Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
A bunch of red on your candles today, perhaps someone should tell somebody that it's far from Christmas!
Cramer Weighs In On Beyond Meat, Boston Scientific And More
8:14 am ET July 16, 2020 (Benzinga) Print
On CNBC's "Mad Money Lightning Round," Jim Cramer said that the Beyond Meat Inc (NASDAQ: BYND) franchise is good and he likes the stock.
Cramer can't recommend Scorpio Tankers Inc. (NYSE: STNG). He is looking for solid blue-chip stocks.
Crowdstrike Holdings Inc (NASDAQ: CRWD) is trading lower because people are buying stocks that are going to do better if the economy opens, explained Cramer. It seems the market thinks these stay-at-home stocks have reached their peak, but Cramer is not so sure.
Cramer wouldn't sell Boston Scientific Corporation (NYSE: BSX) because it is one of the best medical device companies out there. He prefers Medtronic PLC (NYSE: MDT).
Datadog Inc (NASDAQ: DDOG) is a high-multiple stock and it's due to a little bit of a hit, said Cramer. He would wait for a pullback.
© 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
It's a shame that Scott Gottlieb loves his family and wanted to be with them for he was going to be a good Commissioner, IMO.
Beyond Meat Is Entering Brazil. The Stock Typically Reacts Well to Such News. -- Barrons.com
1:30 pm ET July 15, 2020 (Dow Jones) Print
By Al Root
Beyond Meat is expanding its geographic borders again. The company announced a new partnership on Wednesday to bring its alternative-protein products into Brazil.
Beyond Meat (ticker: BYND) products will start off in 19 St. Marche locations across São Paulo. St. Marche is owned by private-equity firm L Catterton.
"Our Brazil market entry marks an important step in furthering our mission of increasing accessibility to plant-based meat globally," Ethan Brown, Beyond Meat's founder and CEO, said in the company's news release.
Beyond Meat's stock typically responds positively to new distribution news. The announcement was made about 1:30 p.m. Eastern time. The stock was up about 1.6% before the announcement. Earlier this month, Beyond Meat stock jumped 5.7% after the company announced a partnership with a Chinese food retailer.
Brazil is as big a deal a China. There aren't as many people there, of course, but the South American country is a huge producer of agricultural products and animal-based protein. The U.S. and Brazil are the world's dominant exporters of calories.
Brazil produces more than 13 million metric tons of Chicken annually, about 15% of the global total. The U.S., for comparison, produces about 20 million tons a year.
What's more, Brazil produces almost 11 million metric tons of beef and 44 million pigs a year, according to the U.S. Department of Agriculture. Pork is reported by head and not by metric tons. Those figures compare with 12 million tons of beef and 141 million head of pork produced in the U.S.
All that livestock consumes a lot of agricultural produce. That's the idea behind Beyond Meat, producing protein for human consumption while cutting out the animal "factory."
Beyond Meat stock is up about 70% year to date, far better than comparable returns of the Dow Jones Industrial Average and S&P 500 and food peers in the S&P.
The stock has been volatile, though. Shares have ranged from about $50 a share to $240. The $190 spread is almost 150% of the current stock price.
Barron's panned Beyond Meat stock more than a year ago, when shares were roughly $100. They closed at $75.60 at the end of 2019, but business execution continues to be solid and shares have risen as product distribution has expanded.
We also struggled with valuation. Wall Street appears to be in the same boat. Only three out of 21 analysts covering the company rate shares Buy. The average Buy-rating ratio for stocks in the Dow is about 55%. What's more, the average analyst price target for Beyond stock is about $103, below where the stock is trading.
As of March 28, Beyond Meat said its products were available in about 94,000 retail and food-service outlets in 75 countries.
Write to Al Root at allen.root@dowjones.com
(END) Dow Jones Newswires
Well, I would call pricing a secondary at 19 bucks when we were trading at 24+ and climbing pretty unexpected, if I recall, so did you at the time.
Understood, that's part of the equation is currently in the FDA's hands, yes, it effects your kidneys, but Voclosporino is a new treatment for lupus, which is sorely needed, the DES half of AUPH, is just gravy.
As for a number of DES drugs that have failed, I'm not so sure of that, the company that got Xiidra approved, was bought out by Shire and it was for BILLIONS, I didn't know a thing about it. I only looked it up when the drug was prescribed for me, I certainly questioned why in hell it cost so damn much. With that said, had Xiidra worked for me, I'd be still paying for it. I found AUPH while looking for other DES drugs in FDA trails. Unless you suffer from DES, you have zero clue how debilitating it is.
As for the Lupus part of this company, although my wife is a Neonatologist, she knows understands that lupus is serious business, we are not talking about quality of life, we are talking about life itself. It was her advise that has me in this stock.
I'll ask again, what did your first comment mean? What's not to like about this stock? There are two binary events coming in 2020, damn, you lived through AMRN's issues, I think AUPH is a walk in the park compared to the nonsense we've dealt with and are still dealing with, yes I'm talking about Thero and his den of thieves.
I do not understanding your reply, AUPH might be dead money until the FDA gets around to the adcom, but we've been there.
I'm looking at AURH's other binary event of the year, DES report. Vascepa did nothing for my dry eyes, I've paid (80% out of pocket) for Xiidra $600.00 eye drops that also didn't help. IMO, if your duping AUPH, you don't know anyone that really suffers from DES.
Furthermore, this is my first year being eligible for Medicare, or I'm not all that old to have my eyes failing me.
I honestly haven't observed that, but as you said, today's up close is half of your daily normal volume.
Clearly, something is up with BYND, for that news about China today should have attracted a lot more buyers, IMO.
Had the whole market been down, well then that would have made sense to me. I personally believe this market is up only because the government is giving away (my) money (I mailed my tax payment today) it's going to be a wait and see what the Senate does about that additional $600 prior to the July 31 expiration date, then will Trump veto it in an election year? Personally, I doubt that he will.
JK, I like that you're sharing your numbers, but IMO, if this free money stops, we'll make mince meat of your downside numbers.
What's your opinion about the lack of volume?
I'm betting that Bio Researcher found your answer funny, I know he's involved in another stock that the FDA played with like it was the cat while the poor company was the mouse.
Warp Speed, ha
IMO, that's just talk even for the virus folks.
All that said, I'm long AUPH. I just know that the FDA are a bunch of crooks, as are the MM for this stock. They bring it down every third Friday of the month.
While I don't agree with you that INSG is a POS, I didi sell calls yesterday for I did not believe we'd hold over 12.62, that's the conversion price of the bonds recently sold.
IMO, we need to really blow that number out of the water, then we'll be onto real money. I'm hoping this quarter's earning report does just that.
Porter, are you going to buy back in? Or do you really believe this is a POS? I understand it's tough to watch us go sideways while other 5G's are flying high, but I'm a believer. No matter, it's your money, GL
JK, I can see why that dude wanted your Twitter account name, you were spot on with this call.
With today's China news, two weeks ago, we'd be up a "bunch"
Do you think we have to test the lows made in May?
Beyond Meat To Begin Sales At Metro China Locations In Shanghai Starting July 15 -- MarketWatch
7:57 am ET July 14, 2020 (MarketWatch)
Share
Print
Beyond Meat Inc. (BYND) products will be sold at select Metro China locations in Shanghai starting July 15, Metro China announced Tuesday. Metro China is a grocer with 97 locations in 60 Chinese cities. Beyond Meat has been expanding its presence in China, announcing a partnership with Alibaba Group Holding Ltd. (9988.HK) in the past couple of weeks (http://www.marketwatch.com/story/beyond-meat-partners-with-alibaba-for-new-china-push-2020-06-30). The company also has partnerships with Starbucks Corp. (SBUX) and Yum Brands Inc. (YUM) chains, which include KFC, Pizza Hut and Taco Bell. Beyond Meat stock rose 1.6% in Tuesday premarket trading, and has rallied 66.6% for the year to date. The S&P 500 index is down 2.3% for 2020 so far.
-Tonya Garcia
Hayward, I was looking why we didn't get the 8-K while you were also wondering. IMO, the results of the voting will tell us what the BB Boys are thinking about Marble Mouth. If management gets their monthly options, they do with the BB blessings.
Companies are required to disclose preliminary vote results within four business days of the completion of the shareholder meeting and final voting results within four business days after those results are known on a Current Report on Form 8-K.
https://www.sec.gov/rules/final/2011/33-9178-secg.htm
It will only be interesting to see if shareholders voted against the $95.15 million worth of stock options, restricted stock units and certain limited unrestricted share awards; for that will let us lowly, uninformed, small shareholders know how the BB Boys voted. IMO
Damn, you're an easy grader. Smart money bought into that Secondary, then they lost money..........that's an F
Poor old shareholders where finally watching our share price go up, then we heard about this poorly under priced secondary, then got to watch a 50% decline in our holdings! That there is another Fat F
If the board fired Thero this weekend, we'd gap up Monday and never look back at 7
I don't believe I'm as careful as you, but I am careful. I'm not on margin, plus if caught with my pants down, I can go long with money in this account until death. I'm basically playing with my kid's money.
However, I'm not foolish, when we popped up over 136 yesterday, I closed both put positions for a realized gain of a tab more than 500 and with the calls I had sold on BYND, I did ok for the week.
I own a hundred shares that I'm not going to do anything with, I only own three hundred more and it they are called, so be it. I'll pay the tax man, Lord knows that they'll need it.
As for your view of the overall market, it's crazy, I don't care if you use MACD, RSI or plan common sense, we don't belong way up here, but we are. That JK, makes a market. Good Luck and stay safe.
I can't remember who told me to buy INSG's little brother, Sequans (SQNS) but thanks, while INSG can't get out of it's own way, SQNS is bullying anyone in it's way.
Damn sure wish I had bought more, perhaps I'll blame whomever told me to buy a little, it was that unknown person's fault. My joke of the day!
As for INSG, I strongly believe we'll have our day. It's just no one knows about us, but we have a strong management team. Lets see what they have to say come earnings on August 10th. Until then, I believe we're seeing what happens when you sell convertible bonds, it allows covered shorting. JMO
Sell Beyond Meat Because a Great Business Doesn't Equal a Great Stock -- Barrons.com
9:19 am ET July 10, 2020 (Dow Jones) Print
By Al Root
Citigroup is urging investors to "look beyond the headlines" and sell Beyond Meat stock.
Analyst Wendy Nicholson launched coverage of the alternative-protein startup Friday with a Sell rating and $123 price target. She calls the story exciting, but expects "near-term pressure as a result of its exposure to the food service segment" and "longer-term pressure as the [alternative meat] category becomes more competitive."
Her argument appears to be a case of not every great business is a great stock.
And, make no mistake, business has been great lately. Beyond (ticker: BYND) has crushed sales expectations over the past year. And Beyond management recently announced new partnerships, putting the company's products into both retail and restaurants overseas.
Nicholson acknowledges that Beyond's growth has been stunning, but notes several risks, too. Alternative meat, she notes, could be a fad. Even if faux-meat has staying power, there is new competition from everyone, ranging from privately held Impossible Foods to non-alternative-protein company Tyson Foods (TSN) to packaged-food giants such as Kellogg (K).
Beyond also does a lot of business in restaurants. It is rapidly shifting sales to retail as restaurants run at reduced capacity because of Covid-19. Beyond's first-quarter sales weren't an issue, but given the stock's high valuation multiples, any distribution hiccup could be a risk for investors.
Beyond trades for about 12 times estimated 2021 sales, far higher than other food peers.
The risks she cites, however, have been there for a while. And it appears investors are more into the excitement and less so the risks. Beyond stock, after all, is on a tear, up 87% year to date. The gains have been driven by headlines -- such as the new Starbucks (SBUX) partnership -- but headlines are also driving real business gains. Expansion into China, for instance, is propelling sales estimates higher.
Over the past three months, 2021 sales estimate have gone to $720 million from roughly $620 million. Even pandemic-affected 2020 sales estimates have risen over the same span. Beyond stock has gained almost 100% in that time.
Despite, or perhaps because of, the incredible stock gains, Beyond is a relatively controversial stock on Wall Street. Only three out of 20 rate the stock Buy. The average Buy-rating ratio for stocks in the Dow Jones Industrial Average is about 55%.
Analysts also appear to struggle with valuation: The average analyst price target is about $100 a share, about 28% below recent levels. Price targets for Beyond from large brokers range from roughly $44 to $180. The $136 bull-bear spread is almost 100% of the current stock price. That spread is about twice as wide compared with stocks in the Dow.
Barron's also panned Beyond shares in May 2019. It's an older call, and did work out through year-end 2019. When we made our call, the stock was about $100, and it closed the year at $75.60.
Back then, valuation was our problem too -- not business execution, which has been excellent. The bearish call, obviously, hasn't worked out this year.
Beyond stock was down about 2% in recent premarket trading to $138.48. S&P 500 futures were off 0.4%.
Write to Al Root at allen.root@dowjones.com
(END) Dow Jones Newswires
July 10, 2020 09:19 ET (13:19 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
Damn, I sold time and only got peanuts:
07/02/2020 12:40:35 Sold 1 BYND Jul 10 2020 135.0 Put @ 2.67
I think Citi is crazy, so I sold another 135 put and got more money then the one I sold last week. Perhaps, I'll own another two hundred shares.
I look at charts, I listen to my gut. My gut tells me that there's a lot of young people that aren't going to be eating rotting meat in the fridge, "so Mommy, if you want me to not complain, stop buying that dead cow!"
https://www.stockscores.com/charts/charts/?ticker=bynd
Smart idea, most likely, I'll get those 135 shares put to me today.
Beyond Meat Initiated at Sell by Citigroup
6:22 am ET July 10, 2020 (Dow Jones) Print
Beyond Meat shares are trading lower after Citigroup initiated coverage on the company's stock with a Sell rating and announced a $123 price target.
Jul 10, 2020 7:24a ET
Is that joint really really kid (family) friendly? My sister use to live in Texas, I remember going to a place where 3-5 year olders were allowed to just "go play" which was fine at the time, I believe it was my brother-in-law's treat.
It's the younger generation that's the driving force behind all these faux meats. IMO
Did you get back in BYND today on the drop? I couldn't help myself, but only a little. I'm also short puts at 135, I've also sold calls at 165, 162, 160 and today at 148. Nothing big, overall I agree with you, I can't really figure out why the DOW is so high. I personally am taking this virus very seriously. I live outside of NYC, my wife is in medicine, she predicted this spread, prior to the nuts that thought it's more important to demonstrate then stay alive.
Perhaps they are right, people certainly die in wars to make change, or to stop it. It's God's job to judge, not mine.
There are no Del Tacoās around where I live, but I looked. Nice post.
It's always a good sign when a reporter suggests that soon Wall Street has to get on the stick and start rising sales estimates. IMO, China is going to address it's "Wet Markets" so the time is ripe for Beyond in China. Personally, I can't wait for earnings, July 27th.
Beyond Meat Is Soaring Because China's Retail Market Is a Big Deal -- Barrons.com
9:41 am ET July 1, 2020 (Dow Jones) Print
By Al Root
Stock in Beyond Meat is jumping after the company said its faux-meat products would be available at retail outlets in China. It is big news that helps answer one of Wall Street's lingering concerns about the highflying startup.
Beyond Meat (ticker: BYND) products have done better in restaurant settings early in its history as a publicly traded company. Beyond products are a little more expensive, at this point, than animal-based protein. That can be a problem for shoppers, but restaurants don't mind because Beyond products drive traffic and provide meat-like offerings for vegetarian and vegan customers.
Analysts have said they wondered if higher prices would stymie retail adoption of the products. The debate about restaurant versus retail sales has raged for a while.
Barclays analyst Benjamin Theurer, long a bull on the stock, changed his opinion this week, downgrading Beyond stock from the equivalent of Buy to Sell, bypassing a Hold rating on Monday. He cited concern about the company's reliance on distribution via restaurants, or food-service channels, fearing sales growth would slow due to Covid-19.
In April, as the pandemic gained steam in American, Oppenheimer analyst Rupesh Parikh cut his food-service sales forecast for Beyond from 95% growth in 2020 to a decrease of 5% year over year -- a swing of 100 percentage points. Although Parikh increased his 2020 retail-sales growth estimate to 59% from 44%, his estimate of total sales for this year fell from $508 million to $376 million.
Beyond management, of course, didn't take the challenge to restaurant sales lying down. In the first quarter, amid the pandemic, restaurant sales dropped from about $58 million in the fourth quarter of 2019 to about $23 million. Retail sales, however, picked up the slack, rising 157% year over year, hitting almost $50 million. Shares jumped 26% on the news.
The company has been offering new value packaging, with more product at a lower per-unit price point, to further boost sales.
Beyond Meat expanded overseas starting at restaurants such as Starbucks (SBUX) and KFC. The retail expansion is a signal to investors that consumers in other countries are interested in taking products home.
The end result will likely be rising sales estimates by Wall Street analysts. That is good for any stock, including Beyond. It remains to be seen if analysts will be more bullish about the stock after the announcement. No new analyst notes were out yet as of Wednesday morning.
Wall Street is still hesitant to recommend the shares. Only three analysts rate the stock at Buy, while 17 have ratings of either Hold or Sell. The 15% Buy-rating ratio is far below the average of 55% for stocks in the Dow Jones Industrial Average.
Valuation appears to be the primary reason for the large percentage of pans. The average price target among analysts is about $100 a share, almost 30% below recent trading levels.
Barron's also struggles with Beyond's valuation, although we acknowledge management's ability to follow through on its plans. Still, we panned the stock in May 2019, more than a year ago now.
Since that article appeared, with the stock price at roughly $100, Barron's has looked both smart and stupid. Shares have been volatile, ranging from about $50 to $240.
Beyond stock was up almost 10% in premarket trading to $146.50 a share. S&P 500 futures were down 0.5%.
Year to date, Beyond stock was up about 77% as of Tuesday's closing price. The premarket gains put Beyond stock back, very roughly, to where it was before the Barclays downgrade.
Write to Al Root at allen.root@dowjones.com
(END) Dow Jones Newswires
UPDATE: Beyond Meat partners with Alibaba for new China push
6:12 am ET July 1, 2020 (MarketWatch)
Share
Print
By Emily Bary
Partnership follows Beyond Meat's other China deals with Starbucks, Yum Brands
Beyond Meat Inc. is making its retail-store debut in China through a partnership with Alibaba Group Holding Ltd.
The maker of plant-based meat announced late Tuesday that it plans to make its Beyond Burger available in 50 Freshippo stores in Shanghai starting this weekend. Freshippo stores are Alibaba's (9988.HK) futuristic supermarkets that aim to better merge the physical and digital shopping experiences.
Beyond Meat (BYND) intends to expand the partnership as the year goes on, bringing the Beyond Burger to 48 more Freshippo locations in Beijing and Hangzhou. The product will be available on Freshippo's app as well so that customer can arrange for on-demand delivery.
The move is Beyond Meat's latest in China, following recent partnerships (http://www.marketwatch.com/story/kfc-to-test-plant-based-chicken-nuggets-in-china-2020-04-27) with Starbucks Inc. (SBUX) as well as Yum Brands Inc. (YUM) chains KFC, Pizza Hut and Taco Bell. The company also has an agreement with Sinodis, a food distributor.
Read: Starbucks teams with Beyond Meat and others to launch plant-based menu in China (http://www.marketwatch.com/story/starbucks-teams-with-beyond-meat-and-others-to-launch-plant-based-menu-in-china-2020-04-20)
"We know that retail will be a critical part of our success in China, and we're pleased to mark this early milestone within a few months of our market entry," Beyond Meat Chief Executive Ethan Brown said in a release. He said that retail stores mark the "natural next step in building our market presence" as they introduce the Beyond Burger to "home cooks throughout China."
A Freshippo executive hinted at a further expansion of the partnership down the line. "We have seen a growing interest in plant-based meat among our shoppers and look forward to offering more Beyond Meat products in the future," said Freshippo merchandising chief Jiayu Zhao, in a statement.
BTIG analyst Peter Saleh had expressed optimism about Beyond Meat's potential in China prior to the latest announcement. "We believe China will be a strategic growth market for Beyond Meat for many years to come," Saleh wrote in a June 8 note as he cheered "the sales potential from future partnerships around the globe."
Don't miss: Impossible Foods, Beyond Meat see spike in demand as coronavirus wreaks havoc on meat supply (http://www.marketwatch.com/story/impossible-foods-beyond-meat-see-spike-in-demand-as-coronavirus-wreaks-havoc-on-meat-supply-2020-05-05)
Beyond Meat shares have doubled over the past three months as Alibaba shares have added 13%. The S&P 500 is up 18% in that span.
-Emily Bary; 415-439-6400; AskNewswires@dowjones.com
(END) Dow Jones Newswires
July 01, 2020 06:12 ET (10:12 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
Impossible Foods Keeps the Heat on Beyond Meat -- Barrons.com
2:52 pm ET June 29, 2020 (Dow Jones) Print
By Al Root
Beyond Meat's rival Impossible Foods is launching its faux-sausage product at Burger King -- a signal to investors that interest in alternative protein remains high and that competition within the burgeoning industry remains strong.
Burger King, owned by Restaurant Brands International (ticker: QSR), sells the Impossible Whopper and will sell Impossible Sausage too. The Impossible Sausage will be available in Starbucks (SBUX) stores, as well as the top 30 diners in America, as rated by Yelp.
Beyond (BYND) stock was down more than 10% before the announcement after Barclay's analyst Benjamin Theurer, a longtime bull, cut his rating all the way from the equivalent of Buy to Sell. In midafternoon, it was down 8% at $130.38.
Theurer doesn't believe some of the coronavirus-induced business headwinds related to restaurant closures are adequately reflected in the stock price. About half of Beyond Meat's sales come in the food-service distribution channel and many restaurants, of course, have seen business crimped by the pandemic.
The news about additional competition isn't hurting as much as the downgrade and it shouldn't. The alternative-meat industry is growing rapidly, so there will be space for a few winners over time.
"Raising animals for food makes up the vast majority of the land footprint of humanity," points out the Impossible news release. "All the buildings, roads and paved surfaces in the world occupy less than 2% of Earth's land surface, while more than 45% of the land surface of Earth is currently in use as land for grazing or growing feed crops for livestock."
That's one reason Impossible believes growth will continue rapidly. They believe vegetable-based protein is more sustainable because the less meat people eat, the fewer animals are needed to feed them.
Yet Wall Street still has questions. With Theurer's new Sell rating, only three analysts rate Beyond shares at Buy, while 17 have ratings of either Hold or Sell. The 15% Buy-rating ratio is far below the average of 55% for stocks in the Dow Jones Industrial Average.
Valuation appears to be the primary reason for the large percentage of pans. The average price target among analysts is about $100 a share, almost 30% below recent trading levels.
Barron's also struggles with Beyond's valuation. We panned the stock in May 2019, believing the price was too rich, while acknowledging the company's ability to follow through on its business plans. Currently, Beyond shares trade for about 13 times sales, above where other high-growth food companies have traded in the recent past.
Other food stocks in the S&P 500 trade for a little more than two times sales on average. Those companies, of course, grow much slower than Beyond.
Since the 2019 article appeared, with the stock price at roughly $100, Barron's has looked both smart and stupid. Shares have ranged from about $50 to $240. As of the close of trading on Friday, Beyond stock was up about 87% year to date.
Write to Al Root at allen.root@dowjones.com
(END) Dow Jones Newswires
Beyond Meat Stock Gets a Double Downgrade, to Sell -- Barrons.com
9:02 am ET June 29, 2020 (Dow Jones) Print
By Al Root
A longtime bull on Beyond Meat stock slashed his rating from the equivalent of Buy to Sell, skipping Hold and joining the majority of Wall Street analysts who are lukewarm or cold toward the faux-meat startup.
Analysts don't often double-downgrade stocks. Usually, stocks get downgraded one notch at a time, which makes Monday's ratings change, by Barclays analyst Benjamin Theurer, particularly noteworthy. Theurer has had a Buy rating on the shares since he launched coverage in September 2019.
The analyst did raise his price target for the stock.
Theurer, according to reports, doesn't believe some of the coronavirus-induced business headwinds related to restaurant closures are adequately reflected in the stock price. About half of Beyond Meat's (ticker: BYND) sales come in the food-service distribution channel. About 80% of overseas sales are generated away from home -- at restaurants -- according to the analyst.
Beyond Meat didn't immediately respond to a request for comment early on Monday.
Restaurant sales, of course, have been crimped by Covid-19. But Beyond Meat has been shifting volume to retail, offering new value-style packaging, Still, it isn't enough for Theurer to keep recommending the stock.
Theurer's original target for the stock price was $185, back when shares were at about $155. Beyond Meat shares have had a wild ride since then going from, very roughly, $160 a share, down to $55 and back to today's level of $141.68.
As time wore on, his price target came down to $100 a share. Monday, he raised it to $115, about 19% below recent levels.
Overall, Wall Street isn't sure about Beyond stock. Only three analysts rate shares at Buy, while 17 have ratings of either Hold or Sell. The 15% Buy-rating ratio is far below the average of 55% for stocks in the Dow Jones Industrial Average.
Valuation appears to be the primary reason for the large percentage of pans. The average price target among analysts is about $100 a share, almost 30% below recent trading levels.
Barron's also struggles with Beyond's valuation. We panned the stock in May 2019, believing the price was too rich, while acknowledging the company's solid business execution. Currently, Beyond shares trade for about 13 times sales, above where other high-growth food companies have traded in the recent past.
Food peers in the S&P 500 trade for a little more than 2 times sales on average. Those firms, of course, grow much slower than Beyond.
Since that article appeared, with the stock price at roughly $100, Barron's has looked both smart and stupid. Shares have been volatile, ranging from about $50 to $240.
Beyond stock was down about 2.8% to $137.78 in premarket trading. Dow futures were up 0.6% and futures on the S&P 500 had gained 0.3%.
Year to date, Beyond stock was up about 87% as of Friday's closing price.
Write to Al Root at allen.root@dowjones.com
(END) Dow Jones Newswires
I agree, horrible form. Further agree that his death will not come into play.
Here's the short version:
Lane Christopher Martin passed away on July 30, 2019. Lane was born in Lancaster, California on July 31, 1987 but lived most of his life in Reno, Nevada, and most recently in Portland, Oregon.
Lane Martin was Judge Du's step son. full obit
https://www.legacy.com/obituaries/rgj/obituary.aspx?n=lane-christopher-martin&pid=193598390
Take about a nothing burger.
Beyond Meat (BYND) shares fell as much 7% on Thursday following a report from CBC that McDonaldās (MCD) ended a test of a Beyond based sandwich in Canada in April. The zany thing is that there is no fresh news here so a rebound in Beyondās stock could be in the making.
āWe feel very good about our relationship with McDonald's. The test had a start and an end as planned, and discussed during our most recent earnings call. This is not new information,ā Beyond Meat founder Ethan Brown exclusively told Yahoo Finance via email. Beyond Meat shares began to recover following Brownās comments.
Indeed Brownās statement mirrors comments he said on the companyās early May earnings call.
āI mean that is ā the test was for that period and it did conclude ā for no negative reason at all,ā Brown told analysts when asked about the test with McDonaldās.
In September, McDonaldās debuted the P.L.T. burger in southwestern Ontario. The sandwich was clearly labeled for a 12-week test ā in other words it had a defined end date around April.
A source familiar with the matter tells Yahoo Finance, McDonaldās continues to evaluate the learnings from the test of the P.L.T.
FILE - In this June 26, 2019, file photo, a package of meatless burgers are seen in Orlando, Fla. In a very limited test in Canada, McDonald's said Thursday, Sept. 26, that it's introducing the PLT, or the plant, lettuce and tomato burger. It will be available for 12 weeks in 28 restaurants in Southwestern Ontario by the end of the month. (AP Photo/John Raoux, File)
FILE - In this June 26, 2019, file photo, a package of meatless burgers are seen in Orlando, Fla. In a very limited test in Canada, McDonald's said Thursday, Sept. 26, that it's introducing the PLT, or the plant, lettuce and tomato burger. It will be available for 12 weeks in 28 restaurants in Southwestern Ontario by the end of the month. (AP Photo/John Raoux, File)
McDonaldās was also quick to refute any beef with Beyond.
āThere has been no change in the relationship between McDonaldās and Beyond Meat. Weāre evaluating learnings from our recent test to inform future menu options. As we look ahead, we will plan to bring plant-based options to the menu at the right time for customers in individual markets,ā a McDonaldās spokesperson told Yahoo Finance.
https://finance.yahoo.com/news/beyond-meat-founder-we-feel-very-good-about-our-relationship-with-mc-donalds-185735004.html
I listened to MCD's earnings call, franchises are not happy with headquarters. They want a better chicken sandwich and a PLT to go against the Impossible Burger.
IMO, the cow is the new coal, MCD is going to have to do something, just exactly what or when is the money question.
Thanks for your numbers, I got my traders out at 147, back in at 141.81 then again at 137.68 and again at 136.37. sold all traders when we went back to 147. I owe you a beer to go with your burger.
Nice Call, thanks
Porter, I think the real number to get by is the conversion number, 12.62 (from memory) I believe the dude shorted when INSG did that deal, that's the normal route.
While, I'm not crazy about the wack we took, I think once we get by my number, revenues (and earnings) report will blow us past our old print high.
This is a Buffett like stock, you buy it and hold it, let good management do their thing. IMO
McDonald's ends Beyond Meat burger trial in Canada with no set plans for a veggie option
Sophia Harris
7 hrs ago
a man standing in front of a building: Beyond Meat CEO Ethan Brown said in May that the P.L.T. burger trial © Brendan McDermid/Reuters Beyond Meat CEO Ethan Brown said in May that the P.L.T. burger trial McDonald's' six-month trial run of a vegetarian burger ā which began with much fanfare ā has ended quietly with no current plans to add it to the menu.
Between Sept. 30 last year and April 6, McDonald's launched two consecutive trials of the burger ā made with a Beyond Meat patty ā at dozens of its restaurants in southwestern Ontario.
The fast food chain dubbed the burger the P.L.T. (plant, lettuce, tomato) and said it was being tested in Canada for restaurants across the globe.
The chain publicly promoted the trial, which garnered international headlines due to its partnering with popular faux meat maker Beyond Meat to create the sandwich.
Say Goodbye To Your Mortgage If You Have No Missed Payments (You Must Qualify)
See More
Ad by Comparisons.org
McDonald's made no public announcements when the P.L.T. trial ended in April. It also removed information about the burger from its website with no explanation.
McDonald's told CBC News it has no updates on the P.L.T.'s fate. Currently, the company is "evaluating learnings" from the trial "to help inform future plant-based menu decisions," McDonald's Canada spokesperson Veronica Bart told CBC News in an email.
Jenna Walker-Cronk is a vegan who lives in London, Ont., one of the burger's test locations. She was a fan of the P.L.T. when it was available and was taken aback when it suddenly disappeared.
"I was really upset because it's the only thing on the menu that I could eat," said Walker-Cronk, who worries the P.L.T. may be gone for good.
"I don't know how long it takes to get a product out, but I feel like, at this point, I'm not keeping my hopes up."
Beyond Meat responds
When asked about the McDonald's P.L.T. trial, California-based Beyond Meat offered a brief reply.
"We can only comment generally and share that we were pleased with the test," said spokesperson Shira Zackai in an email on Monday.
But in a May 5 conference call with financial analysts following the release of Beyond Meat's latest financial report, J.P. Morgan analyst Ken Goldman inquired why the P.L.T. test had ended.
"If a test did well, the retailer wouldn't end it. They would expand it," he said.
Beyond Meat CEO Ethan Brown responded on the call that nothing was amiss.
"I can assure you, there's no issue with McDonald's," he said. "There's been no change in information since we began this test and got good results in the beginning and got good results at the end."
Toronto-based retail consultant Bruce Winder suggests McDonald's may take a while to figure out its veggie burger plans due to the COVID-19 pandemic, which has caused restaurant sales to plummet.
"It's pretty hard to sort of make a decision on rolling out a product across the world, or even across America, when you're in the middle of a crisis," said Winder, author of the newly published book Retail Before, During & After COVID-19.
Veggie burger pressure
McDonald's previously introduced a vegetarian burger, the McVeggie Deluxe, in 2002 in Canada, but pulled it three years later due to weak sales. Last year, competitors Burger King and A&W each launched a plant-based burger that remains on their menus.
On April 30, McDonald's CEO Chris Kempczinski told CNBC in an interview that a veggie burger will eventually be a menu staple and that decisions will be made on a country-by-country basis.
"When we bring plant-based on the menu, we need to be confident that there's a sufficient level of demand that really will allow it to stick on the menu," he said.
McDonald's already offers a vegetarian burger in some countries, including Finland, Sweden, India, South Africa and Australia.
Food distribution and policy expert Sylvain Charlebois said burger joints need to add a vegetarian option to their menu or risk alienating the growing number of customers who want plant-based alternatives.
"It's about recognizing that food demand is more fragmented. It needs to portray that through its menu," said Charlebois, a professor at Dalhousie University.
Walker-Cronk agrees. "It feels like [McDonald's is] behind everyone," she said. "There's basically nothing else that I can eat there except for the french fries."
Last year, Tim Hortons launched a line of Beyond Meat vegetarian burgers and breakfast sandwiches but then pulled the items due to low demand.
Charlebois said Tim Hortons' plant-based offerings were destined to fail because customers don't frequent the coffee and doughnut chain for burgers ā vegetarian or otherwise.
"Proteins were never their game," said Charlebois. "I never understood the Beyond Meat play at Tim Hortons."
As far as Beyond Meat's partnership with McDonald's, Charlebois said it's hard to tell at this moment what happens next.
"[Either] their courting is over, or they're planning the wedding."
'McDonald's ends Beyond Meat burger trial in Canada with no set plans for a vegetarian option' -CBC Report
9:43 am ET June 25, 2020 (Benzinga) Print
https://www.cbc.ca/news/business/mcdonald-s-beyond-meat-veggie-burger-trial-p-l-t-1.5625342
© 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reser
Beyond Meat 'Is in the Early Innings of Expansion Across Quick-Service' -- Barrons.com
6:29 am ET June 25, 2020 (Dow Jones) Print
By Teresa Rivas
During the strictest period of stay-at-home orders, some of my favorite restaurants closed. As a longtime vegetarian with little else to occupy my time, I drove to a fast-food chain I hadn't visited in more than a decade to check out its latest faux meat sandwich. And I'm not alone.
As BTIG analyst Peter Saleh writes, offerings from Beyond Meat (ticker: BYND) and privately held Impossible Foods are "driving new customers to quick-service" restaurants. That led him to reiterate a Buy rating and $123 price target on Beyond Meat, as "plant-based meat is in the early innings of expansion across quick-service."
The world's appetite for meat is expanding and there are few indulgences that Americans love more than a cheeseburger. At the same time, there are plenty of catalysts for the faux-meat market. Consumers are more health conscious than ever amid the Covid-19 pandemic, which has also given rise to meat shortages. And meat alternatives continue to sign up high-profile partners, including Starbucks (SBUX) and Yum Brands (YUM), in the U.S. and abroad.
Saleh argues that alternative-meat offerings are attracting new and younger consumers to national chains such as Dunkin' Brands (DNKN), whose Beyond breakfast sandwich accounted for 7% of sales last year. Although that has trailed off a bit, because the product pairs well with the company's new espresso offerings, "the sales mix is more compelling than it would appear as it is a new, more desirable demographic."
He is also encouraged by the notion that the next step could be plant-based chicken, as "nobody has cracked the code on poultry alternatives." There is no doubt demand is high in that area, so a successful product could drive another leg of growth. Even without faux chicken, Saleh thinks there is reason for optimism for Beyond Meat.
Restaurants have been rebounding as stay-at-home orders ease, and many fast-food firms may be eager to keep attracting new customers late this year and beyond, after the initial wave of pent-up demand. Given the success that companies have seen with faux-meat products, that could translate into more orders for Beyond Meat.
The appeal of faux meat is helping digital sales as well. According to a survey of food-delivery apps by Edison Trends, online spending on all plant-based meat products jumped 91% between the weeks of March 2 and March 16. In the 11 weeks since March 23, spending on these products has remained 63% higher, on average, than it was during the previous 11 weeks.
Beyond Meat stock is up 100% this year, although it fell 0.9% to $151.38 on Wednesday, as the Dow Jones Industrial Average lost 2.7%.
Write to Teresa Rivas at teresa.rivas@barrons.com
(END) Dow Jones Newswires
June 25, 2020 06:29 ET (10:29 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
Good Call, when we saw your 147, I got out with a little hurt, I'll bet back in if we see your 141. Meanwhile, my other BYND shares are hurting badly. Not a lot of them, but enough to move the needle.
I've holding those as if I was Buffett.
Maybe it will today, Porter I think 13 is way to low, but it's a start.
Inseego Initiated at Buy by Stifel
6:38 am ET June 25, 2020 (Dow Jones) Print
Ratings actions from Benzinga: https://www.benzinga.com/stock/INSG/ratings
(END) Dow Jones Newswires
June 25, 2020 06:38 ET (10:38 GMT)
Inseego started at buy with $13 stock price target at Stifel Nicolaus
7:34 am ET June 25, 2020 (MarketWatch)
Share
Pri
STS, I haven't been following the board for various reasons, however I have seen mention about Du's son before, I can't find anything about him on google, do you happen to have a link? Thanks,
If this is old news, please send me a Private Post.
I was wrong, the didn't increase the dividend. Poo Hoo
June 24, 2020 at 6:15 PM EDT
Campbell Declares Quarterly Dividend
CAMDEN, N.J.--(BUSINESS WIRE)--Jun. 24, 2020-- The Board of Directors of Campbell Soup Company (NYSE:CPB) today declared a regular quarterly dividend on Campbellās capital stock of $0.35 per share. The quarterly dividend is payable Aug. 3, 2020 to shareholders of record at the close of business July 15, 2020.
About Campbell Soup Company
Campbell (NYSE:CPB) is driven and inspired by our purpose, "Real food that matters for life's moments." For generations, people have trusted Campbell to provide authentic, flavorful and affordable snacks, soups and simple meals, and beverages. Founded in 1869, Campbell has a heritage of giving back and acting as a good steward of the planet's natural resources. The company is a member of the Standard and Poor's 500 and the FTSE4Good Index. For more information, visit www.campbellsoupcompany.com or follow company news on Twitter via @CampbellSoupCo.
View source version on businesswire.com: https://www.businesswire.com/news/home/20200624005859/en/
Investor Contact:
Rebecca Gardy
(856) 342-6081
Rebecca_Gardy@campbells.com
Media Contact:
Thomas Hushen
(856) 342-5227
Thomas_Hushen@campbells.com
Source: Campbell Soup Compan
Yes Sir I did, she's the lady that wrote the last positive article that I had posted.
Sorry for the confusion.
JK, there's no volume, again, that's what makes a market. I bought traders today in the 150 range, I believe it wants to go higher, if the overall market goes much lower, I'm going to have to close this trade, today.
Then again, if McDonald's goes elsewhere, you'd be right to have waited. I guess that's what makes a market. Good Luck either way.
J-K, it's your money and your call, but, don't watch the train leave the station without you on her! We score McD, it's all over!
Plant-Based Meat Still Needs Price Parity -- Market Talk
12:14 pm ET June 24, 2020 (Dow Jones) Print
12:14 ET - Fast-food chains are luring new customers thanks to plant-based meat offerings, but the products' share of the restaurants' revenue remains small, BTIG says, after a call with a major operator of fast-food franchises. The brokerage firm predicts expansion will pick up as Beyond Meat burgers and sausages get closer in price to traditional beef. A recent rise in beef prices could help, as will projected gains in scale. BTIG adds that plant-based chicken products could arrive by year end and give a boost to sales. Beyond Meat slides 2%. (paulo.trevisani@wsj.com; @ptrevisani)
(END) Dow Jones Newswires
June 24, 2020 12:14 ET (16:14 GMT)