Mediolanum International Funds Ltd Reduces Holdings in BellRing Brands, Inc. (NYSE:BRBR)

Mediolanum International Funds Ltd reduced its holdings in shares of BellRing Brands, Inc. (NYSE:BRBR) by 42.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 105,411 shares of the company’s stock after selling 77,283 shares during the period. Mediolanum International Funds Ltd owned about 0.08% of BellRing Brands worth $7,954,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of BRBR. Braun Stacey Associates Inc. bought a new stake in BellRing Brands during the 3rd quarter valued at $18,680,000. Charles Schwab Investment Management Inc. raised its holdings in shares of BellRing Brands by 35.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,267,283 shares of the company’s stock valued at $76,949,000 after acquiring an additional 333,287 shares in the last quarter. Pallas Capital Advisors LLC grew its holdings in BellRing Brands by 152.0% during the 4th quarter. Pallas Capital Advisors LLC now owns 16,775 shares of the company’s stock worth $1,264,000 after acquiring an additional 10,117 shares in the last quarter. Banco Santander S.A. purchased a new position in BellRing Brands during the 3rd quarter valued at about $672,000. Finally, Empowered Funds LLC raised its holdings in shares of BellRing Brands by 151.4% in the 3rd quarter. Empowered Funds LLC now owns 69,844 shares of the company’s stock valued at $4,241,000 after purchasing an additional 42,059 shares in the last quarter. 94.97% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on BRBR shares. Citigroup lifted their price objective on shares of BellRing Brands from $83.00 to $90.00 and gave the company a “buy” rating in a report on Wednesday. Truist Financial lifted their price target on BellRing Brands from $60.00 to $75.00 and gave the company a “hold” rating in a report on Wednesday, November 20th. Stephens upped their price objective on BellRing Brands from $61.00 to $75.00 and gave the stock an “equal weight” rating in a research note on Monday, November 25th. DA Davidson reiterated a “neutral” rating and issued a $75.00 target price on shares of BellRing Brands in a research note on Tuesday, November 19th. Finally, Barclays increased their price target on shares of BellRing Brands from $74.00 to $79.00 and gave the company an “overweight” rating in a research 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 company. According to MarketBeat.com, BellRing Brands has an average rating of “Moderate Buy” and an average price target of $77.13.

BellRing Brands Trading Down 2.6 %

NYSE BRBR opened at $77.36 on Friday. BellRing Brands, Inc. has a 12-month low of $48.06 and a 12-month high of $80.67. The company has a fifty day simple moving average of $76.03 and a two-hundred day simple moving average of $65.50. The stock has a market cap of $9.96 billion, a P/E ratio of 41.37, a P/E/G ratio of 2.64 and a beta of 0.86.

BellRing Brands (NYSE:BRBR) last issued its quarterly earnings results on Monday, November 18th. The company reported $0.51 EPS for the quarter, topping analysts’ consensus estimates of $0.50 by $0.01. The company had revenue of $555.80 million during the quarter, compared to analysts’ expectations of $545.00 million. BellRing Brands had a negative return on equity of 103.89% and a net margin of 12.35%. The firm’s revenue was up 17.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.41 EPS. As a group, sell-side analysts forecast that BellRing Brands, Inc. will post 2.16 earnings per share 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.