Beyond Meat FY2024 EPS Forecast Increased by William Blair

Beyond Meat, Inc. (NASDAQ:BYND) – Research analysts at William Blair upped their FY2024 earnings estimates for Beyond Meat in a note issued to investors on Wednesday, November 6th. William Blair analyst J. Andersen now forecasts that the company will post earnings of ($2.07) per share for the year, up from their prior estimate of ($2.09). The consensus estimate for Beyond Meat’s current full-year earnings is ($2.04) per share. William Blair also issued estimates for Beyond Meat’s Q4 2024 earnings at ($0.41) EPS and FY2025 earnings at ($1.65) EPS.

Several other brokerages have also issued reports on BYND. Mizuho reduced their target price on shares of Beyond Meat from $6.00 to $5.00 and set an “underperform” rating on the stock in a research note on Monday, August 26th. BMO Capital Markets reduced their price objective on shares of Beyond Meat from $9.00 to $6.00 and set a “market perform” rating on the stock in a research note on Thursday, August 8th. Four analysts have rated the stock with a sell rating and three have given a hold rating to the company. Based on data from MarketBeat, Beyond Meat currently has an average rating of “Reduce” and a consensus target price of $5.42.

Beyond Meat Trading Down 1.9 %

Beyond Meat stock opened at $5.27 on Monday. The business’s 50-day simple moving average is $6.35 and its 200 day simple moving average is $6.61. Beyond Meat has a 12-month low of $5.10 and a 12-month high of $12.12.

Beyond Meat (NASDAQ:BYND) last posted its quarterly earnings data on Wednesday, November 6th. The company reported ($0.41) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.44) by $0.03. The firm had revenue of $81.01 million for the quarter, compared to analyst estimates of $80.13 million. The firm’s quarterly revenue was up 7.6% compared to the same quarter last year. During the same period in the prior year, the company posted ($1.09) EPS.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of BYND. Vanguard Group Inc. lifted its stake in Beyond Meat by 3.0% in the first quarter. Vanguard Group Inc. now owns 5,351,777 shares of the company’s stock valued at $44,313,000 after buying an additional 155,653 shares in the last quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd raised its holdings in shares of Beyond Meat by 42.7% in the 3rd quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 625,396 shares of the company’s stock valued at $4,240,000 after purchasing an additional 186,996 shares during the period. Vontobel Holding Ltd. lifted its stake in Beyond Meat by 91.5% in the 3rd quarter. Vontobel Holding Ltd. now owns 569,773 shares of the company’s stock valued at $3,863,000 after purchasing an additional 272,240 shares during the last quarter. SG Americas Securities LLC grew its holdings in Beyond Meat by 141.8% during the second 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. Finally, Bank of New York Mellon Corp increased its position in Beyond Meat by 5.3% during the second quarter. Bank of New York Mellon Corp now owns 235,016 shares of the company’s stock worth $1,577,000 after buying an additional 11,800 shares during the last quarter. Institutional investors and hedge funds own 52.48% of the company’s stock.

About Beyond Meat

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.