inc. revealed that the firm now holds 0.27 million shares in the company valued at close to $35036797.35, or have control over 8.52% stake in the company. Beyond Meat Inc. (NASDAQ: BYND) currently have 62.10M outstanding shares and institutions hold larger chunk of about 32.90% of that. Holding of mutual funds in the company is about 19.01% while other institutional holders and individual stake holders have control over 19.17% and 13.48% of the stake respectively.
The stock has a current market capitalization of $8.38B. It has posted earnings per share of -$0.08 in the same period. It has Quick Ratio of 4.30 while making debt-to-equity ratio of 0.13. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for BYND, volatility over the week remained 3.54% while standing at 3.96% over the month.
Analysts are in expectations that Beyond Meat Inc. (BYND) stock would likely to be making an EPS of $0.06 in the current quarter, while forecast for next quarter ESPS is $0.04 and it is $0.63 for next year. For the current quarter EPS, analysts have given the company a lowest target -$0.07 which is $0.16 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $0.06 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 42.60% while it is estimated to increase by 337.50% in next year.
Analysts at 22 brokerage firms have issued recommendations for the Beyond Meat Inc. (BYND)’s stock and average of those rates the stock at a “Hold” and assign it a score of 3.00. Out of those 22 Wall Street analysts, 4 recommended a “Buy” rating, while 10 were in favor recommending the stock as a “Hold” and 7 analyst recommended the stock as “Sell”.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Canaccord Genuity on July 28, 2020 offering a Hold rating for the stock and assigned a target price of $140 to it. Coverage by Citigroup stated Beyond Meat Inc. (BYND) stock as a Sell in their note to investors on July 10, 2020, suggesting a price target of $123 for the stock. On June 29, 2020, Barclays Downgrade their recommendations, while on June 17, 2020, Credit Suisse Reiterated their ratings for the stock with a price target of $142. Stock get a Buy rating from BTIG Research on May 19, 2020.