BellRing Brands, Inc. (NYSE:BRBR) Sees Large Drop in Short Interest

BellRing Brands, Inc. (NYSE:BRBR) was the recipient of a large decrease in short interest in the month of December. As of December 31st, there was short interest totalling 1,600,000 shares, a decrease of 6.4% from the December 15th total of 1,710,000 shares. Based on an average daily volume of 949,600 shares, the days-to-cover ratio is presently 1.7 days.

BellRing Brands Trading Down 1.2 %

Shares of BellRing Brands stock traded down $0.86 during trading on Monday, reaching $72.37. The company’s stock had a trading volume of 959,756 shares, compared to its average volume of 774,575. BellRing Brands has a one year low of $48.06 and a one year high of $79.90. The stock has a 50-day moving average price of $75.34 and a two-hundred day moving average price of $64.36. The stock has a market capitalization of $9.32 billion, a P/E ratio of 38.70, a price-to-earnings-growth ratio of 2.39 and a beta of 0.86.

BellRing Brands (NYSE:BRBR) last announced its earnings results on Monday, November 18th. The company reported $0.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.50 by $0.01. The company had revenue of $555.80 million for the quarter, compared to analyst estimates of $545.00 million. BellRing Brands had a net margin of 12.35% and a negative return on equity of 103.89%. BellRing Brands’s quarterly revenue was up 17.6% on a year-over-year basis. During the same period in the prior year, the business earned $0.41 earnings per share. As a group, sell-side analysts anticipate that BellRing Brands will post 2.16 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Stephens raised their price objective on shares of BellRing Brands from $61.00 to $75.00 and gave the stock an “equal weight” rating in a research note on Monday, November 25th. TD Cowen boosted their price objective on shares of BellRing Brands from $83.00 to $86.00 and gave the stock a “buy” rating in a report on Wednesday, January 8th. Citigroup increased their target price on shares of BellRing Brands from $72.00 to $83.00 and gave the company a “buy” rating in a research note on Wednesday, November 20th. Barclays boosted their price target on BellRing Brands from $74.00 to $79.00 and gave the company an “overweight” rating in a research note on Thursday, November 21st. Finally, Evercore ISI raised their price objective on BellRing Brands from $70.00 to $78.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 20th. Three investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, BellRing Brands presently has an average rating of “Moderate Buy” and a consensus price target of $76.67.

Institutional Investors Weigh In On BellRing Brands

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Holocene Advisors LP bought a new position in BellRing Brands in the third quarter valued at about $69,998,000. D. E. Shaw & Co. Inc. boosted its stake in shares of BellRing Brands by 135.2% in 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. Assenagon Asset Management S.A. grew its position in shares of BellRing Brands by 200.0% during the 4th quarter. Assenagon Asset Management S.A. now owns 992,585 shares of the company’s stock worth $74,781,000 after buying an additional 661,774 shares during the period. Squarepoint Ops LLC raised its stake in shares of BellRing Brands by 665.2% during the second quarter. Squarepoint Ops LLC now owns 627,361 shares of the company’s stock worth $35,847,000 after buying an additional 545,371 shares during the last quarter. Finally, E. Ohman J or Asset Management AB acquired a new position in BellRing Brands in the third quarter valued at approximately $30,753,000. 94.97% of the stock is owned by institutional investors and hedge funds.

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.