Point72 Asia Singapore Pte. Ltd. Acquires New Stake in BellRing Brands, Inc. (NYSE:BRBR)

Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of BellRing Brands, Inc. (NYSE:BRBR) in the third quarter, according to the company in its most recent filing with the SEC. The firm acquired 6,925 shares of the company’s stock, valued at approximately $420,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Opal Wealth Advisors LLC purchased a new stake in shares of BellRing Brands during the second quarter worth about $28,000. V Square Quantitative Management LLC acquired a new stake in BellRing Brands during the third quarter worth approximately $31,000. Farther Finance Advisors LLC grew its stake in BellRing Brands by 243.1% in the 3rd quarter. Farther Finance Advisors LLC now owns 669 shares of the company’s stock worth $41,000 after acquiring an additional 474 shares during the period. Truvestments Capital LLC acquired a new position in BellRing Brands in the 3rd quarter valued at $44,000. Finally, Quarry LP lifted its stake in shares of BellRing Brands by 65.3% during the 2nd quarter. Quarry LP now owns 957 shares of the company’s stock worth $55,000 after purchasing an additional 378 shares during the period. Institutional investors and hedge funds own 94.97% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. Bank of America lifted their price objective on BellRing Brands from $75.00 to $82.00 and gave the company a “buy” rating in a research report on Wednesday, November 20th. Stephens lifted their price target on BellRing Brands from $61.00 to $75.00 and gave the company an “equal weight” rating in a report on Monday, November 25th. Stifel Nicolaus increased their price objective on shares of BellRing Brands from $67.00 to $81.00 and gave the stock a “buy” rating in a report on Wednesday, November 20th. 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. Finally, DA Davidson reaffirmed a “neutral” rating and set a $75.00 price target on shares of BellRing Brands in a research note on Tuesday, November 19th. Three research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, BellRing Brands currently has a consensus rating of “Moderate Buy” and a consensus target price of $75.60.

BellRing Brands Price Performance

NYSE:BRBR opened at $77.62 on Tuesday. BellRing Brands, Inc. has a 12 month low of $48.06 and a 12 month high of $79.90. The business’s 50-day moving average is $67.46 and its two-hundred day moving average is $59.99. The firm has a market capitalization of $10.00 billion, a PE ratio of 41.51, a price-to-earnings-growth ratio of 2.63 and a beta of 0.84.

BellRing Brands (NYSE:BRBR) last announced its earnings results on Monday, November 18th. The company reported $0.51 EPS for the quarter, beating the consensus estimate of $0.50 by $0.01. BellRing Brands had a negative return on equity of 103.89% and a net margin of 12.35%. The business had revenue of $555.80 million for the quarter, compared to the consensus estimate of $545.00 million. During the same period last year, the business posted $0.41 EPS. The company’s revenue was up 17.6% on a year-over-year basis. Equities analysts anticipate that BellRing Brands, Inc. will post 2.16 EPS for the current year.

BellRing Brands Company 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.