Intech Investment Management LLC Buys New Position in BellRing Brands, Inc. (NYSE:BRBR)

Intech Investment Management LLC purchased a new position in BellRing Brands, Inc. (NYSE:BRBR) during the third quarter, Holdings Channel reports. The institutional investor purchased 63,754 shares of the company’s stock, valued at approximately $3,871,000.

A number of other institutional investors also recently modified their holdings of the company. Braun Stacey Associates Inc. bought a new stake in BellRing Brands in the third quarter worth approximately $18,680,000. Dimensional Fund Advisors LP increased its stake in shares of BellRing Brands by 3.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,423,483 shares of the company’s stock valued at $138,482,000 after acquiring an additional 86,992 shares in the last quarter. WINTON GROUP Ltd boosted its stake in BellRing Brands by 186.5% during the second quarter. WINTON GROUP Ltd now owns 44,642 shares of the company’s stock worth $2,551,000 after acquiring an additional 29,060 shares in the last quarter. Federated Hermes Inc. grew its holdings in BellRing Brands by 28.0% in the second quarter. Federated Hermes Inc. now owns 474,168 shares of the company’s stock worth $27,094,000 after purchasing an additional 103,604 shares during the period. Finally, AQR Capital Management LLC increased its stake in BellRing Brands by 72.3% in the second quarter. AQR Capital Management LLC now owns 532,359 shares of the company’s stock valued at $30,419,000 after purchasing an additional 223,430 shares in the last quarter. 94.97% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms have recently issued reports on BRBR. Truist Financial increased their price objective on shares of BellRing Brands from $60.00 to $75.00 and gave the stock a “hold” rating in a research report on Wednesday. Stifel Nicolaus raised their price objective on BellRing Brands from $67.00 to $81.00 and gave the company a “buy” rating in a research note on Wednesday. Jefferies Financial Group upped their target price on BellRing Brands from $61.00 to $84.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. Barclays lifted 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. Finally, Needham & Company LLC restated a “buy” rating and set a $66.00 price target on shares of BellRing Brands in a research note on Tuesday, August 6th. Three equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $74.27.

BellRing Brands Stock Performance

Shares of BRBR stock opened at $78.60 on Friday. BellRing Brands, Inc. has a 52-week low of $48.06 and a 52-week high of $78.68. The company has a 50-day simple moving average of $65.65 and a two-hundred day simple moving average of $59.34. The company has a market capitalization of $10.16 billion, a price-to-earnings ratio of 42.03, a PEG ratio of 2.56 and a beta of 0.84.

BellRing Brands (NYSE:BRBR) last issued its quarterly earnings results on Monday, November 18th. The company reported $0.51 EPS for the quarter, beating analysts’ consensus estimates of $0.50 by $0.01. The company had revenue of $555.80 million during the quarter, compared to the consensus estimate of $545.00 million. BellRing Brands had a negative return on equity of 103.89% and a net margin of 12.35%. BellRing Brands’s revenue was up 17.6% on a year-over-year basis. During the same period last year, the business posted $0.41 earnings per share. On average, sell-side analysts forecast that BellRing Brands, Inc. will post 2.17 EPS for the current fiscal 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.