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Delayed Quote. Delayed Nasdaq - 05/07 04:00:00 pm
110.725 USD   -6.99%
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Beyond Meat : Tyson Foods, Beyond Meat face off with new plant-based burgers

05/03/2021 | 09:03am EDT
FILE PHOTO: Vegetarian sausages from Beyond Meat Inc, the vegan burger maker, are shown for sale at a market in Encinitas, California

CHICAGO (Reuters) - Tyson Foods Inc is launching plant-based hamburgers and sausages ahead of the summer grilling season, the company said on Monday, increasing competition for Beyond Meat as it releases an updated version of its own faux burger.

Purveyors of plant-based meat are seeking to boost sales as COVID-19 vaccinations encourage more people to eat at restaurants and gather for backyard cookouts and other events.

Companies like Beyond Meat and Impossible Foods aim to meet consumer demands for more climate-friendly diets, but sales of some of their products have slowed more recently as the plant-based trend cools.

Tyson Foods, the biggest U.S. producer of animal meat by sales, introduced its first plant-based products in 2019. It is adding burger patties, bratwurst, Italian sausage and ground "meat" made from pea protein to its offerings, according to a statement.

The burgers, marketed under Tyson's Raised & Rooted brand, will be sold in packages of two quarter-pound patties at a suggested retail price of $4.99.

Tyson is making another attempt at an alternative burger after phasing out a patty last year that was a blend of beef and plants.

Beyond Meat, meanwhile, is launching a new version of its plant-based Beyond Burger at grocery stores nationwide this week, it said in an April 27 statement.

Packages of two quarter-pound patties have a suggested retail price of $5.99, while new packs of four patties have a suggested price of $9.99, according to the company. A one-pound Beyond Beef pack will also be sold.

Beyond Meat already sells plant-based bratwurst and Italian sausage.

Its updated burger is juicier and "BBQ-ier" than a previous version and resembles the flavor of ground beef, according to the company. Each Beyond Burger patty has 20 grams of protein, compared to 21 grams per serving for Tyson's burger.

"Our products are plants made meatier," said David Ervin, vice president of marketing for Tyson's Raised & Rooted brand.

(Reporting by Tom Polansek; Editing by Aurora Ellis)

By Tom Polansek

© Reuters 2021
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Financials (USD)
Sales 2021 560 M - -
Net income 2021 -60,5 M - -
Net Debt 2021 59,6 M - -
P/E ratio 2021 -179x
Yield 2021 -
Capitalization 6 977 M 6 977 M -
EV / Sales 2021 12,6x
EV / Sales 2022 8,05x
Nbr of Employees 700
Free-Float 90,4%
Duration : Period :
Beyond Meat, Inc. Technical Analysis Chart | MarketScreener
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Technical analysis trends BEYOND MEAT, INC.
Short TermMid-TermLong Term
Income Statement Evolution
Mean consensus HOLD
Number of Analysts 21
Average target price 121,20 $
Last Close Price 110,73 $
Spread / Highest target 71,6%
Spread / Average Target 9,46%
Spread / Lowest Target -47,6%
EPS Revisions
Managers and Directors
Ethan Walden Brown President, Chief Executive Officer & Director
Gary A. Schultz Chief Financial Officer, VP & Controller
Seth Goldman Chairman
Sanjay C. Shah Chief Operating Officer
Raymond J. Lane Lead Independent Director
Sector and Competitors