Zacks Investment Management Boosts Position in BellRing Brands, Inc. (NYSE:BRBR)

Zacks Investment Management lifted its stake in shares of BellRing Brands, Inc. (NYSE:BRBR) by 1.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 70,195 shares of the company’s stock after buying an additional 748 shares during the quarter. Zacks Investment Management’s holdings in BellRing Brands were worth $4,262,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Holocene Advisors LP bought a new position in shares of BellRing Brands during the third quarter valued at approximately $69,998,000. D. E. Shaw & Co. Inc. grew its position in 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 during the last quarter. Squarepoint Ops LLC increased its stake in BellRing Brands by 665.2% during the 2nd 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 in the last quarter. E. Ohman J or Asset Management AB purchased a new position in BellRing Brands in the third quarter worth about $30,753,000. Finally, Champlain Investment Partners LLC bought a new position in shares of BellRing Brands in the third quarter worth approximately $30,699,000. Hedge funds and other institutional investors own 94.97% of the company’s stock.

BellRing Brands Stock Performance

Shares of BellRing Brands stock opened at $77.94 on Monday. The stock has a market cap of $10.04 billion, a P/E ratio of 41.68, a P/E/G ratio of 2.59 and a beta of 0.86. The stock’s fifty day moving average is $69.15 and its 200 day moving average is $60.69. BellRing Brands, Inc. has a one year low of $48.06 and a one year high of $79.90.

BellRing Brands (NYSE:BRBR) last posted its quarterly earnings data on Monday, November 18th. The company reported $0.51 earnings per share for the quarter, beating analysts’ consensus estimates of $0.50 by $0.01. The firm had revenue of $555.80 million for 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 business’s quarterly revenue was up 17.6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.41 EPS. Analysts predict that BellRing Brands, Inc. will post 2.16 EPS for the current year.

Analyst Upgrades and Downgrades

BRBR has been the subject of a number of recent analyst reports. Truist Financial boosted their price objective on shares of BellRing Brands from $60.00 to $75.00 and gave the stock a “hold” rating in a report on Wednesday, November 20th. Bank of America upped their price target on BellRing Brands from $75.00 to $82.00 and gave the company a “buy” rating in a report on Wednesday, November 20th. Barclays increased their price objective on BellRing Brands from $74.00 to $79.00 and gave the company an “overweight” rating in a research report on Thursday, November 21st. Jefferies Financial Group boosted their target price on BellRing Brands from $61.00 to $84.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. Finally, Stifel Nicolaus raised their price target on shares of BellRing Brands from $67.00 to $81.00 and gave the company a “buy” rating in a report on Wednesday, November 20th. Three equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $75.60.

About BellRing Brands

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.