|Bid||144.48 x 800|
|Ask||144.75 x 1200|
|Day's Range||136.27 - 148.54|
|52 Week Range||45.00 - 239.71|
|Beta (3Y Monthly)||N/A|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||165.29|
Beyond Meat (BYND) stock fell 11.5% yesterday, seemingly on no major news. While BYND’s prospects look promising, its stock still experiences wild swings.
Shares of the plant-based meat substitute were sliding again, though there was little news out on the company. Here are some possible explanations.
During the first six months of 2019, WeWork’s revenues and losses from operations almost doubled compared to the same period in 2018.
After Beyond Meat's (BYND) stock rose to more than nine times its IPO price in less than three months, it fell 28% from its high of $234.9 on July 26.
Welcome to the latest episode of the Full-Court Finance podcast from Zacks Investment Research where Associate Stock Strategist Ben Rains and guest Madeleine Johnson dive into the world of coffee to see how the major publicly traded firms from Starbucks (SBUX) to Dunkin' (DNKN) have performed...
(Bloomberg) -- The world’s largest pork processor is entering the fast-growing market for plant-based protein.Smithfield Foods, a $15 billion food company, is launching a new line of soy-based products under its Pure Farmland brand, including burgers, meatballs and breakfast patties, according to a statement on Monday.Big meat companies are racing to catch-up as plant-based protein resonates with consumers. Beyond Meat Inc. has surged since its trading debut in May and its burgers and sausages are now in thousands of stores and restaurants across the U.S. Impossible Foods, its chief rival, recently expanded its burger nationwide with the fast-food chain Burger King.Smithfield follows other large meat companies in embracing alternative protein. Tyson Foods has announced it will offer a burger made of half beef and half pea protein, while Perdue Farms is launching “Chicken Plus” nuggets made from a blend of chicken, cauliflower and chickpeas.The companies, watching the success of Beyond and Impossible, are trying to cash in on the rise of the “flexitarian” lifestyle --consumers who aren’t avoiding meat entirely, but want to reduce their consumption by replacing it with other plant-based options. The plant-based category could capture as much as 10% of the global meat market in ten years, reaching $140 billion, according to a recent report from Barclays.Smithfield was acquired in 2013 by Hong Kong-listed WH Group. In recent years, it has tried to push deeper into the market for packaged foods, focusing on products like sliced ham and marinated pork chops, to offset volatility in its commodity business.To contact the reporters on this story: Deena Shanker in New York at email@example.com;Lydia Mulvany in Chicago at firstname.lastname@example.orgTo contact the editors responsible for this story: Anne Riley Moffat at email@example.com, Craig GiammonaFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
The competition for control of the burgeoning market for burger replacements(and other alternatives to animal proteins) continues to heat up
(Bloomberg) -- The meatless-meat category is facing a renaissance, and legacy veggie burger brands are fighting to stay relevant in the frozen-food aisle.Frozen bean and veggie-based patties dominated the market for meat alternatives for years. Now, Impossible Foods Inc. and Beyond Meat Inc. have grabbed the attention of vegans and meat-eaters alike by developing plant-based burgers that imitate beef, even using beet powder or other ingredients to make the patties “bleed.”“It isn’t like this is a totally new space,” said Bob Nolan, senior vice president of demand sciences at Conagra Brands Inc. Veggie patties have been around for years, but they weren’t “of the quality that they are today.” he said.Since Beyond Meat arrived on the scene in 2013, sales of meat substitutes among the nine largest producers have climbed 56%, according to Euromonitor International. Yet with more upstarts entering the market, the share among companies is spread thinner every year. Kellogg Co.’s MorningStar Farms brand has lost about half of its piece of the pie since 2013, even as its sales have grown, data from the research firm show.A fresh focus on plant-based meat substitutes has encouraged alternative protein makers to change their recipes, upgrade packaging and invest in new plant-based initiatives. Some brands have extended their scope to meatless chicken, bacon and sausages to further differentiate in an increasingly crowded veggie burger aisle.People used to view meat alternatives “as a compromise,” Nolan said. “These new guys showing up have brought new attention into it.”Getting CloserKraft Heinz Co.-owned Boca went through a brand refresh in 2018 that included improving taste and texture to “get closer to the real thing,” said Lynne Galia, a company spokeswoman. The company also changed its packaging to clearly display protein contents.MorningStar Farms has added meatless popcorn chicken to its portfolio to attract customers who are increasingly interested in snacking. The company has also pledged to be 100% vegan by 2021, removing eggs from all of its products.Conagra agreed to buy Pinnacle Foods in June 2018, giving it access to Gardein’s line of meatless chicken, burgers, fish and breakfast sausage. Last month, Conagra started selling a new spicy Gardein item that’s supposed to mimic chicken, and is made with wheat flour, canola oil and pea protein. The Chicago company also is working on new veggie meals under its Healthy Choice and Birds Eye brands.Private label is looking to get into the plant-based craze, too. No frills grocer Aldi began selling a plant-foods line in January 2018 for a limited time under its new Earth Grown brand. Customer response was so overwhelming that Aldi decided to keep some of the products around -- introducing them permanently nationwide last August.That seven-month launch “was by far the fastest turnaround we’ve ever had,” said Scott Patton, vice president of corporate buying at Aldi. Earth Grown sales have tripled in the past 18 months.Growth OpportunitiesPlant-based meat that mimics the real thing is one of today’s buzziest food trends, seeking to attract flexitarians who are trying to eat less meat. Barclays Plc has predicted that the plant-based food market will be worth as much as $140 billion in 10 years.Companies that choose not to invest in developing better meat alternatives are going to miss out on both the opportunity side of growth and expose themselves to risks, said Aarti Ramachandran, head of research and engagements at sustainable development advocate FAIRR Initiative. With climate change in the picture, the costs to maintain animal supply chains will become more expensive, she said.“Startups have really led this space in terms of innovation and now big food companies can bring the scale of their innovation and bandwidth prowess to this issue so the category can rally scale up and reach a broader audience,” she said.To contact the reporters on this story: Olivia Rockeman in New York at firstname.lastname@example.org;Leslie Patton in Chicago at email@example.comTo contact the editors responsible for this story: Anne Riley Moffat at firstname.lastname@example.org, Lisa Wolfson, Jonathan RoederFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Beyond Meat Inc has shelved plans to enter Japan, according to a Japan-based investor, focusing more on the U.S. market where it recently bolstered funding to fuel an expansion and beat out emerging faux-meat rivals. Japanese trading house Mitsui & Co Ltd , which bought a small stake in Beyond Meat in 2016, said it previously planned to partner with the U.S. company to sell plant-based meat alternatives in Japan, but there was no longer such a project. A Beyond Meat spokeswoman said she could not immediately comment, while a Mitsui spokeswoman declined to give a reason for the change, adding that future expansion in Japan was still possible.
Yahoo Finance took to the streets of New York City to see what eaters actually thought of the new Burger King Impossible Whopper.
(Bloomberg) -- Beyond Meat Inc., the faux meat maker whose stock has surged since its May public offering, is partnering with the Subway chain to create plant-based meatballs.Subway, with its more than 28,000 locations in North America, would represent Beyond Meat’s biggest restaurant customer yet as the maker of meat substitute expands its distribution. The Beyond Meatball Marinara sub will be tested in 685 Subway locations for a limited time in the U.S. and Canada starting in September.Restaurant chains are flocking to Beyond Meat and its competitor Impossible Foods Inc. as growing numbers of diners look to reduce their meat consumption for environmental and health reasons. In recent months, Beyond Meat products have appeared on Tim Hortons and Dunkin’ menus, among others, and will soon be at Hardee’s. Impossible’s version of the Whopper is being expanding to Burger Kings across the U.S.CKE Restaurants, the owner of Hardee’s and Carl’s Jr., has noted that the faux meat products bring in “a brand new guest” as curious consumers try the plant-based meat. That probably appeals to Subway, which has been closing locations as its sales slump in the U.S.Beyond Meat shares rose 2.9% in early trading Wednesday. The stock has surged more than six-fold since its IPO, although it’s pared some of the gains in the past week following earnings and a deeply discounted secondary offering by inside shareholders.(Corrects story from Aug. 7 to show that Beyond Meat products have not yet arrived at Hardee’s.)To contact the reporter on this story: Jonathan Roeder in Chicago at email@example.comTo contact the editors responsible for this story: Anne Riley Moffat at firstname.lastname@example.org, Cécile DauratFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
(Bloomberg) -- Summertime is the usual high season for burgers in America, only this summer saw something unprecedented. Meatless patties made from plants and designed to “bleed,” in a faithful imitation of real red meat, exploded onto restaurant menus across the nation. Impossible Foods Inc., a Silicon Valley startup, appears to have hooked a burger-loving population on vegan food.By the end of July, Impossible said that about 10,000 restaurants—including White Castle, Red Robin and Burger King, which embarks on a nationwide rollout of Impossible products on Thursday—were serving its plant-based meat alternative, double the number of locations from April. Impossible Burgers popped up on menus as far afield as Singapore.Yet an ever-growing list of restaurants hasn’t always made the Impossible Burger easy to find. In a survey conducted by Bloomberg News last month, more than 30% of restaurants listed as locations on Impossible’s website were not serving the burger at the time. The startup has struggled to keep up with booming consumer demand and its own breakneck expansion.“We encourage consumers to call the restaurant in advance if they are visiting specifically for the Impossible Burger,” Impossible spokeswoman Rachel Konrad said in an email. “Because we don’t sell directly to restaurants, this is the best approach.”Whether the shortage—which Impossible says is now over—will be a hiccup for a startup at the forefront of a revolutionary new food category or a more persistent supply-chain problem that stunts growth remains to be seen. The issue has not slowed the company’s push into thousands of new locations, including several thousand additional Burger Kings this week. Reports of shortages first surfaced in April, shortly after the start of a regional test of the Impossible Whopper. The deal with Burger King was a coup for a product that had debuted in July 2016 on the menu of New York City’s trendy Momofuku Nishi. In less than three years, Impossible Chief Executive Officer Patrick O. Brown had moved his meatless burgers from that single restaurant to the assembly lines of one of the country’s biggest burger chains.The Impossible expansion had reached more than 7,000 restaurants on May 14, at a time when a $300 million round of new venture-capital backing brought its valuation to $2 billion. By June, the company put the total number of Impossible Burger sellers at “more than 9,000 restaurants in every state in America—as well as Hong Kong, Singapore and Macau.”That’s when some White Castle and Red Robin locations reported depleted supplies. While both chains were eventually restocked, temporary outages showed the risk of surging popularity combined with rapid expansion. Landing in White Castle was supposed to make plant-based burgers a fixture for the masses. What would disappearing from the menu mean?Bloomberg’s survey in July used a database of nearly 6,000 restaurant locations on Impossible’s website at that time. The total restaurant count cited by Impossible—more than 9,000, as of last month—includes foodservice locations such as stadiums, hotels and theme parks, the company said. “We cannot track the precise number of restaurants,” Impossible’s Konrad said in an email. In a two-week period, calls by Bloomberg to 902 restaurants from that list across the U.S. and in Asia revealed widespread impact from the shortage, with many vendors reporting waits for restock from distributors.Ten percent of restaurants in the survey told Bloomberg they had switched to a rival product from Beyond Meat Inc. “I’m not sure if we would switch back,” said Craig Charbonnet of The Po’Boy Shop in Decatur, Georgia, which opted for Beyond patties during the Impossible shortage. He said Impossible cost his shop about 25% more than burgers from Beyond.Impossible’s supply constraints have come at a crucial moment in the rise of plant-based meats. Seemingly overnight, veggie burgers have become a sought-after status symbol that confers an image of climate consciousness. After years of placing environmental blame on cars and airplanes, some consumers are starting to focus on the role of beef in producing about 6% of total manmade greenhouse-gas emissions. The marketing pitch for Impossible and its rivals in the next generation of plant-based replacements seeks to mobilize this concern: These burgers aren’t just for vegans; they’re for everyone who wants to eat less meat, without sacrificing taste. Demand for plant-based alternatives is expected to rise dramatically. A recent report from Barclays compared the surging appetite for vegan meat to the boom in plant-based milk, which has already taken 13% of the total category market share. Imitation meat could capture approximately 10% of the global meat market in 10 years, Barclays projects, reaching $140 billion in sales.As companies like Impossible and Beyond expand their reach, generating demand from consumers has proven less of a challenge so far than keeping up supplies. Swedish oat milk maker Oatly went as far as to suggest competitors’ products to its customers during a supply drought, betting that it was better to keep consumers ordering another oat option than to let them forget about it.Beyond Meat, Impossible’s biggest rival, has gone through its own shortages. Following its initial public offering—the most successful since before the 2008 recession—Beyond has answered production questions at length, promising it can take on any customer. Beyond’s share price is currently hovering around $165, up from the offering price of $25 on May 2. Beyond has a different business strategy than Impossible, working with a network of co-packers and focusing first on grocery-store distribution before it expanded into restaurants. Impossible handles all of its production at a single manufacturing plant in Oakland, California, and distributes only to restaurants right now; the startup plans to arrive in supermarkets by September. Last week Impossible said it would work with global food producer OSI Group to add short-term capacity to the plant and further ramp up output, which it says has already tripled between April and July. Konrad said the OSI deal “enables us to quadruple production from current rates by the end of this year.”In the middle of July, as Impossible declared the shortage over, many restaurants contacted in the Bloomberg survey remained out of its meatless burgers. Availability varied by region. New England had the highest rate of missing Impossible meat, with as many as 65% of restaurants in Maine and Massachusetts going without the products during a 14-day period. Stocking rates were much higher in Michigan, Ohio, and Indiana, with no more than 25% of restaurants unable to source the plant burgers.Independent restaurants were more likely than big chains to face shortages. All over the country, restaurant personnel contacted for the survey said that they were under the impression that Burger King and White Castle had bought up all the patties. Every Burger King and White Castle contacted in the survey carried Impossible Whoppers and Sliders, while 95% of Qdobas had Impossible meat and 81% of Red Robins had the burgers. Impossible says it does not prioritize chains over independent restaurants. Konrad, the spokeswoman, said the decision is left up to distributors.Impossible, like other meat-alternative makers, has set its sights on Asia, a region credited with introducing the world to predecessors like tofu and seitan. Last week Impossible said that sales had “more than quadrupled” on the continent. The survey found that 18% of the restaurants in Asian markets were out of Impossible products, including 7% of restaurants in the region that had never carried any at all.Of the roughly 10% of restaurants in the survey that switched to Beyond, some planned to return to Impossible.“People were upset,” said Onofrio Moscato, executive chef at Eventide Grille in Sea Bright, New Jersey. He said his supplier imposed a five-case-per-week limit on Impossible patties after receiving new inventory in late July. “They tried the Beyond, and it didn’t come close.” \--With assistance from Jack Pitcher, Myah Ward, Randall Williams, Denitsa Tsekova, Kyle LaHucik, Kari Soo Lindberg, Sheryl Tian Tong Lee, Leslie Patton, Lydia Mulvany and Luke McGrath.To contact the authors of this story: Deena Shanker in New York at email@example.comOlivia Rockeman in New York at firstname.lastname@example.orgTo contact the editor responsible for this story: Aaron Rutkoff at email@example.com, Anne Riley MoffatFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
TORONTO, Aug. 7, 2019 /CNW/ - Subway® fans know they can customize their favourite sub to fit any lifestyle and now guests have even more options. Today, Subway unveils a new culinary innovation partnership with Beyond Meat® to test exclusive plant-based protein options. Starting this September and for a limited time only, Subway restaurants will test the Beyond Meatball™ Marinara sub in 685 participating restaurants in Canada and the U.S.