ClearAlpha Technologies LP Sells 541 Shares of BellRing Brands, Inc. (NYSE:BRBR)

ClearAlpha Technologies LP reduced its holdings in shares of BellRing Brands, Inc. (NYSE:BRBR) by 5.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,522 shares of the company’s stock after selling 541 shares during the period. ClearAlpha Technologies LP’s holdings in BellRing Brands were worth $578,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of BRBR. Braun Stacey Associates Inc. purchased a new position in shares of BellRing Brands in the 3rd quarter valued at about $18,680,000. Dimensional Fund Advisors LP increased its holdings 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 worth $138,482,000 after buying an additional 86,992 shares during the last quarter. WINTON GROUP Ltd increased its position in shares of BellRing Brands by 186.5% during the 2nd quarter. WINTON GROUP Ltd now owns 44,642 shares of the company’s stock worth $2,551,000 after purchasing an additional 29,060 shares during the last quarter. Federated Hermes Inc. boosted its position in shares of BellRing Brands by 28.0% during the 2nd 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 boosted its position in shares of BellRing Brands by 72.3% during the second quarter. AQR Capital Management LLC now owns 532,359 shares of the company’s stock worth $30,419,000 after buying an additional 223,430 shares during the period. 94.97% of the stock is owned by hedge funds and other institutional investors.

BellRing Brands Stock Performance

BRBR opened at $78.46 on Monday. BellRing Brands, Inc. has a 52-week low of $48.06 and a 52-week high of $79.90. The firm has a market cap of $10.10 billion, a P/E ratio of 41.96, a price-to-earnings-growth ratio of 2.63 and a beta of 0.84. The business’s fifty day moving average is $67.46 and its 200-day moving average is $59.99.

BellRing Brands (NYSE:BRBR) last issued its earnings results on Monday, November 18th. The company reported $0.51 earnings per share (EPS) 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 analyst estimates of $545.00 million. BellRing Brands had a net margin of 12.35% and a negative return on equity of 103.89%. BellRing Brands’s revenue was up 17.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.41 earnings per share. On average, research analysts predict that BellRing Brands, Inc. will post 2.16 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts recently issued reports on BRBR shares. Needham & Company LLC reiterated a “buy” rating and issued a $66.00 price target on shares of BellRing Brands in a research note on Tuesday, August 6th. JPMorgan Chase & Co. dropped their price objective on shares of BellRing Brands from $65.00 to $64.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 7th. Citigroup lifted their price target on BellRing Brands from $72.00 to $83.00 and gave the company a “buy” rating in a research note on Wednesday, November 20th. Evercore ISI boosted their price target on BellRing Brands from $70.00 to $78.00 and gave the stock an “outperform” rating in a report on Wednesday, November 20th. Finally, Barclays increased their price target on shares of BellRing Brands from $74.00 to $79.00 and gave the stock an “overweight” rating in a research note on Thursday, November 21st. Three investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $75.60.

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.