Oak Ridge Investments LLC Buys 3,224 Shares of BellRing Brands, Inc. (NYSE:BRBR)

Oak Ridge Investments LLC lifted its stake in shares of BellRing Brands, Inc. (NYSE:BRBR) by 2.6% during the third quarter, HoldingsChannel.com reports. The firm owned 126,836 shares of the company’s stock after purchasing an additional 3,224 shares during the quarter. Oak Ridge Investments LLC’s holdings in BellRing Brands were worth $7,701,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Vanguard Personalized Indexing Management LLC grew its position in BellRing Brands by 2.4% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 10,375 shares of the company’s stock worth $540,000 after buying an additional 242 shares in the last quarter. Hanseatic Management Services Inc. boosted its holdings in shares of BellRing Brands by 1.8% in the 2nd quarter. Hanseatic Management Services Inc. now owns 14,484 shares of the company’s stock worth $828,000 after purchasing an additional 263 shares in the last quarter. Bessemer Group Inc. boosted its holdings in shares of BellRing Brands by 3.8% in the 1st quarter. Bessemer Group Inc. now owns 7,459 shares of the company’s stock worth $440,000 after purchasing an additional 276 shares in the last quarter. Fifth Third Bancorp boosted its holdings in shares of BellRing Brands by 51.4% in the 2nd quarter. Fifth Third Bancorp now owns 1,102 shares of the company’s stock worth $63,000 after purchasing an additional 374 shares in the last quarter. Finally, Quarry LP boosted its holdings in shares of BellRing Brands by 65.3% in the 2nd quarter. Quarry LP now owns 957 shares of the company’s stock worth $55,000 after purchasing an additional 378 shares in the last quarter. 94.97% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on BRBR. Needham & Company LLC reiterated a “buy” rating and issued a $66.00 price objective on shares of BellRing Brands in a report on Tuesday, August 6th. Truist Financial increased their target price on BellRing Brands from $50.00 to $60.00 and gave the company a “hold” rating in a report on Wednesday, October 16th. Evercore ISI increased their target price on BellRing Brands from $65.00 to $70.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Bank of America increased their target price on BellRing Brands from $67.00 to $75.00 and gave the company a “buy” rating in a report on Tuesday, October 15th. Finally, Barclays increased their target price on BellRing Brands from $65.00 to $68.00 and gave the company an “overweight” rating in a report on Friday, October 11th. Three investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $65.71.

BellRing Brands Stock Performance

NYSE:BRBR opened at $65.83 on Friday. The stock has a 50-day simple moving average of $60.88 and a two-hundred day simple moving average of $57.56. BellRing Brands, Inc. has a 52-week low of $43.32 and a 52-week high of $67.12. The firm has a market capitalization of $8.51 billion, a PE ratio of 39.42, a P/E/G ratio of 1.56 and a beta of 0.85.

BellRing Brands (NYSE:BRBR) last released its earnings results on Monday, August 5th. The company reported $0.54 EPS for the quarter, beating analysts’ consensus estimates of $0.44 by $0.10. BellRing Brands had a negative return on equity of 88.30% and a net margin of 11.55%. The firm had revenue of $515.40 million for the quarter, compared to analysts’ expectations of $504.73 million. During the same quarter in the prior year, the firm posted $0.34 earnings per share. The company’s quarterly revenue was up 15.6% on a year-over-year basis. Equities analysts forecast that BellRing Brands, Inc. will post 1.9 earnings per share for the current fiscal year.

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.