State of New Jersey Common Pension Fund D Decreases Holdings in BellRing Brands, Inc. (NYSE:BRBR)

State of New Jersey Common Pension Fund D lowered its stake in shares of BellRing Brands, Inc. (NYSE:BRBR) by 2.0% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 48,999 shares of the company’s stock after selling 998 shares during the period. State of New Jersey Common Pension Fund D’s holdings in BellRing Brands were worth $2,975,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. D. E. Shaw & Co. Inc. increased its stake 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 worth $84,221,000 after buying an additional 847,161 shares in the last quarter. Vanguard Group Inc. increased its position in shares of BellRing Brands by 5.3% during the first quarter. Vanguard Group Inc. now owns 13,978,857 shares of the company’s stock worth $825,172,000 after purchasing an additional 698,121 shares in the last quarter. Squarepoint Ops LLC raised its stake in BellRing Brands by 665.2% in 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 during the last quarter. E. Ohman J or Asset Management AB purchased a new position in BellRing Brands in the 3rd quarter valued at $30,753,000. Finally, Point72 Asset Management L.P. boosted its stake in BellRing Brands by 23.3% during the 2nd quarter. Point72 Asset Management L.P. now owns 2,131,174 shares of the company’s stock worth $121,775,000 after purchasing an additional 402,666 shares during the last quarter. Hedge funds and other institutional investors own 94.97% of the company’s stock.

BellRing Brands Price Performance

NYSE BRBR opened at $71.78 on Wednesday. BellRing Brands, Inc. has a 12 month low of $44.37 and a 12 month high of $72.00. The stock has a market capitalization of $9.28 billion, a P/E ratio of 42.74, a PEG ratio of 1.65 and a beta of 0.84. The firm’s 50-day moving average is $62.66 and its two-hundred day moving average is $58.27.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. Deutsche Bank Aktiengesellschaft reduced their target price on shares of BellRing Brands from $67.00 to $65.00 and set a “buy” rating for the company in a research report on Thursday, July 25th. Barclays increased their price objective on shares of BellRing Brands from $68.00 to $74.00 and gave the company an “overweight” rating in a report on Wednesday, November 6th. Stephens restated an “equal weight” rating and set a $55.00 target price on shares of BellRing Brands in a report on Tuesday, August 6th. Truist Financial increased their price target on BellRing Brands from $50.00 to $60.00 and gave the company a “hold” rating in a report on Wednesday, October 16th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $66.00 price objective on shares of BellRing Brands in a research report on Tuesday, August 6th. Three analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $66.14.

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.