Fintel reports that on February 29, 2024, Argus Research upgraded their outlook for Beyond Meat (NasdaqGS:BYND) from Sell to Hold .
Analyst Price Forecast Suggests 40.34% Downside
As of February 24, 2024, the average one-year price target for Beyond Meat is 5.86. The forecasts range from a low of 3.03 to a high of $9.45. The average price target represents a decrease of 40.34% from its latest reported closing price of 9.83.
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The projected annual revenue for Beyond Meat is 525MM, an increase of 52.98%. The projected annual non-GAAP EPS is -2.73.
What is the Fund Sentiment?
There are 389 funds or institutions reporting positions in Beyond Meat. This is a decrease of 9 owner(s) or 2.26% in the last quarter. Average portfolio weight of all funds dedicated to BYND is 0.03%, a decrease of 39.25%. Total shares owned by institutions decreased in the last three months by 5.75% to 31,622K shares. 
The put/call ratio of BYND is 1.57, indicating a bearish outlook.
What are Other Shareholders Doing?
Parkwood holds 5,400K shares representing 8.37% ownership of the company. No change in the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 1,838K shares representing 2.85% ownership of the company. In it's prior filing, the firm reported owning 1,780K shares, representing an increase of 3.14%. The firm decreased its portfolio allocation in BYND by 20.58% over the last quarter.
IWM - iShares Russell 2000 ETF holds 1,592K shares representing 2.47% ownership of the company. In it's prior filing, the firm reported owning 1,374K shares, representing an increase of 13.69%. The firm decreased its portfolio allocation in BYND by 17.12% over the last quarter.
NAESX - Vanguard Small-Cap Index Fund Investor Shares holds 1,571K shares representing 2.43% ownership of the company. In it's prior filing, the firm reported owning 1,575K shares, representing a decrease of 0.26%. The firm decreased its portfolio allocation in BYND by 22.49% over the last quarter.
Geode Capital Management holds 1,359K shares representing 2.11% ownership of the company. In it's prior filing, the firm reported owning 1,290K shares, representing an increase of 5.13%. The firm decreased its portfolio allocation in BYND by 14.34% 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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