Hormel Foods has seen its share price increase by 3.0%, Kellogg has seen its share price increase by 16.4%, and Campbell Soup has seen its share price increase by 30.5%. Beyond Meat lowered its 2022 outlook dramatically after its last report, saying it might only grow sales by around 3, rather than the 21 spike they had been targeting. The share price of Tyson Foods TSN +0.32%, a company that produces beef, pig, chicken, and ready-made foods, has decreased by almost 24 percent this year. This year, the performance of other participants in the traditional food business has been more favorable. The average Beyond Meat stock price prediction. They have lost almost 77% of their value so far this year. On average, Wall Street analysts predict that Beyond Meats share price could reach 13.00 by Jun 1, 2024. On Friday, Beyond Meat Stock dropped by around 8.9%. If yes, then on this page you will find useful information about the dynamics of the BYNDstock price in 2022-2027. Beyond Meat’s average price of $8.35 per pound for ground beef in the third quarter of 2022 is already 72% more than the USDA’s $4.85 per pound for ground beef in September 2022.” It now expects its revenue to decline 9 to 14 in 2022, compared to its August forecast for 1 to 12 growth and its May forecast for 21 to 33 growth. At that time, the stock price had already dropped 81% in 2022, but Theurer predicted that “the worst is still to come.”Īccording to a piece of writing he produced at the time, he stated that “despite our request for considerably higher beef prices by 2025, alternative meat companies may not necessarily gain.” “It takes time for consumer habits to change. The downgrade by Argus comes on the heels of a previous one by a Barclays analyst named Benjamin Theurer, who moved his rating on the stock from Equal Weight to Underweight a month ago. She stated that even though Beyond Meat has attempted to refocus its focus on “core products and positive cash flow,” it is doubtful that this will be sufficient to counteract low demand and ongoing losses. In addition, there is an increase in competition within the sector, and the company has been impacted “by ‘poor utilization’ charges and termination costs from co-manufacturers.”Īccording to Ruggeri, who referred to the layoffs of personnel at Beyond Meat and the continuing low utilization charges, the future does not appear to be very promising. Traders who pay close attention to intraday price movement should know that it fluctuated between 12.09 and 12.79. Today, its market cap sits around 3 billion. (NASDAQ:BYND) closed higher on Monday, June 12, closing at 12.38, 2.65 higher than its previous close. However, according to the experts, Kristina Ruggeri led, the demand for plant-based protein has decreased as customers hunt for less expensive alternatives. At the time, Beyond Meat stock was one of the hottest IPOs in history and quickly became a 12 billion company after premiering at a valuation of about 1.5 billion. The analysts cited sluggish demand and extensive losses at the creator of plant-based meat replacements as the primary reasons for their decision.īeyond Meat (NASDAQ:BYND) has distributed its products to retail locations and quick-service restaurants, including Pizza Hut, McDonald’s, and KFC. All Rights Reserved.On Friday, Beyond Meat stock fell after the company’s stock was downgraded to Sell from Hold by analysts at Argus Research.
Correction: This story was updated to reflect that Beyond Meat. All content of the Dow Jones branded indices © S&P Dow Jones Indices LLC 2019 and/or its affiliates. For 2022, Beyond expects full-year sales between 400 million to 425 million, reiterating the lower forecast it released in October. Beyond Meats management maintained its full-year revenue. Standard & Poor's and S&P are registered trademarks of Standard & Poor's Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. The company had a negative gross profit margin in 2022 but its gross margin jumped to 6.7 in Q1.
Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. Factset: FactSet Research Systems Inc.2019. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. Amelia Lucas Thxamelian Key Points Beyond Meat’s stock cratered 17 in premarket trading as analysts shared their doubts about the company’s future growth. Is Beyond Meat Stock a Buy The Motley Fool Premium Services Stock Advisor Our Flagship Service Return 463 S&P Return 125 Rule Breakers High-growth Stocks Return 232 S&P Return 106.
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