Please ensure Javascript is enabled for purposes of website accessibility

Why Beyond Meat Jumped 9% Today

By Howard Smith – Sep 22, 2020 at 11:25AM

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

The company announced yesterday that it is expanding retail distribution of one of its products.

What happened

Shares of plant-based meat maker Beyond Meat (BYND -2.44%) jumped 9% earlier this morning and remain up almost 7% as of 11 a.m. EDT. The company made an announcement yesterday that may have gotten lost by investors on a down day for the stock market

So what

Beyond Meat introduced its breakfast sausage products to retail stores nationwide in March 2020. Before announcing its retail rollout, Beyond Meat founder and CEO Ethan Brown said in a release, "It has seen early success at some of the most popular and iconic quick service restaurants." 

breakfast frittata with beyond breakfast sausage

Image source: Beyond Meat.

In its announcement yesterday, the company said it will more than double the retail distribution of the plant-based sausage patties. 

Now what

By the end of September, the company says distribution of its Beyond Breakfast Sausage patties will be expanding to Kroger (KR -0.43%), Target (TGT 1.22%), Walmart (WMT 0.29%), and other grocery chain locations. 

Citing natural products retailer data company, SPINS, Beyond Meat said that popularity of frozen plant-based breakfast meat is accelerating, and that Beyond Meat was the top-selling brand in all refrigerated plant-based meat for the latest data period, ending in August. 

Its launch earlier this year received an "overwhelmingly positive response from consumers who asked for increased availability," said chief growth officer Chuck Muth.

Investors today seem to be focusing more on the product expansion and giving the share price a boost it didn't see yesterday on the news. 

Howard Smith has no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends Beyond Meat, Inc. The Motley Fool has a disclosure policy.

Invest Smarter with The Motley Fool

Join Over 1 Million Premium Members Receiving…

  • New Stock Picks Each Month
  • Detailed Analysis of Companies
  • Model Portfolios
  • Live Streaming During Market Hours
  • And Much More
Get Started Now

Stocks Mentioned

Beyond Meat, Inc. Stock Quote
Beyond Meat, Inc.
BYND
$12.41 (-2.44%) $0.31
Walmart Inc. Stock Quote
Walmart Inc.
WMT
$153.51 (0.29%) $0.44
Target Stock Quote
Target
TGT
$165.37 (1.22%) $1.99
Kroger Stock Quote
Kroger
KR
$48.83 (-0.43%) $0.21

*Average returns of all recommendations since inception. Cost basis and return based on previous market day close.

Related Articles

Motley Fool Returns

Motley Fool Stock Advisor

Market-beating stocks from our award-winning analyst team.

Stock Advisor Returns
356%
 
S&P 500 Returns
118%

Calculated by average return of all stock recommendations since inception of the Stock Advisor service in February of 2002. Returns as of 11/28/2022.

Discounted offers are only available to new members. Stock Advisor list price is $199 per year.

Premium Investing Services

Invest better with The Motley Fool. Get stock recommendations, portfolio guidance, and more from The Motley Fool's premium services.