JPMorgan Chase & Co. Raises BellRing Brands (NYSE:BRBR) Price Target to $65.00

BellRing Brands (NYSE:BRBR) had its target price boosted by JPMorgan Chase & Co. from $64.00 to $65.00 in a research report sent to investors on Friday morning, Benzinga reports. The firm currently has an overweight rating on the stock.

Other equities research analysts have also issued reports about the company. TD Cowen raised their price objective on BellRing Brands from $64.00 to $70.00 and gave the company a buy rating in a research note on Wednesday, May 8th. Mizuho boosted their price objective on shares of BellRing Brands from $60.00 to $68.00 and gave the company a buy rating in a research report on Wednesday, May 8th. Stifel Nicolaus increased their target price on shares of BellRing Brands from $63.00 to $67.00 and gave the company a buy rating in a research note on Wednesday, May 8th. Deutsche Bank Aktiengesellschaft began coverage on shares of BellRing Brands in a research note on Thursday, May 23rd. They set a buy rating and a $67.00 price target for the company. Finally, Stephens reiterated an equal weight rating and set a $53.00 price target on shares of BellRing Brands in a report on Tuesday, May 7th. Three research 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, BellRing Brands currently has a consensus rating of Moderate Buy and an average price target of $62.43.

BellRing Brands Stock Performance

Shares of BRBR opened at $50.65 on Friday. The stock has a market capitalization of $6.61 billion, a PE ratio of 35.17, a P/E/G ratio of 1.43 and a beta of 0.84. The company’s fifty day moving average is $57.14 and its 200 day moving average is $56.98. BellRing Brands has a fifty-two week low of $34.98 and a fifty-two week high of $62.76.

BellRing Brands (NYSE:BRBR) last posted its earnings results on Monday, May 6th. The company reported $0.45 earnings per share for the quarter, topping analysts’ consensus estimates of $0.34 by $0.11. The firm had revenue of $494.60 million for the quarter, compared to the consensus estimate of $467.22 million. BellRing Brands had a net margin of 10.39% and a negative return on equity of 70.95%. The business’s quarterly revenue was up 28.3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.24 EPS. As a group, research analysts forecast that BellRing Brands will post 1.8 earnings per share for the current year.

Insider Buying and Selling at BellRing Brands

In other news, Chairman Robert V. Vitale sold 15,000 shares of the stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $60.15, for a total transaction of $902,250.00. Following the transaction, the chairman now owns 215,054 shares of the company’s stock, valued at approximately $12,935,498.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On BellRing Brands

Institutional investors have recently bought and sold shares of the business. Norges Bank bought a new stake in BellRing Brands during the 4th quarter valued at $91,936,000. Franklin Resources Inc. grew its stake in BellRing Brands by 60.3% in the fourth quarter. Franklin Resources Inc. now owns 3,666,584 shares of the company’s stock valued at $203,239,000 after purchasing an additional 1,379,138 shares during the last quarter. Vanguard Group Inc. raised its holdings in BellRing Brands by 5.3% in the first quarter. Vanguard Group Inc. now owns 13,978,857 shares of the company’s stock worth $825,172,000 after purchasing an additional 698,121 shares in the last quarter. Principal Financial Group Inc. lifted its position in shares of BellRing Brands by 87.2% during the first quarter. Principal Financial Group Inc. now owns 1,088,337 shares of the company’s stock valued at $64,245,000 after buying an additional 506,895 shares during the last quarter. Finally, Assenagon Asset Management S.A. boosted its holdings in shares of BellRing Brands by 1,006.0% in the 2nd quarter. Assenagon Asset Management S.A. now owns 372,590 shares of the company’s stock valued at $21,290,000 after buying an additional 338,903 shares in the last quarter. 94.97% of the stock is owned by hedge funds and other institutional investors.

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.