Farallon Capital Management LLC Invests $157,000 in Beyond Meat, Inc. (NASDAQ:BYND)

Farallon Capital Management LLC acquired a new position in shares of Beyond Meat, Inc. (NASDAQ:BYND) during the first quarter, Holdings Channel reports. The institutional investor acquired 19,000 shares of the company’s stock, valued at approximately $157,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Raymond James & Associates acquired a new stake in Beyond Meat in the 4th quarter valued at $209,000. Raymond James Financial Services Advisors Inc. acquired a new stake in Beyond Meat during the 4th quarter worth $93,000. Arizona State Retirement System boosted its stake in Beyond Meat by 9.4% during the 4th quarter. Arizona State Retirement System now owns 17,999 shares of the company’s stock worth $160,000 after purchasing an additional 1,541 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Beyond Meat by 63.5% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 61,222 shares of the company’s stock worth $545,000 after purchasing an additional 23,770 shares during the last quarter. Finally, Headlands Technologies LLC acquired a new stake in Beyond Meat during the 4th quarter worth $99,000. Institutional investors and hedge funds own 52.48% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Mizuho lowered their target price on shares of Beyond Meat from $7.00 to $6.00 and set an “underperform” rating on the stock in a research note on Monday, April 22nd. The Goldman Sachs Group lowered their target price on shares of Beyond Meat from $4.00 to $3.50 and set a “sell” rating on the stock in a research note on Thursday, May 9th. TD Cowen lowered their target price on shares of Beyond Meat from $10.00 to $6.00 and set a “sell” rating on the stock in a research note on Wednesday, April 17th. Canaccord Genuity Group reduced their price target on Beyond Meat from $9.00 to $7.00 and set a “hold” rating on the stock in a report on Friday, May 10th. Finally, BMO Capital Markets reduced their price target on Beyond Meat from $10.00 to $9.00 and set a “market perform” rating on the stock in a report on Thursday, May 9th. Six investment analysts have rated the stock with a sell rating and three have issued a hold rating to the company’s stock. Based on data from MarketBeat, Beyond Meat currently has an average rating of “Reduce” and an average price target of $5.56.

Beyond Meat Stock Down 8.8 %

BYND traded down $0.54 on Friday, hitting $5.60. The company had a trading volume of 2,692,243 shares, compared to its average volume of 2,715,095. Beyond Meat, Inc. has a 1 year low of $5.50 and a 1 year high of $16.38. The company’s fifty day moving average price is $6.77 and its 200 day moving average price is $7.19.

Beyond Meat (NASDAQ:BYND) last issued its quarterly earnings data on Wednesday, May 8th. The company reported ($0.72) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.67) by ($0.05). The company had revenue of $75.60 million for the quarter, compared to analysts’ expectations of $75.24 million. The company’s revenue for the quarter was down 18.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.92) EPS. On average, sell-side analysts forecast that Beyond Meat, Inc. will post -2.11 earnings per share for the current year.

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.