Fir Tree Capital Management LP increased its position in shares of BellRing Brands, Inc. (NYSE:BRBR – Get Rating) by 80.2% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 663,960 shares of the company’s stock after acquiring an additional 295,478 shares during the quarter. Fir Tree Capital Management LP owned approximately 0.49% of BellRing Brands worth $15,324,000 as of its most recent filing with the SEC.
Other hedge funds have also recently bought and sold shares of the company. Teacher Retirement System of Texas boosted its position in BellRing Brands by 214.0% during the first quarter. Teacher Retirement System of Texas now owns 24,176 shares of the company’s stock worth $558,000 after acquiring an additional 16,476 shares during the last quarter. State Board of Administration of Florida Retirement System boosted its holdings in shares of BellRing Brands by 239.0% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 34,616 shares of the company’s stock valued at $799,000 after purchasing an additional 24,406 shares during the last quarter. Principal Financial Group Inc. acquired a new position in shares of BellRing Brands in the 1st quarter valued at $8,895,000. Strs Ohio boosted its holdings in shares of BellRing Brands by 118.9% in the 1st quarter. Strs Ohio now owns 26,700 shares of the company’s stock valued at $616,000 after purchasing an additional 14,500 shares during the last quarter. Finally, Makena Capital Management LLC acquired a new position in shares of BellRing Brands in the 1st quarter valued at $5,360,000. Institutional investors and hedge funds own 81.45% of the company’s stock.
Analyst Upgrades and Downgrades
A number of equities analysts have weighed in on BRBR shares. Mizuho lifted their price target on shares of BellRing Brands from $33.00 to $38.00 and gave the company a “buy” rating in a report on Monday, August 8th. Citigroup reiterated a “buy” rating and issued a $35.00 price target on shares of BellRing Brands in a report on Tuesday, August 23rd. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $33.00.
BellRing Brands Trading Up 0.3 %
BellRing Brands (NYSE:BRBR – Get Rating) last posted its earnings results on Thursday, August 4th. The company reported $0.31 earnings per share for the quarter, beating the consensus estimate of $0.30 by $0.01. BellRing Brands had a net margin of 4.38% and a negative return on equity of 4.53%. The business had revenue of $370.60 million for the quarter, compared to analyst estimates of $386.67 million. During the same quarter in the previous year, the business posted $0.30 EPS. The business’s quarterly revenue was up 8.2% on a year-over-year basis. On average, analysts predict that BellRing Brands, Inc. will post 1.13 earnings per share 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 shake and powder protein 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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