Everett Harris & Co. CA Reduces Stake in BellRing Brands, Inc. (NYSE:BRBR)

Everett Harris & Co. CA decreased its position in shares of BellRing Brands, Inc. (NYSE:BRBR) by 16.9% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 3,748 shares of the company’s stock after selling 760 shares during the quarter. Everett Harris & Co. CA’s holdings in BellRing Brands were worth $228,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. V Square Quantitative Management LLC purchased a new position in BellRing Brands during the 3rd quarter worth approximately $31,000. nVerses Capital LLC acquired a new stake in shares of BellRing Brands in the third quarter valued at approximately $419,000. Exchange Traded Concepts LLC grew its position in shares of BellRing Brands by 19.1% during the third quarter. Exchange Traded Concepts LLC now owns 13,103 shares of the company’s stock worth $796,000 after acquiring an additional 2,097 shares during the last quarter. Carnegie Investment Counsel increased its holdings in shares of BellRing Brands by 17.8% in the 3rd quarter. Carnegie Investment Counsel now owns 55,667 shares of the company’s stock valued at $3,380,000 after acquiring an additional 8,423 shares during the period. Finally, CWM LLC raised its position in BellRing Brands by 264.3% in the 3rd quarter. CWM LLC now owns 3,927 shares of the company’s stock valued at $238,000 after purchasing an additional 2,849 shares during the last quarter. Institutional investors and hedge funds own 94.97% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. Stephens restated an “equal weight” rating and issued a $55.00 price objective on shares of BellRing Brands in a research note on Tuesday, August 6th. Truist Financial boosted their price target on BellRing Brands from $50.00 to $60.00 and gave the company a “hold” rating in a research report on Wednesday. Barclays upped their price objective on BellRing Brands from $65.00 to $68.00 and gave the company an “overweight” rating in a research note on Friday, October 11th. Needham & Company LLC reiterated a “buy” rating and issued a $66.00 target price on shares of BellRing Brands in a research note on Tuesday, August 6th. Finally, Bank of America boosted 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. Three investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $65.36.

BellRing Brands Stock Performance

NYSE:BRBR opened at $65.75 on Friday. The stock has a market capitalization of $8.58 billion, a price-to-earnings ratio of 45.66, a PEG ratio of 1.48 and a beta of 0.85. BellRing Brands, Inc. has a 1 year low of $42.54 and a 1 year high of $67.12. The stock has a fifty day moving average price of $58.96 and a two-hundred day moving average price of $57.02.

BellRing Brands (NYSE:BRBR) last announced its quarterly earnings data on Monday, August 5th. The company reported $0.54 EPS for the quarter, beating the consensus estimate of $0.44 by $0.10. The firm had revenue of $515.40 million during the quarter, compared to analysts’ expectations of $504.73 million. BellRing Brands had a net margin of 11.55% and a negative return on equity of 88.30%. The business’s revenue for the quarter was up 15.6% compared to the same quarter last year. During the same quarter last year, the business earned $0.34 earnings per share. On average, analysts predict that BellRing Brands, Inc. will post 1.9 EPS 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.