155.81 +4.33 (2.86%)
Pre-Market: 7:01AM EDT
|Bid||153.20 x 900|
|Ask||155.00 x 1200|
|Day's Range||141.80 - 157.90|
|52 Week Range||45.00 - 186.43|
|Beta (3Y Monthly)||N/A|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||82.83|
The maker of plant-based burgers reported first-quarter earnings that exceeded Wall Street estimates last week, but the stock jumped because people betting against Beyond Meat went through the grinder.
Calls to a dozen Red Robins and the same number of White Castles on Thursday found that only two locations of each chain had Impossible Foods Inc.’s patties available. White Castle said on Friday the patties would be back no later than June 17.
Restaurant Brands International Inc. (TSX:QSR)(NYSE:QSR) is taking Beyond Meat Inc. (NASDAQ:BYND) to the bank. Why I'd double down on the Canadian icon.
More than 60% of consumers are actively adding protein to their diets, and 75% are open to including both meat and plant-based proteins, according to Noelle O’Mara, chief marketing officer at Tyson. For plant-based proteins specifically, 40% of consumers want more in their diet. Tyson’s beef-plant hybrid burger, sold under the brand Raised & Rooted, is expected to reach consumers in the fall.
The optimist, however, ascribes a valuation to the company below even the lowest target on Wall Street. Bernstein has pegged BYND’s current market share at around 2% and sees an increase to 5% by 2028, while others, like Damodaran, see a bigger impact, with potential market share in the high teens and low 20s.
Tyson Foods, once part owner of Beyond Meat, announced its own pea-protein burger. The company is taking a different approach to alternative meat, blending vegetable protein with animal protein.
My/Mo Mochi Ice Cream CMO Russell Barnett joined The Final Round on Yahoo Finance to discuss how he's using modern marketing to bring this 109 year old treat to the masses.
Shares of Beyond Meat were up slightly Thursday after falling about 4% in premarket trading after Tyson Foods announced plans to launch plant-based nuggets this summer.
Online pet-products retailer Chewy is expected to price its IPO, and chipmaker Broadcom will report earnings Thursday.
Shares of alternative meat company Beyond Meat rose more than 17% on Wednesday despite being downgraded by J.P. Morgan and Bernstein this week.
Bernstein, the last Street firm with a bullish rating on Beyond Meat, downgraded the company on Wednesday, citing its spectacular gains.
JPMorgan Chase & Co.’s Ken Goldman cut his recommendation on the stock to neutral from overweight, saying it’s now too expensive, with a $10 billion enterprise value that’s 27 times estimated 2020 sales. The stock had surged 572% higher from its debut through Monday as restaurants companies including Tim Horton's and Chanticleer Holdings Inc., which owns several burger brands and operations a handful of Hooters restaurants, test its alternative meat products. Meanwhile, reports Tuesday that McDonald's Corp. may extend tests of a plant-based burger made by Nestle SA, also likely presssured Beyond Meat shares.
The IPO market has carried on with strength in recent weeks, with the likes of Zoom and Beyond Meat grinding higher on impressive early numbers. Technicals have also looked bullish, with major indexes including the Russell 2000 bouncing off important support levels. That suggests a positive outlook in the near term, as highlighted in All […]