Fintel reports that on September 22, 2023, Piper Sandler maintained coverage of Beyond Meat (NASDAQ:BYND) with a Underweight recommendation.
Analyst Price Forecast Suggests 8.62% Upside
As of August 31, 2023, the average one-year price target for Beyond Meat is 10.71. The forecasts range from a low of 4.54 to a high of $13.65. The average price target represents an increase of 8.62% from its latest reported closing price of 9.86.
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The projected annual revenue for Beyond Meat is 428MM, an increase of 20.00%. The projected annual non-GAAP EPS is -3.69.
What is the Fund Sentiment?
There are 382 funds or institutions reporting positions in Beyond Meat. This is a decrease of 29 owner(s) or 7.06% in the last quarter. Average portfolio weight of all funds dedicated to BYND is 0.06%, a decrease of 23.68%. Total shares owned by institutions increased in the last three months by 27.64% to 31,523K shares. 
The put/call ratio of BYND is 1.28, indicating a bearish outlook.
What are Other Shareholders Doing?
Parkwood holds 5,400K shares representing 8.39% ownership of the company.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 1,780K shares representing 2.77% ownership of the company. No change in the last quarter.
NAESX - Vanguard Small-Cap Index Fund Investor Shares holds 1,575K shares representing 2.45% ownership of the company. In it's prior filing, the firm reported owning 1,497K shares, representing an increase of 4.94%. The firm decreased its portfolio allocation in BYND by 19.96% over the last quarter.
IWM - iShares Russell 2000 ETF holds 1,377K shares representing 2.14% ownership of the company. In it's prior filing, the firm reported owning 1,328K shares, representing an increase of 3.53%. The firm decreased its portfolio allocation in BYND by 23.58% over the last quarter.
Geode Capital Management holds 1,191K shares representing 1.85% ownership of the company. In it's prior filing, the firm reported owning 1,166K shares, representing an increase of 2.08%. The firm decreased its portfolio allocation in BYND by 26.09% over the last quarter.
Beyond Meat Background Information
(This description is provided by the company.)
Beyond Meat, Inc. is one of the fastest growing food companies in the United States, offering a portfolio of revolutionary plant-based meats made from simple ingredients without GMOs, bioengineered ingredients, hormones, antibiotics, or cholesterol. Founded in 2009, Beyond Meat products are designed to have the same taste and texture as animal-based meat while being better for people and the planet. Beyond Meat's brand commitment, Eat What You Love™, represents a strong belief that there is a better way to feed our future and that the positive choices we all make, no matter how small, can have a great impact on our personal health and the health of our planet. By shifting from animal-based meat to plant-based meat, the company can positively impact for growing global issues: human health, climate change, constraints on natural resources and animal welfare. As of December 31, 2020, Beyond Meat had products available at approximately 122,000 retail and foodservice outlets in over 80 countries worldwide.
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