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BEYOND MEAT, INC.

(BYND)
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Plant-based protein to cannibalize meat demand, Cargill CEO says

06/04/2021 | 02:23pm EDT

June 4 (Reuters) - The plant-based protein industry will eat into consumer demand for meat as the rapidly growing sector expands, Cargill Inc Chief Executive Officer David MacLennan said on Friday.

"Our analysis is that in ... three to four years plant-based will be perhaps 10% of the market. We're a large beef producer and that is a big part of our portfolio. So there's some cannibalization that will occur," MacLennan said at a National Grain and Feed Association convention.

Privately held Cargill is a supplier of pea protein to meat alternative company Beyond Meat Inc through its joint venture with PURIS Foods. (Reporting by Karl Plume in Chicago; editing by Jonathan Oatis)


© Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
BEYOND MEAT, INC. -1.49% 122.82 Delayed Quote.-0.35%
FEEDER CATTLE?FUTURES (GF) - CMG (ELECTRONIC)/C1 0.02% 158.525 End-of-day quote.15.28%
LIVE CATTLE (LE) - CMG (ELECTRONIC)/C1 0.04% 122.55 End-of-day quote.8.96%
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Financials (USD)
Sales 2021 566 M - -
Net income 2021 -61,8 M - -
Net Debt 2021 91,4 M - -
P/E ratio 2021 -144x
Yield 2021 -
Capitalization 7 855 M 7 855 M -
EV / Sales 2021 14,0x
EV / Sales 2022 9,47x
Nbr of Employees 700
Free-Float 89,1%
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Technical analysis trends BEYOND MEAT, INC.
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Income Statement Evolution
Consensus
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Mean consensus HOLD
Number of Analysts 20
Last Close Price 124,56 $
Average target price 122,79 $
Spread / Average Target -1,42%
EPS Revisions
Managers and Directors
Ethan Walden Brown President, Chief Executive Officer & Director
Philip E Hardin Chief Financial Officer
Seth Goldman Chairman
Sanjay C. Shah Chief Operating Officer
Raymond J. Lane Lead Independent Director
Sector and Competitors