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MarketScreener Homepage  >  Equities  >  Nasdaq  >  Beyond Meat, Inc.    BYND

BEYOND MEAT, INC.

(BYND)
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Tim Hortons pulls Beyond Meat products from Ontario, British Columbia

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01/28/2020 | 10:28pm EST
A Tim Hortons logo is pictured in Montreal, Quebec

Restaurant Brands International Inc's Tim Hortons said on Tuesday it has removed Beyond Meat Inc's products from its coffee and donut shops in the Canadian provinces of Ontario and British Columbia.

This comes after the coffee and breakfast chain cut Beyond Meat's burgers and sandwiches from its menu in September from all of Canada except the two provinces.

"We may offer plant-based alternatives again in the future, but we have removed it from the menu for now," said a spokeswoman for Tim Hortons.

The fast-food restaurant chain had introduced the plant-based protein as a limited time offer, the spokeswoman said, adding that: "the product was not embraced by our guests as we thought it would be."

Responding to the removal of its products, Beyond Meat said that it may work with Tim Hortons again in the future.

Tim Hortons said in July it was expanding plant-based meat additions in nearly 4,000 restaurants. There are about 4,800 Tim Hortons restaurants in North America.

Tim Hortons launched breakfast sandwiches with the plant-based sausage patty in June and the plant-based burger patty in July.

Plant-based fast food has gained popularity as diners become more conscious of how their food is sourced and its impact on the environment. The trend has given a big boost to Beyond Meat and Impossible Foods, two of the biggest players to launch faux meats.

(Reporting by Arunima Kumar in Bengaluru and Hilary Russ in New York; Editing by Subhranshu Sahu)

Stocks mentioned in the article
ChangeLast1st jan.
BEYOND MEAT, INC. -4.38% 120.58 Delayed Quote.59.50%
FEEDER CATTLE?FUTURES (GF) - CMG (ELECTRONIC)/C1 -0.02% 140.775 End-of-day quote.-3.13%
LIVE CATTLE (LE) - CMG (ELECTRONIC)/C1 0.06% 120.175 End-of-day quote.-2.73%
RESTAURANT BRANDS INTERNATIONAL INC. 0.59% 66.31 Delayed Quote.3.98%
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Financials (USD)
Sales 2019 283 M
EBIT 2019 3,28 M
Net income 2019 -10,7 M
Finance 2019 257 M
Yield 2019 -
P/E ratio 2019 -571x
P/E ratio 2020 298x
EV / Sales2019 25,3x
EV / Sales2020 14,4x
Capitalization 7 418 M
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Technical analysis trends BEYOND MEAT, INC.
Short TermMid-TermLong Term
TrendsNeutralNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 17
Average target price 106,80  $
Last Close Price 120,58  $
Spread / Highest target 53,4%
Spread / Average Target -11,4%
Spread / Lowest Target -58,5%
EPS Revisions
Managers
NameTitle
Ethan Walden Brown President, Chief Executive Officer & Director
Seth Goldman Executive Chairman
Sanjay Shah Chief Operating Officer
Mark Joseph Nelson Chief Financial Officer & Treasurer
Raymond J. Lane Independent Director
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