Oak Ridge Investments LLC Has $9.78 Million Position in BellRing Brands, Inc. (NYSE:BRBR)

Oak Ridge Investments LLC raised its holdings in BellRing Brands, Inc. (NYSE:BRBR) by 2.3% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 129,795 shares of the company’s stock after purchasing an additional 2,959 shares during the quarter. BellRing Brands accounts for about 0.8% of Oak Ridge Investments LLC’s holdings, making the stock its 27th biggest position. Oak Ridge Investments LLC’s holdings in BellRing Brands were worth $9,779,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. Envestnet Asset Management Inc. increased its holdings in BellRing Brands by 33.8% in the second quarter. Envestnet Asset Management Inc. now owns 203,732 shares of the company’s stock valued at $11,641,000 after purchasing an additional 51,498 shares during the period. Massachusetts Financial Services Co. MA bought a new position in BellRing Brands in the 2nd quarter worth about $1,000,000. Dimensional Fund Advisors LP raised its position in shares of BellRing Brands by 3.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,423,483 shares of the company’s stock valued at $138,482,000 after buying an additional 86,992 shares in the last quarter. Vanguard Personalized Indexing Management LLC raised its position in BellRing Brands by 2.4% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 10,375 shares of the company’s stock valued at $540,000 after purchasing an additional 242 shares in the last quarter. Finally, Canada Pension Plan Investment Board lifted its stake in BellRing Brands by 23.9% during the second quarter. Canada Pension Plan Investment Board now owns 270,400 shares of the company’s stock worth $15,451,000 after purchasing an additional 52,100 shares during the last quarter. 94.97% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on BRBR shares. Mizuho lifted their target price on shares of BellRing Brands from $72.00 to $80.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 20th. Truist Financial boosted their price objective on shares of BellRing Brands from $60.00 to $75.00 and gave the company a “hold” rating in a research report on Wednesday, November 20th. Bank of America increased their target price on shares of BellRing Brands from $75.00 to $82.00 and gave the stock a “buy” rating in a report on Wednesday, November 20th. Citigroup boosted their price target on BellRing Brands from $72.00 to $83.00 and gave the company a “buy” rating in a report on Wednesday, November 20th. Finally, Jefferies Financial Group lifted their price objective on BellRing Brands from $61.00 to $84.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. Three analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $76.67.

BellRing Brands Stock Down 1.2 %

Shares of NYSE:BRBR opened at $72.37 on Friday. The stock has a market capitalization of $9.32 billion, a PE ratio of 38.70, a price-to-earnings-growth ratio of 2.39 and a beta of 0.86. The firm’s 50 day moving average price is $75.34 and its 200-day moving average price is $64.29. BellRing Brands, Inc. has a twelve month low of $48.06 and a twelve month high of $79.90.

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

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.