BellRing Brands, Inc. (NYSE:BRBR) Stock Position Lowered by Cynosure Group LLC

Cynosure Group LLC lowered its position in shares of BellRing Brands, Inc. (NYSE:BRBR) by 14.5% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,932 shares of the company’s stock after selling 1,009 shares during the quarter. Cynosure Group LLC’s holdings in BellRing Brands were worth $360,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. D. E. Shaw & Co. Inc. boosted its position in shares of BellRing Brands by 135.2% during the 2nd quarter. D. E. Shaw & Co. Inc. now owns 1,473,940 shares of the company’s stock valued at $84,221,000 after purchasing an additional 847,161 shares in the last quarter. Squarepoint Ops LLC lifted its stake in BellRing Brands by 665.2% during the second quarter. Squarepoint Ops LLC now owns 627,361 shares of the company’s stock valued at $35,847,000 after purchasing an additional 545,371 shares during the last quarter. E. Ohman J or Asset Management AB bought a new stake in BellRing Brands during the third quarter worth approximately $30,753,000. Champlain Investment Partners LLC acquired a new position in BellRing Brands in the third quarter worth approximately $30,699,000. Finally, Point72 Asset Management L.P. increased its holdings in shares of BellRing Brands by 23.3% in the second quarter. Point72 Asset Management L.P. now owns 2,131,174 shares of the company’s stock valued at $121,775,000 after buying an additional 402,666 shares in the last quarter. 94.97% of the stock is owned by institutional investors and hedge funds.

BellRing Brands Price Performance

Shares of NYSE BRBR opened at $77.16 on Friday. BellRing Brands, Inc. has a one year low of $48.06 and a one year high of $79.90. The business’s 50-day moving average price is $67.10 and its two-hundred day moving average price is $59.85. The company has a market capitalization of $9.97 billion, a P/E ratio of 41.26, a price-to-earnings-growth ratio of 2.58 and a beta of 0.84.

BellRing Brands (NYSE:BRBR) last announced its quarterly earnings results on Monday, November 18th. The company reported $0.51 EPS for the quarter, beating the consensus estimate of $0.50 by $0.01. The business had revenue of $555.80 million during the quarter, compared to analysts’ expectations of $545.00 million. BellRing Brands had a negative return on equity of 103.89% and a net margin of 12.35%. The firm’s quarterly revenue was up 17.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.41 EPS. On average, equities analysts anticipate that BellRing Brands, Inc. will post 2.16 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on BRBR shares. Truist Financial raised their price objective on BellRing Brands from $60.00 to $75.00 and gave the stock a “hold” rating in a research note on Wednesday, November 20th. DA Davidson restated a “neutral” rating and set a $75.00 price objective on shares of BellRing Brands in a report on Tuesday, November 19th. Bank of America raised their target price on shares of BellRing Brands from $75.00 to $82.00 and gave the stock a “buy” rating in a report on Wednesday, November 20th. Needham & Company LLC restated a “buy” rating and set a $66.00 price target on shares of BellRing Brands in a report on Tuesday, August 6th. Finally, Jefferies Financial Group raised their price objective on shares of BellRing Brands from $61.00 to $84.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. Three investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, BellRing Brands currently has a consensus rating of “Moderate Buy” and an average price target of $75.60.

BellRing Brands Company Profile

BellRing Brands, Inc, together with its subsidiaries, provides various nutrition products in the United States. The company offers ready-to-drink (RTD) protein shakes, other RTD beverages, powders, nutrition bars, and other products primarily under the Premier Protein and Dymatize brands. It distributes its products through club, food, drug, mass, eCommerce, specialty, and convenience channels.