On February 24, 2023 at 09:51:05 (ET) an unusually large $420.94K block of Call contracts in Beyond Meat (BYND) was bought, with a strike price of $18.00 / share, expiring in 0 days (on February 24, 2023). Fintel tracks all large options trades, and the premium spent on this trade was 2.12 sigmas above the mean, placing it in the 95.94 percentile of all recent large trades made in BYND options.
Analyst Price Forecast Suggests 38.51% Downside
As of February 23, 2023, the average one-year price target for Beyond Meat is $10.54. The forecasts range from a low of $5.05 to a high of $15.75. The average price target represents a decrease of 38.51% from its latest reported closing price of $17.14.
The projected annual revenue for Beyond Meat is $428MM, an increase of 2.21%. The projected annual EPS is -$3.69.
What is the Fund Sentiment?
There are 440 funds or institutions reporting positions in Beyond Meat. This is a decrease of 91 owner(s) or 17.14% in the last quarter. Average portfolio weight of all funds dedicated to BYND is 0.11%, an increase of 51.69%. Total shares owned by institutions decreased in the last three months by 7.83% to 27,609K shares. The put/call ratio of BYND is 1.58, indicating a bearish outlook.
What are large shareholders doing?
VTSMX – Vanguard Total Stock Market Index Fund Investor Shares holds 1,654K shares representing 2.60% ownership of the company. In it’s prior filing, the firm reported owning 1,699K shares, representing a decrease of 2.68%. The firm decreased its portfolio allocation in BYND by 39.91% over the last quarter.
Whitebox Advisors holds 1,470K shares representing 2.31% ownership of the company. In it’s prior filing, the firm reported owning 340K shares, representing an increase of 76.87%. The firm increased its portfolio allocation in BYND by 130.44% over the last quarter.
NAESX – Vanguard Small-Cap Index Fund Investor Shares holds 1,454K shares representing 2.28% ownership of the company. In it’s prior filing, the firm reported owning 1,447K shares, representing an increase of 0.45%. The firm decreased its portfolio allocation in BYND by 38.00% over the last quarter.
IWM – iShares Russell 2000 ETF holds 1,345K shares representing 2.11% ownership of the company. In it’s prior filing, the firm reported owning 1,400K shares, representing a decrease of 4.11%. The firm decreased its portfolio allocation in BYND by 38.43% over the last quarter.
Geode Capital Management holds 1,114K shares representing 1.75% ownership of the company. In it’s prior filing, the firm reported owning 1,094K shares, representing an increase of 1.83%. The firm decreased its portfolio allocation in BYND by 18.13% 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.
This article originally appeared on Fintel
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