JPMorgan Chase & Co. Cuts BellRing Brands (NYSE:BRBR) Price Target to $64.00

BellRing Brands (NYSE:BRBR) had its price target trimmed by JPMorgan Chase & Co. from $65.00 to $64.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage currently has an overweight rating on the stock.

Several other brokerages have also weighed in on BRBR. Needham & Company LLC reaffirmed a buy rating and issued a $66.00 target price on shares of BellRing Brands in a research report on Tuesday. Stifel Nicolaus increased their target price on BellRing Brands from $63.00 to $67.00 and gave the stock a buy rating in a research report on Wednesday, May 8th. Deutsche Bank Aktiengesellschaft decreased their price target on BellRing Brands from $67.00 to $65.00 and set a buy rating for the company in a research note on Thursday, July 25th. Barclays raised their price target on BellRing Brands from $62.00 to $65.00 and gave the company an overweight rating in a report on Thursday, May 9th. Finally, Stephens reissued an equal weight rating and set a $55.00 price target on shares of BellRing Brands in a report on Tuesday. Three research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, BellRing Brands has a consensus rating of Moderate Buy and an average price target of $62.64.

BellRing Brands Stock Down 0.9 %

Shares of BRBR traded down $0.47 during trading on Wednesday, reaching $54.53. The company’s stock had a trading volume of 1,217,975 shares, compared to its average volume of 1,372,130. The company has a fifty day moving average of $54.99 and a two-hundred day moving average of $56.73. BellRing Brands has a twelve month low of $36.73 and a twelve month high of $62.76. The company has a market cap of $7.11 billion, a price-to-earnings ratio of 37.87, a P/E/G ratio of 1.50 and a beta of 0.84.

BellRing Brands (NYSE:BRBR) last issued its earnings results on Monday, August 5th. The company reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.44 by $0.10. BellRing Brands had a negative return on equity of 70.95% and a net margin of 10.39%. The firm had revenue of $515.40 million for the quarter, compared to analyst estimates of $504.73 million. During the same period last year, the company earned $0.34 earnings per share. The firm’s revenue for the quarter was up 15.6% on a year-over-year basis. As a group, equities analysts forecast that BellRing Brands will post 1.8 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Chairman Robert V. Vitale sold 15,000 shares of BellRing Brands stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $60.15, for a total value 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.80% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On BellRing Brands

A number of institutional investors have recently bought and sold shares of BRBR. Opal Wealth Advisors LLC acquired a new stake in BellRing Brands during the 2nd quarter worth about $28,000. Rise Advisors LLC acquired a new stake in BellRing Brands during the 1st quarter worth about $32,000. Parallel Advisors LLC boosted its position in BellRing Brands by 153.6% during the 4th quarter. Parallel Advisors LLC now owns 596 shares of the company’s stock worth $33,000 after acquiring an additional 361 shares during the period. E Fund Management Hong Kong Co. Ltd. acquired a new stake in BellRing Brands during the 1st quarter worth about $37,000. Finally, Global Wealth Management Investment Advisory Inc. acquired a new stake in BellRing Brands during the 4th quarter worth about $44,000. Hedge funds and other institutional investors own 94.97% of the company’s stock.

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.