TD Asset Management Inc decreased its position in shares of BellRing Brands, Inc. (NYSE:BRBR – Free Report) by 4.1% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 154,441 shares of the company’s stock after selling 6,643 shares during the quarter. TD Asset Management Inc owned 0.12% of BellRing Brands worth $5,653,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Cutler Group LLC CA acquired a new stake in shares of BellRing Brands during the second quarter worth about $25,000. Geneos Wealth Management Inc. acquired a new position in BellRing Brands in the first quarter valued at approximately $31,000. Point72 Middle East FZE acquired a new position in BellRing Brands in the fourth quarter valued at approximately $33,000. Smithfield Trust Co acquired a new position in BellRing Brands in the second quarter valued at approximately $50,000. Finally, Signaturefd LLC lifted its holdings in BellRing Brands by 1,492.3% in the second quarter. Signaturefd LLC now owns 1,449 shares of the company’s stock valued at $53,000 after acquiring an additional 1,358 shares during the period. Institutional investors and hedge funds own 94.90% of the company’s stock.
Wall Street Analyst Weigh In
A number of research analysts have issued reports on BRBR shares. Bank of America boosted their price target on BellRing Brands from $42.00 to $50.00 and gave the company a “buy” rating in a report on Tuesday, October 17th. Needham & Company LLC reissued a “buy” rating and issued a $44.00 price target on shares of BellRing Brands in a report on Tuesday, August 8th. Morgan Stanley boosted their price objective on BellRing Brands from $41.00 to $43.00 and gave the company an “overweight” rating in a research report on Friday, August 11th. Barclays boosted their price objective on BellRing Brands from $47.00 to $48.00 and gave the company an “overweight” rating in a research report on Thursday, October 26th. Finally, Stephens cut BellRing Brands from an “overweight” rating to an “equal weight” rating and boosted their price objective for the company from $45.00 to $47.00 in a research report on Wednesday, October 25th. One research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, BellRing Brands presently has an average rating of “Moderate Buy” and a consensus price target of $42.00.
BellRing Brands Stock Performance
NYSE BRBR opened at $45.40 on Tuesday. The stock’s fifty day moving average is $43.03 and its two-hundred day moving average is $39.16. The firm has a market capitalization of $5.97 billion, a P/E ratio of 39.82, a price-to-earnings-growth ratio of 1.99 and a beta of 0.78. BellRing Brands, Inc. has a fifty-two week low of $21.78 and a fifty-two week high of $47.50.
BellRing Brands (NYSE:BRBR – Get Free Report) last released its quarterly earnings data on Monday, November 20th. The company reported $0.41 earnings per share for the quarter, topping analysts’ consensus estimates of $0.40 by $0.01. The company had revenue of $472.60 million for the quarter, compared to analyst estimates of $462.65 million. BellRing Brands had a negative return on equity of 44.58% and a net margin of 9.73%. The firm’s revenue for the quarter was up 24.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.31 earnings per share. As a group, sell-side analysts forecast that BellRing Brands, Inc. will post 1.31 EPS for the current year.
BellRing Brands Company Profile
BellRing Brands, Inc, together with its subsidiaries, provides various nutrition products in the United States and internationally. It offers ready-to-drink (RTD) protein shakes, other RTD beverages, powders, nutrition bars, and other products primarily under the Premier Protein and Dymatize brands. The company sells its products through club, food, drug, mass, eCommerce, specialty, and convenience channels.
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