Eagle Asset Management Inc. Cuts Holdings in BellRing Brands, Inc. (NYSE:BRBR)

Eagle Asset Management Inc. cut its holdings in BellRing Brands, Inc. (NYSE:BRBR) by 37.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 201,090 shares of the company’s stock after selling 117,903 shares during the quarter. Eagle Asset Management Inc. owned 0.16% of BellRing Brands worth $12,210,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Braun Stacey Associates Inc. purchased a new stake in shares of BellRing Brands during the 3rd quarter worth approximately $18,680,000. Dimensional Fund Advisors LP grew its holdings in BellRing Brands by 3.7% in the second quarter. Dimensional Fund Advisors LP now owns 2,423,483 shares of the company’s stock valued at $138,482,000 after purchasing an additional 86,992 shares during the last quarter. WINTON GROUP Ltd increased its position in shares of BellRing Brands by 186.5% in the second quarter. WINTON GROUP Ltd now owns 44,642 shares of the company’s stock valued at $2,551,000 after buying an additional 29,060 shares in the last quarter. Federated Hermes Inc. raised its stake in shares of BellRing Brands by 28.0% during the 2nd quarter. Federated Hermes Inc. now owns 474,168 shares of the company’s stock worth $27,094,000 after buying an additional 103,604 shares during the last quarter. Finally, AQR Capital Management LLC boosted its position in shares of BellRing Brands by 72.3% in the 2nd quarter. AQR Capital Management LLC now owns 532,359 shares of the company’s stock worth $30,419,000 after buying an additional 223,430 shares in the last quarter. Institutional investors and hedge funds own 94.97% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have weighed in on BRBR shares. JPMorgan Chase & Co. dropped their target price on shares of BellRing Brands from $65.00 to $64.00 and set an “overweight” rating for the company in a report on Wednesday, August 7th. Barclays upped their target price on BellRing Brands from $74.00 to $79.00 and gave the company an “overweight” rating in a research note on Thursday. Mizuho upped their price objective on shares of BellRing Brands from $72.00 to $80.00 and gave the company an “outperform” rating in a research note on Wednesday. Needham & Company LLC reiterated a “buy” rating and issued a $66.00 price target on shares of BellRing Brands in a report on Tuesday, August 6th. Finally, Truist Financial raised their price objective on BellRing Brands from $60.00 to $75.00 and gave the stock a “hold” rating in a report on Wednesday. Three investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $74.27.

BellRing Brands Stock Up 2.8 %

Shares of BRBR stock opened at $78.60 on Friday. BellRing Brands, Inc. has a fifty-two week low of $48.06 and a fifty-two week high of $78.68. The firm’s 50 day moving average price is $65.65 and its two-hundred day moving average price is $59.34. The stock has a market cap of $10.16 billion, a price-to-earnings ratio of 42.03, a price-to-earnings-growth ratio of 2.56 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 earnings per share for the quarter, topping analysts’ consensus estimates of $0.50 by $0.01. BellRing Brands had a net margin of 12.35% and a negative return on equity of 103.89%. The firm had revenue of $555.80 million during the quarter, compared to analysts’ expectations of $545.00 million. During the same period in the prior year, the company earned $0.41 EPS. The firm’s revenue was up 17.6% on a year-over-year basis. On average, equities analysts forecast that BellRing Brands, Inc. will post 2.17 EPS for the current fiscal year.

BellRing Brands 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.