Retirement Systems of Alabama Cuts Position in BellRing Brands, Inc. (NYSE:BRBR)

Retirement Systems of Alabama lessened its holdings in BellRing Brands, Inc. (NYSE:BRBR) by 12.6% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 219,336 shares of the company’s stock after selling 31,552 shares during the period. Retirement Systems of Alabama owned approximately 0.17% of BellRing Brands worth $13,318,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of BRBR. V Square Quantitative Management LLC purchased a new position in shares of BellRing Brands in the 3rd quarter worth approximately $31,000. Farther Finance Advisors LLC lifted its stake in BellRing Brands by 243.1% in the third quarter. Farther Finance Advisors LLC now owns 669 shares of the company’s stock valued at $41,000 after purchasing an additional 474 shares during the last quarter. Truvestments Capital LLC purchased a new position in BellRing Brands in the third quarter valued at approximately $44,000. Quarry LP lifted its stake in BellRing Brands by 65.3% in the second quarter. Quarry LP now owns 957 shares of the company’s stock valued at $55,000 after purchasing an additional 378 shares during the last quarter. Finally, Fifth Third Bancorp lifted its stake in BellRing Brands by 51.4% in the second quarter. Fifth Third Bancorp now owns 1,102 shares of the company’s stock valued at $63,000 after purchasing an additional 374 shares during the last quarter. Hedge funds and other institutional investors own 94.97% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. Stifel Nicolaus upped their price objective on BellRing Brands from $67.00 to $81.00 and gave the company a “buy” rating in a research note on Wednesday, November 20th. DA Davidson reiterated a “neutral” rating and issued a $75.00 price objective on shares of BellRing Brands in a research note on Tuesday, November 19th. Evercore ISI upped their price objective on BellRing Brands from $70.00 to $78.00 and gave the company an “outperform” rating in a research note on Wednesday, November 20th. Truist Financial boosted their target price on shares of BellRing Brands from $60.00 to $75.00 and gave the company a “hold” rating in a report on Wednesday, November 20th. Finally, Barclays boosted their target price on shares of BellRing Brands from $74.00 to $79.00 and gave the company an “overweight” rating in a report on Thursday, November 21st. Three research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, BellRing Brands presently has a consensus rating of “Moderate Buy” and an average price target of $75.60.

BellRing Brands Stock Performance

BellRing Brands stock opened at $78.00 on Monday. The stock has a market cap of $10.04 billion, a P/E ratio of 41.71, a PEG ratio of 2.59 and a beta of 0.86. BellRing Brands, Inc. has a fifty-two week low of $48.06 and a fifty-two week high of $79.90. The firm’s fifty day moving average price is $70.76 and its 200-day moving average price is $61.36.

BellRing Brands (NYSE:BRBR) last released its quarterly earnings results on Monday, November 18th. The company reported $0.51 earnings per share for the quarter, topping the consensus estimate 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 net margin of 12.35% and a negative return on equity of 103.89%. The business’s quarterly revenue was up 17.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.41 earnings per share. Sell-side analysts predict that BellRing Brands, Inc. will post 2.16 earnings per share for the current 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.