BYND stock rose more than 6% in after-hours trading on December 13, 2021, after Piper upgraded on McDonald’s McPlant launch.
Beyond Meat stock upgraded to Neutral at Piper on pending McDonald’s McPlant launch
Piper Sandler analyst Michael Lavery upgraded Beyond Meat BYND stock to Neutral from Underweight with a price target of $64, up from $61, as he raised his 2022 salesThe income statement provides a summary of a company's revenue and expenses over a specified period of time, typically a year or a quarter. It shows the company's total revenue, th... forecast to $600M from $565M and increased his 2023 sales estimate “more modestly” to $695M from $685M after his industry contacts indicated to him that a nationwide U.S. launch of McDonald’s (MCD) McPlant burger appears to be coming in late Q1 of 2022, which is earlier than he anticipated. The McPlant, supplied by Beyond, has been in test in eight U.S. stores and his contacts tell him that the McPlant will be available in about three months at all the nearly 14,000 U.S. McDonald’s locations, Lavery stated.
Beyond Meat Appoints Protein Industry Veterans to Top Executive Roles as the Company Accelerates its Global Growth Strategy
On December 8, 2021, Beyond Meat, Inc. (NASDAQ: BYND), a leader in plant-based meat, announced the appointment of two food industry veterans to its executive leadership team. Doug Ramsey joins as Chief Operating Officer following three decades at Tyson Foods where he oversaw the company’s poultry and McDonald’s businesses. Bernie Adcock joins in the newly created role of Chief Supply Chain Officer following more than three decades of experience in operations and supply chain management at Tyson Foods, and will report to Ramsey.
Ramsey and Adcock join as Beyond Meat, the #1 selling plant-based meat brand in the refrigerated category at retail and across total foodservice in the U.S.1, is aggressively scaling production and commercialization in the US, EU, and China. The pair will be instrumental in growing Beyond Meat’s operations, supply chain, and manufacturing, and driving efficiencies to unlock cost-savings as the Company pursues its long-term goal of price parity with animal protein. These hires come at a time of rapid innovation and commercialization for the Company, with more than a dozen new products introduced in just the last two years.
“After a long and careful search, I could not be more thrilled to announce the arrival of Doug Ramsey and Bernie Adcock at Beyond Meat. Doug and Bernie bring a proven track record of impressive operational excellence in the protein industry that our global partners, customers, and consumers expect and deserve,” said Ethan Brown, Founder and CEO, Beyond Meat. “As we’ve made clear, we are investing today in tomorrow’s growth, whether by adding to our best-in-class management team or by building out operations around the world, to advance our vision of being the global protein company of the future.”
Ramsey joins Beyond Meat as Chief Operating Officer after 30 years at Tyson Foods. He began at Tyson in 1992, eventually holding several top leadership positions, including Group President of Poultry. In this role, he oversaw all domestic poultry business units, driving market share through strategic integrated planning, business acquisitions and integration, lean manufacturing, and cost reduction. He also served as President of the Global McDonald’s Business, overseeing sales, operations, and marketing for one of Tyson’s key customers.
“Beyond Meat is the gold standard in the plant-based meat industry and I am proud to join in its mission to produce delicious products that are healthier for our customers and more sustainable for our planet,” said Ramsey. “I’m thrilled to be a part of a company that is constantly innovating and delivering high-quality products to some of the world’s most prominent foodservice and retail customers.”
Adcock joins Beyond Meat as Chief Supply Chain Officer after 31 years at Tyson Foods. He most recently served as Chief Supply Chain Officer, helping to scale the company’s poultry business through cross-functional strategic oversight and the integration of innovative technologies across the supply chain.
“I’m delighted to join Beyond Meat at a moment when the company is rapidly scaling for strategic partners, customers, and consumer demand in the US and globally,” said Adcock. “I am looking forward to supporting the Company’s planned growth through the expansion of supply chain capacity domestically and in high-potential markets like the EU and China.”
Beyond Meat continues to advance its mission of increasing accessibility to its plant-based meat products globally. In 2021 alone, Beyond Meat announced partnerships with some of the world’s top quick-serve restaurants, including McDonald’s and Yum! Brands, and established a joint venture with PepsiCo to develop, produce, and market innovative snack and beverage products made from plant-based protein. The appointments of Ramsey and Adcock are the latest examples of Beyond Meat’s commitment to operational excellence and scaling its business globally to make a positive impact on human health, climate, constraints on natural resources, and animal welfare.
📺 VIDEO 5 Reasons Beyond Meat Stock Will Dominate – Giant in the making…
Three months ago, Q’s Views Finance gave their opinion on BYND stock.
BYND Stock Technical Analysis
The short-term trend is negative, as is the long-term trend. BYND is part of the Food Products industry. There are 104 other stocks in this industry, of which 86% are performing better than BYND. BYND is currently making a new 52 week low. This is a very bad signal. Certainly, because the S&P500 Index is trading near new highs. There is a support zone ranging from 63.41 to 63.41. This zone is formed by a combination of multiple trend lines in multiple time frames. There is minor resistance at 70.33 from a trend line in the daily time frame. There is a major resistance zone ranging from 88.25 to 89.33. This zone is formed by a combination of multiple trend lines and important moving averages in the daily time frame. BYND has a poor technical rating and the quality of the setup is also not perfect at the moment. Price movement has been a little bit too volatile to find a nice entry and exit point. It is probably a good idea to wait for a consolidation first. Click here to sign up for email alerts on when BYND stock is a good buy.
