Ocean Capital Management LLC Purchases New Stake in Beyond Meat (NASDAQ:BYND)

Ocean Capital Management LLC purchased a new stake in Beyond Meat (NASDAQ:BYND) during the 2nd quarter, Holdings Channel reports. The institutional investor purchased 3,168 shares of the company’s stock, valued at approximately $509,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Atalanta Sosnoff Capital LLC bought a new position in shares of Beyond Meat during the 2nd quarter valued at about $6,571,000. Commerzbank Aktiengesellschaft FI bought a new stake in shares of Beyond Meat during the 2nd quarter worth approximately $4,468,000. SG Americas Securities LLC bought a new stake in shares of Beyond Meat during the 2nd quarter worth approximately $3,125,000. DekaBank Deutsche Girozentrale bought a new stake in shares of Beyond Meat during the 2nd quarter worth approximately $1,083,000. Finally, Commonwealth Equity Services LLC bought a new stake in shares of Beyond Meat during the 2nd quarter worth approximately $1,057,000. 0.30% of the stock is currently owned by hedge funds and other institutional investors.

BYND traded down $22.99 during trading hours on Thursday, reaching $139.91. The company’s stock had a trading volume of 6,817,039 shares, compared to its average volume of 8,391,746. Beyond Meat has a 52 week low of $45.00 and a 52 week high of $239.71. The company’s 50-day simple moving average is $174.38. The company has a current ratio of 8.95, a quick ratio of 7.90 and a debt-to-equity ratio of 0.07.

Beyond Meat (NASDAQ:BYND) last posted its quarterly earnings results on Monday, July 29th. The company reported $0.01 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.09. The business had revenue of $67.25 million during the quarter, compared to the consensus estimate of $50.94 million. Equities analysts forecast that Beyond Meat will post -0.23 earnings per share for the current year.

In other Beyond Meat news, major shareholder Perkins Caufield & Bye Kleiner sold 723,862 shares of the company’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $154.00, for a total value of $111,474,748.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Charles Muth sold 24,574 shares of the company’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $160.00, for a total value of $3,931,840.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 821,957 shares of company stock worth $127,169,948.

A number of brokerages have recently issued reports on BYND. Credit Suisse Group upped their price objective on Beyond Meat from $70.00 to $125.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 9th. Goldman Sachs Group started coverage on Beyond Meat in a research note on Monday, May 27th. They issued a “neutral” rating and a $67.00 price target on the stock. JPMorgan Chase & Co. cut Beyond Meat from an “overweight” rating to a “neutral” rating and increased their price target for the company from $120.00 to $121.00 in a research note on Tuesday, June 11th. They noted that the move was a valuation call. William Blair started coverage on Beyond Meat in a research note on Tuesday, May 28th. They issued a “market perform” rating on the stock. Finally, Jefferies Financial Group increased their price target on Beyond Meat from $85.00 to $105.00 and gave the company a “hold” rating in a research note on Friday, June 7th. They noted that the move was a valuation call. Eight analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The company has an average rating of “Hold” and an average target price of $126.17.

Beyond Meat Company Profile

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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Want to see what other hedge funds are holding BYND? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Beyond Meat (NASDAQ:BYND).

Institutional Ownership by Quarter for Beyond Meat (NASDAQ:BYND)

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