|Bid||119.37 x 1100|
|Ask||119.50 x 1000|
|Day's Range||116.43 - 126.73|
|52 Week Range||45.00 - 239.71|
|Beta (5Y Monthly)||N/A|
|PE Ratio (TTM)||N/A|
|Earnings Date||Oct. 27, 2019|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||105.84|
Jan.14 -- Beyond Meat Inc. rose 10% in pre-market trading following a report that the faux-meat maker hopes expand into the Chinese mainland market this year. Abigail Doolittle reports on "Bloomberg Markets."
Continued focus on expanding customer base and production facility along with solid demand is likely to have aided Beyond Meat's (BYND) performance in fourth-quarter 2019.
(Bloomberg) -- Starbucks Corp., the world’s biggest coffee-shop chain, is looking into meat alternatives to rev up its breakfast menu, and that caught the attention of Beyond Meat Inc. investors.Seattle-based Starbucks said in an email to Bloomberg News that it’s “exploring meat alternatives” for its breakfast menu, but declined to comment on specific partnerships or brands. Major restaurants have raced to include faux meat as consumers warm to plant-based products that have the look and feel of meat.Beyond Meat shares jumped as much as 14% to $124.82 on Tuesday. Rupesh Parikh, an analyst at Oppenheimer, said the Starbucks announcement illustrates how the market for faux-meat products continues to grow.“It shows how the trend continues to go mainstream,” Parikh said in an email. “Beyond likely has a chance at selling products at Starbucks.”Beyond Meat has already partnered with McDonald’s Corp. for testing in Canada. The company’s imitation beef and sausage products are becoming increasingly widespread in North American restaurants.Starbucks, meanwhile, has been adding dairy alternatives to its beverage menu, with the recent addition of oat milk at about 1,300 of its 14,000 U.S. locations. The company has also tried to add more healthy options to its menu in recent years in addition to high-calorie breakfast pastries. That’s included cauliflower-tabbouleh salads and almond-butter sandwiches.Starbucks also announced Tuesday that it’s trying to reduce its carbon footprint by curbing emissions, water usage and waste. The company’s shares fell less than 1% in New York trading on Tuesday.To contact the reporters on this story: Leslie Patton in Chicago at firstname.lastname@example.org;Andres Guerra Luz in New York at email@example.comTo contact the editors responsible for this story: Sally Bakewell at firstname.lastname@example.org, Jonathan Roeder, Lisa WolfsonFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Yahoo Finance speaks exclusively with Wingstop CEO Charlie Morrison fresh off the company's first-ever investor day.
(Bloomberg) -- Nestle SA is introducing faux sausages to its meat-substitute lineup as competition for imitation meat spreads beyond burgers.The KitKat maker will start selling a pea protein-based sausage in the U.S. and a soy-based version in Europe this spring, the company said.The Swiss food giant joins rivals Impossible Foods Inc. and Beyond Meat Inc. in a race to offer plant-based meat alternatives after demand for vegan burgers exploded.“The burger was what you would call in the tech industry the killer app -- it got the whole plant-based trend running,” Chief Executive Officer Mark Schneider said at a media event in Zurich on Thursday. “But it’s not enough to just have a burger.”Nestle is also developing plant-based tuna for its first fish substitute, Chief Technology Officer Stefan Palzer said. The tuna product could be added to pizza, sushi or served as a patty, he added.The company already has a range of meat alternatives on the market, including grounds, nuggets and schnitzels. Grounds could be a bigger opportunity than burgers in Europe, Schneider said.While Impossible Foods and Beyond Meat’s products got picked up by restaurants and fast-food chains like Burger King and racing-driver Lewis Hamilton’s new Neat Burger chain, Nestle’s tie-up with McDonald’s is so far limited to Germany. But the Swiss food giant has the advantage of a vast distribution network, which means it can easily roll out new products across supermarkets.“There’s an overall opportunity in both in-home and out-of-home, and we’re committed to playing ball,” Schneider said. “In this space, we play to win.”To contact the reporter on this story: Corinne Gretler in Zurich at email@example.comTo contact the editors responsible for this story: Eric Pfanner at firstname.lastname@example.org, Jonathan RoederFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
The Zacks Analyst Blog Highlights: Beyond Meat, UBS, Walmart, Restaurant Brands International and Conagra Brands
In U.S. stores, shoppers now have more options for plant-based "faux foods" as firms are gradually unveiling more products in the competitive supermarket aisle.
The Los Angeles-based company said on Tuesday its latest funding was led by Qatar Investment Authority and included Temasek Holdings, Canada-based Calridge, Hong Kong's Green Monday Ventures and a Latin America based family with big interests in coffee and consumer products. The investor rush into plant-based milk comes as cow milk consumption is falling, partly due to health and environmental reasons, leading to two of the largest dairy producers in the United States - Dean Foods and Borden Dairy Company - filing for bankruptcy protection in the past two months.
Beyond Meat (BYND), a leader in plant-based meat, today announced a multi-year pea protein supply agreement with Roquette, a global leader in plant-based ingredients and a pioneer of plant proteins. The supply agreement builds on a longstanding partnership that began approximately ten years ago, and significantly increases the amount of pea protein to be supplied by Roquette to Beyond Meat over the next three years as compared to the amount supplied in 2019.
In wake of rising demand for meatless alternative, Kroger (KR) ventures into plant based fresh meat under the name Simple Truth Emerge.
Shares of newly-listed Saudi Arabian Oil Co., or Saudi Aramco, have suffered on fears of all-out war between the United States and Iran, but there are unique features that should prevent an outright selloff. That's according to IPO Edge Editor-in-Chief John Jannarone, who spoke to Cheddar TV in an interview available here. Jannarone explained that […]
Impossible Foods CEO Pat Brown slammed the meat industry in an interview with Yahoo Finance, calling it "the most destructive technology on Earth by far."
Iran Responds, Minimally Iran has responded to the killing of General Qassem Solemani with ballistic missiles against US forces in Iraq. As far as the media is aware, there were no US casualties, meaning the response could be little more than a face-saving operation to assuage the Iranian people rather than inflict actual damage on […]The post Market Morning: Iran Responds, Another 737 Down, Impossible Scraps McDonald's, Aramco Falls appeared first on Market Exclusive.
Cashing in on rising demand for imitation meat, major retailers including Kroger and Walmart recently began to carry Beyond Meat's plant-based burgers and sausages. Now, several stores are creating similar products that will compete with Beyond Meat. Kroger Co , the biggest U.S. grocer, on Wednesday rolled out its own line of plant-based imitation meat burgers nationwide under its Simple Truth in-house brand.
(Bloomberg) -- Faux burger maker Beyond Meat Inc. extended stock-market gains on Tuesday following a report that its main competitor, Impossible Foods Inc., is no longer seeking a deal to be a supplier for fast-food giant McDonald’s Inc.Impossible Foods Chief Executive Officer Pat Brown said his company wouldn’t be able to produce enough supply for such a big partnership, Reuters reported. Contacted by Bloomberg, Impossible Foods said its CEO’s comments were misinterpreted.“Our ambition is to be everywhere,” Impossible Foods spokeswoman Rachel Konrad said. “We would never close the door, never abandon a relationship.”The initial report sent Beyond Meat surging 12% to $83.89 at the close, the most in almost seven months. The shares pared gains in extended trading after Impossible Foods disputed the Reuters article.McDonald’s said in an email that the Beyond Meat patties that have been tested at some Canada locations are “exclusive” for the fast-food chain “with a recipe that is made by McDonald’s, for McDonald’s.” The company didn’t mention Impossible Foods.Beyond Meat declined to comment.Beyond Meat may already have the inside track. In September, McDonald’s picked Beyond Meat for a test of a plant-based burger in Canada. And Beyond Meat CEO Ethan Brown said a month later that he expected the test to lead to more work with the fast-food giant.At the time, McDonald’s said it would sell the patty, known as a P.L.T., which stands for plant, lettuce and tomato, at 28 restaurants in Ontario over a three-month period.Impossible Foods already has a major partnership with Burger King, however, which produces the Impossible Whopper. Both companies have secured contracts with restaurant companies in recent months as consumers increasingly warm to plant-based products that have the look and taste of meat.Neither Beyond nor Impossible have the current scale to supply all of McDonald’s 14,000 U.S. locations, Bloomberg Intelligence analyst Mike Halen said, noting the size discrepancy between the U.S. and Canadian markets.(adds analyst comment in last paragraph)\--With assistance from Leslie Patton, Nancy Moran and Lisa Wolfson.To contact the reporters on this story: Deena Shanker in New York at email@example.com;Jonathan Roeder in Chicago at firstname.lastname@example.orgTo contact the editor responsible for this story: Sally Bakewell at email@example.comFor more articles like this, please visit us at bloomberg.com©2020 Bloomberg L.P.
The Iran Mess Gets Messier The Defense Secretary contradicts a Brigadier General. The Pentagon contradicts the President while he draws up sanctions against an ally. It’s getting very confusing on the foreign policy front and it appears one part of the system doesn’t know what the other part is doing. In a letter sent by […]The post Market Morning: Mideast Policy Chaos, Brexit Continues, Impossible Pork, China Changes Mind appeared first on Market Exclusive.
Burger King is doubling down on its big bet on the plant-based meat craze with a new addition to its breakfast menu.
TORONTO, Jan. 6, 2020 /CNW/ - Guests from coast-to-coast can now savour NEW Beyond Meatball™ subs exclusively from Subway® Canada. The plant-based Beyond Meatball™ offers as much mouth-watering flavour as the traditional meatball from Subway and is packed with protein – 22 grams per six-inch sub. The plant-based Beyond Meatball™ is complemented by Subway® Canada's iconic and irresistible marinara sauce, sprinkled with grated parmesan, topped with shredded mozzarella and Monterey Jack cheese, and perfectly toasted to form the Beyond Meatball™ Marinara Sub.