Tyson Foods (TSN, $76.98) to launch its own meatless products this summer
After selling its stake in Beyond Meat (BYND), Tyson Foods confirmed that it will now produce its own plant-based meat substitutes in the coming summer. This announcement sent Beyond Meat’s stock down 6% at the market opening, before rebounding as high as 7% against steeper losses in the broader market.
Even though Beyond’s IPO debut remains that strongest this year, Tyson’s market value at $22.66 billion surpasses Beyond by almost $19 billion.
Yet, Beyond and other such plant-based meat substitute manufacturers like Impossible Foods continue to threaten Tyson, which is struggling to capture the market through its products that more closely mimic the taste and texture of actual meat.
Although the number of vegan and vegetarian customers has remained stable over the past decade, there is a rise of ‘flexitarian’ diets, where consumers are embracing plant-based substitutes in their diet. The U.S. meat substitute market is currently valued at about $1.44 billion but is expected to grow 74% to $2.5 billion by 2023.
However, this market is not easy to grasp, especially for upstarts and even Beyond and Impossible Foods continue to struggle to stabilize sales.
BYND's Stochastic Oscillator sits in oversold zone for 4 days
The price of this ticker is presumed to bounce back soon, since the longer the ticker stays in the oversold zone, the more promptly an uptrend is expected.
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Notable companies
The most notable companies in this group are Mondelez International (NASDAQ:MDLZ), Kraft Heinz Company (The) (NASDAQ:KHC), General Mills (NYSE:GIS), Campbell Soup Company (NYSE:CPB), Beyond Meat (NASDAQ:BYND).
Industry description
A specialty/candy manufacturer specializes in one or more of the following: chocolate, candies, pasta, condiments, seasonings, among other items. Hershey Company, McCormick & Company and J.M. Smucker Company are some of the major firms in this segment. Demand for this industry’s products comes from both institutions/restaurants as well as households.
Market Cap
The average market capitalization across the Food: Specialty/Candy Industry is 8.85B. The market cap for tickers in the group ranges from 6.25K to 327.81B. NSRGY holds the highest valuation in this group at 327.81B. The lowest valued company is OGGFF at 6.25K.
High and low price notable news
The average weekly price growth across all stocks in the Food: Specialty/Candy Industry was 0%. For the same Industry, the average monthly price growth was 1%, and the average quarterly price growth was 13%. NUZE experienced the highest price growth at 167%, while SRKE experienced the biggest fall at -56%.
Volume
The average weekly volume growth across all stocks in the Food: Specialty/Candy Industry was 30%. For the same stocks of the Industry, the average monthly volume growth was 23% and the average quarterly volume growth was 19%
Fundamental Analysis Ratings
The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows
Valuation Rating: 51
P/E Growth Rating: 61
Price Growth Rating: 59
SMR Rating: 76
Profit Risk Rating: 80
Seasonality Score: 10 (-100 ... +100)