BEYOND MEAT, INC.

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McDonald's expands U.S. test of Beyond Meat 'McPlant' burger

01/20/2022 | 09:51am EDT
FILE PHOTO: The McDonald's company logo stands on a sign outside a restaurant in Bretigny-sur-Orge, near Paris

NEW YORK, Jan 20 (Reuters) - McDonald's Corp said on Thursday it will expand its U.S. test of a plant-based burger it created with vegan meat maker Beyond Meat Inc to about 600 locations next month.

The restaurants - in San Francisco, California and Dallas-Forth Worth, Texas - will sell the so-called "McPlant" burger starting Feb. 14 for as long as supplies last in order to "help us understand customer demand," the Chicago-based chain said in a post on its website.

Shares of Beyond Meat, which makes the McPlant patty from peas, rice and potatoes, were up more than 5% at midday.

McDonald's initially tested the burger in eight U.S. locations in November.

In December, two Wall Street analysts forecast a major U.S. expansion of the McPlant.

One of those analysts, BTIG's Peter Saleh, said on Thursday that the expanded test "moves the product one step closer to a national launch, which could be worth several hundred million dollars" to Beyond Meat. (Reporting by Deborah Sophia in Bengaluru; Additional reporting by Hilary Russ in New York; Editing by Kirsten Donovan and Bernadette Baum)


© Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
BEYOND MEAT, INC. -7.01% 22.94 Delayed Quote.-62.14%
FEEDER CATTLE?FUTURES (GF) - CMG (ELECTRONIC)/C1 0.07% 153.55 End-of-day quote.-8.07%
LIVE CATTLE (LE) - CMG (ELECTRONIC)/C1 0.15% 132.975 End-of-day quote.-4.96%
MCDONALD'S CORPORATION 2.74% 244.52 Delayed Quote.-11.22%
S&P 500 -0.81% 3941.48 Real-time Quote.-16.63%
ZR (ZR) - CBE (ELECTRONIC)/C1 0.70% 17.285 End-of-day quote.18.05%
All news about BEYOND MEAT, INC.
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10:19aBeyond Meat Collaborating With Kim Kardashian on New Marketing Campaign
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09:23aKim Kardashian is Featured in a New Campaign by Beyond Meat® as the Company's First Chi..
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05/18Foodtech Pioneer Impossible Foods Sues Competitor Motif For Patent Infringement
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05/13UBS Adjusts Beyond Meat Price Target to $20 From $48, Maintains Neutral Rating
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05/13Credit Suisse Adjusts Beyond Meat's Price Target to $20 from $40, Keeps Underperform Ra..
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05/13NORTH AMERICAN MORNING BRIEFING : Tech Futures -2-
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05/12Wall Street whipsaws, S&P closes lower on worries of prolonged inflation
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05/12Tapestry, Sonos rise; AmerisourceBergen, Capital One fall
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05/12Beyond Meat Posts Lackluster Q1 Earnings, Challenges Continue to Build, Oppenheimer Say..
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Analyst Recommendations on BEYOND MEAT, INC.
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Financials (USD)
Sales 2022 569 M - -
Net income 2022 -279 M - -
Net Debt 2022 778 M - -
P/E ratio 2022 -5,61x
Yield 2022 -
Capitalization 1 568 M 1 568 M -
EV / Sales 2022 4,12x
EV / Sales 2023 3,66x
Nbr of Employees 1 108
Free-Float 91,3%
Chart BEYOND MEAT, INC.
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Beyond Meat, Inc. Technical Analysis Chart | BYND | US08862E1091 | MarketScreener
Technical analysis trends BEYOND MEAT, INC.
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Income Statement Evolution
Consensus
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Mean consensus HOLD
Number of Analysts 21
Last Close Price 24,67 $
Average target price 27,82 $
Spread / Average Target 12,8%
EPS Revisions
Managers and Directors
Ethan Walden Brown President, Chief Executive Officer & Director
Philip E Hardin Chief Financial Officer
Seth Goldman Chairman
Douglas Wayne Ramsey Chief Operating Officer
Raymond J. Lane Lead Independent Director
Sector and Competitors