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

BEYOND MEAT, INC.

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Beyond Meat launches plant-based minced pork in China

11/17/2020 | 09:20pm EST
A woman sits next to a poster at the booth of plant-based food company Beyond Meat at VeggieWorld fair in Beijing

(Reuters) - Beyond Meat Inc on Tuesday launched plant-based minced pork in China, as the faux meat maker seeks to tap into the growing demand for its products in the lucrative Asian market.

The company said its latest product, Beyond Pork, will initially be available at five popular restaurants in Shanghai.

China, the world's top pork consumer, is increasing its focus on food security as the coronavirus outbreak has impacted the supply of meat from international companies.

Beyond Meat said in June it would begin retail sales of its plant-based burger patties in mainland China through Alibaba Group Holding Ltd's Freshippo markets.

Beyond Meat, whose shares have surged over 60% since their market debut a year ago, has emerged as a top supplier to fast-food chains rushing to get vegetarian products on their menus.

Rival Impossible Foods in October launched its plant-based beef burgers across grocery stores in Hong Kong and Singapore, and is awaiting approval for its products from Chinese regulators.

(Reporting by Mrinalika Roy in Bengaluru; Editing by Ramakrishnan M.)


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
ALIBABA GROUP HOLDING LIMITED 0.20% 243.46 Delayed Quote.4.61%
BEYOND MEAT, INC. -1.66% 140.1 Delayed Quote.12.08%
FEEDER CATTLE?FUTURES (GF) - CMG (ELECTRONIC)/C1 1.32% 134.35 End-of-day quote.-3.15%
LIVE CATTLE (LE) - CMG (ELECTRONIC)/C1 0.51% 112.65 End-of-day quote.-0.15%
All news about BEYOND MEAT, INC.
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01/14Zico Beverage Brand Founder Buys Company Back From Coca-Cola
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01/12Beyond Meat® Inspires Consumers to Kickstart the New Year With a Better-for-Y..
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01/06Impossible Foods cuts wholesale prices by 15% for second time in one year
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01/06Piper Sandler Downgrades Beyond Meat to Neutral From Overweight, Adjusts Pric..
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01/05China's Dicos adds plant-based egg from U.S. firm Eat Just to fast food menus
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More news
Financials (USD)
Sales 2020 411 M - -
Net income 2020 -28,4 M - -
Net cash 2020 172 M - -
P/E ratio 2020 -295x
Yield 2020 -
Capitalization 8 778 M 8 778 M -
EV / Sales 2020 20,9x
EV / Sales 2021 13,8x
Nbr of Employees 472
Free-Float 87,7%
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Technical analysis trends BEYOND MEAT, INC.
Short TermMid-TermLong Term
TrendsNeutralBearishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 22
Average target price 117,35 $
Last Close Price 140,10 $
Spread / Highest target 28,5%
Spread / Average Target -16,2%
Spread / Lowest Target -59,3%
EPS Revisions
Managers and Directors
NameTitle
Ethan Walden Brown President, Chief Executive Officer & Director
Seth Goldman Chairman
Sanjay C. Shah Chief Operating Officer
Mark Joseph Nelson Chief Financial Officer & Treasurer
Raymond J. Lane Lead Independent Director
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