MCD - Is It Time to Buy into the Beyond Meat Hype?
Beyond Meat (NASDAQ: BYND) manufactures "meat" products made from plant-based ingredients. The company's mission is to benefit the environment, human health, animal welfare, and natural resource consumption. This message resonates with an increasingly health-conscious, environmentally sensitive population.
Beyond Meat's products first hit the shelves in 2013, and the company has grown rapidly ever since, reporting revenue of $91 million in the most recent quarter. It more than tripled last year's Q3 revenue. The company is also gaining traction outside grocery stores by establishing partnerships with major restaurant brands including McDonald's (NYSE: MCD), Yum! Brands (NYSE: YUM) Kentucky Fried Chicken, Dunkin' (NASDAQ: DNKN), and Subway.
The pilot tests conducted with these partnerships have been welcomed as total successes by management, making the company very bullish about marketplace validation, demand, and the opportunity to roll out new distribution channels. Beyond is also enjoying momentum internationally.