Franklin Resources Inc. Acquires 380,216 Shares of BellRing Brands, Inc. (NYSE:BRBR)

Franklin Resources Inc. boosted its holdings in BellRing Brands, Inc. (NYSE:BRBR) by 9.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,480,717 shares of the company’s stock after purchasing an additional 380,216 shares during the period. Franklin Resources Inc. owned about 3.47% of BellRing Brands worth $285,646,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Holocene Advisors LP bought a new stake in shares of BellRing Brands during the 3rd quarter worth $69,998,000. D. E. Shaw & Co. Inc. raised its position in BellRing Brands by 135.2% in the second quarter. D. E. Shaw & Co. Inc. now owns 1,473,940 shares of the company’s stock worth $84,221,000 after acquiring an additional 847,161 shares during the period. Squarepoint Ops LLC boosted its stake in BellRing Brands by 665.2% in the second quarter. Squarepoint Ops LLC now owns 627,361 shares of the company’s stock valued at $35,847,000 after acquiring an additional 545,371 shares during the last quarter. E. Ohman J or Asset Management AB bought a new position in shares of BellRing Brands during the 3rd quarter valued at approximately $30,753,000. Finally, Champlain Investment Partners LLC purchased a new stake in shares of BellRing Brands during the 3rd quarter worth approximately $30,699,000. Institutional investors own 94.97% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. Jefferies Financial Group upped their price objective on BellRing Brands from $61.00 to $84.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. Truist Financial increased their price target on BellRing Brands from $60.00 to $75.00 and gave the stock a “hold” rating in a research note on Wednesday, November 20th. Stephens boosted their price objective on BellRing Brands from $61.00 to $75.00 and gave the company an “equal weight” rating in a research note on Monday, November 25th. Citigroup upped their price objective on shares of BellRing Brands from $72.00 to $83.00 and gave the company a “buy” rating in a report on Wednesday, November 20th. Finally, Bank of America lifted their target price on shares of BellRing Brands from $75.00 to $82.00 and gave the stock a “buy” rating in a research note on Wednesday, November 20th. Three research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $75.60.

BellRing Brands Stock Performance

BellRing Brands stock opened at $78.00 on Friday. The stock has a market cap of $10.04 billion, a P/E ratio of 41.71, a PEG ratio of 2.59 and a beta of 0.86. BellRing Brands, Inc. has a fifty-two week low of $48.06 and a fifty-two week high of $79.90. The firm’s fifty day moving average price is $70.76 and its 200-day moving average price is $61.34.

BellRing Brands (NYSE:BRBR) last announced its earnings results on Monday, November 18th. The company reported $0.51 earnings per share for the quarter, topping analysts’ consensus estimates of $0.50 by $0.01. The business had revenue of $555.80 million for the quarter, compared to analyst estimates of $545.00 million. BellRing Brands had a negative return on equity of 103.89% and a net margin of 12.35%. The company’s quarterly revenue was up 17.6% compared to the same quarter last year. During the same period in the prior year, the company earned $0.41 EPS. Sell-side analysts predict that BellRing Brands, Inc. will post 2.16 earnings per share for the current year.

BellRing Brands 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.