Quantbot Technologies LP Buys Shares of 32,063 BellRing Brands, Inc. (NYSE:BRBR)

Quantbot Technologies LP purchased a new stake in shares of BellRing Brands, Inc. (NYSE:BRBR) in the 3rd quarter, HoldingsChannel reports. The fund purchased 32,063 shares of the company’s stock, valued at approximately $1,947,000.

Several other hedge funds have also modified their holdings of BRBR. Opal Wealth Advisors LLC purchased a new stake in BellRing Brands during the second quarter valued at approximately $28,000. V Square Quantitative Management LLC purchased a new stake in shares of BellRing Brands during the 3rd quarter valued at $31,000. Farther Finance Advisors LLC boosted its position in shares of BellRing Brands by 243.1% in the 3rd quarter. Farther Finance Advisors LLC now owns 669 shares of the company’s stock worth $41,000 after purchasing an additional 474 shares in the last quarter. Truvestments Capital LLC purchased a new position in BellRing Brands during the 3rd quarter worth $44,000. Finally, Quarry LP increased its position in BellRing Brands by 65.3% during the 2nd quarter. Quarry LP now owns 957 shares of the company’s stock valued at $55,000 after buying an additional 378 shares in the last quarter. 94.97% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Needham & Company LLC reissued a “buy” rating and issued a $66.00 price target on shares of BellRing Brands in a report on Tuesday, August 6th. Jefferies Financial Group boosted their target price on shares of BellRing Brands from $61.00 to $84.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. Stephens upped their price target on shares of BellRing Brands from $61.00 to $75.00 and gave the company an “equal weight” rating in a research note on Monday. JPMorgan Chase & Co. lowered their price objective on shares of BellRing Brands from $65.00 to $64.00 and set an “overweight” rating for the company in a research note on Wednesday, August 7th. Finally, Bank of America upped their target price on BellRing Brands from $75.00 to $82.00 and gave the company a “buy” rating in a research report on Wednesday, November 20th. Three investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, BellRing Brands currently has a consensus rating of “Moderate Buy” and a consensus target price of $75.60.

BellRing Brands Trading Down 2.1 %

BellRing Brands stock opened at $77.16 on Friday. The firm has a market cap of $9.97 billion, a PE ratio of 41.26, a P/E/G ratio of 2.58 and a beta of 0.84. BellRing Brands, Inc. has a 12 month low of $48.06 and a 12 month high of $79.90. The stock’s 50 day simple moving average is $67.10 and its two-hundred day simple moving average is $59.85.

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