Beyond Meat (NASDAQ:BYND) Raised to Overweight at JPMorgan Chase & Co.

JPMorgan Chase & Co. upgraded shares of Beyond Meat (NASDAQ:BYND) from a neutral rating to an overweight rating in a report issued on Tuesday, BenzingaRatingsTable reports. The brokerage currently has $189.00 target price on the stock, up from their prior target price of $188.00.

BYND has been the subject of a number of other reports. Sanford C. Bernstein cut shares of Beyond Meat from an outperform rating to a market perform rating and set a $123.00 price objective for the company. in a research report on Wednesday, June 12th. They noted that the move was a valuation call. Consumer Edge started coverage on shares of Beyond Meat in a research report on Monday, May 20th. They set an equal weight rating and a $89.35 price objective for the company. Credit Suisse Group upped their price objective on shares of Beyond Meat from $70.00 to $125.00 and gave the stock a neutral rating in a research report on Tuesday, July 9th. William Blair started coverage on shares of Beyond Meat in a research report on Tuesday, May 28th. They set a market perform rating for the company. Finally, Bank of America upped their price objective on shares of Beyond Meat from $170.00 to $182.00 and gave the stock a neutral rating in a research report on Friday, August 2nd. Seven investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The stock currently has an average rating of Hold and an average price target of $134.67.

NASDAQ:BYND opened at $150.99 on Tuesday. The company has a quick ratio of 7.90, a current ratio of 8.95 and a debt-to-equity ratio of 0.07. The business’s fifty day moving average is $172.66. Beyond Meat has a fifty-two week low of $45.00 and a fifty-two week high of $239.71.

Beyond Meat (NASDAQ:BYND) last posted its quarterly earnings data on Monday, July 29th. The company reported $0.01 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.08) by $0.09. The company had revenue of $67.25 million for the quarter, compared to analyst estimates of $50.94 million. As a group, equities research analysts predict that Beyond Meat will post -0.24 EPS for the current year.

In other news, major shareholder Perkins Caufield & Bye Kleiner sold 723,862 shares of the stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $154.00, for a total value of $111,474,748.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Diane Carhart sold 9,069 shares of the stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $160.00, for a total transaction of $1,451,040.00. The disclosure for this sale can be found here. Insiders sold 821,957 shares of company stock valued at $127,169,948 over the last quarter.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Rocky Mountain Advisers LLC acquired a new stake in shares of Beyond Meat in the second quarter valued at about $32,000. Sandy Spring Bank acquired a new stake in shares of Beyond Meat in the second quarter valued at about $32,000. Sterling Investment Advisors Ltd. acquired a new stake in shares of Beyond Meat in the second quarter valued at about $32,000. Golden State Wealth Management LLC acquired a new stake in shares of Beyond Meat in the second quarter valued at about $40,000. Finally, Steward Partners Investment Advisory LLC acquired a new stake in shares of Beyond Meat in the second quarter valued at about $53,000. Institutional investors and hedge funds own 2.69% of the company’s stock.

About Beyond Meat

Beyond Meat, Inc, a food company, manufactures, markets, and sells plant-based meat products in the United States and internationally. The company sells its products under the Beyond Beef, Beyond Chicken, The Beyond Burger, Beyond Meat, Beyond Sausage, Eat What You Love, and The Cookout Classic brand names.

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Analyst Recommendations for Beyond Meat (NASDAQ:BYND)

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